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Frequently Asked Questions

• What is an HSA/FSA account?

  Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA) are tax-free accounts that can be used to pay for qualified health expenses. These accounts are usually set up and managed by an HSA or FSA administrator, and you should have access to said HSA/FSA administrator through your employer (ask your HR department!).

  HSAs are typically associated with a high-deductible health plan, and funds do not expire. FSAs are independent of your health plan, and funds elections occur in October-November each year for the following calendar year. FSA funds expire every calendar year.

  Unfortunately, HSAs and FSAs are not available outside of the US, and self-employed individuals (who do not have an HSA from a previous employment) do not qualify for HSAs or FSAs.

• What is Truemed?

  Truemed partners with merchants and brands to enable qualified customers to use HSA/FSA funds on qualified products and services that are used to treat, mitigate, or prevent a diagnosed medical condition. Truemed partners with a network of individual practitioners who evaluate customers’ eligibility and issue Letters of Medical Necessity to qualifying customers, thereby saving customers money on legitimate medical expenditures.

  Truemed is backed by best-in-class investors, including functional medicine pioneer Mark Hyman and founders from Thrive Market, Eight Sleep and Levels.

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• How does using my HSA/FSA account save me money?

  HSA/FSA accounts were created so individuals could use pre-tax money to pay for expenses used to treat, mitigate, or prevent a diagnosed medical condition. Because HSA/FSAs use pre-tax money, you’re getting more purchasing power for your dollars. Rather than pay taxes on income and then spend it on health items, qualified customers can use pre-tax funds to invest in their health.

  An individual can contribute up to $4,300 pretax to their HSA per year, or $8,550 for a family (plus an additional $1,000 if you are at least 55 years old). Individuals can contribute up to $3,300 pretax to their FSA per year (with an additional $500 in employer contributions allowed). Using pre-tax dollars through your FSA/HSA may provide tax savings, depending on your individual tax situation. For more information on eligible expenses, refer to IRS Publication 502 and IRS Publication 969.

• What is a Letter of Medical Necessity, and how is this compliant?

  The items in your Truemed Letter of Medical Necessity (“LMN”) are now qualified medical expenses in the same way a visit to the doctor’s office or pharmaceutical product is.

  There are thousands of studies showing food and exercise is often the best medicine to prevent and reverse disease. Exercise qualifies as a qualified medical expense with an LMN. Food, supplements, and other wellness purchases qualify as medical expenses if they treat or prevent an illness, and a doctor substantiates the need. Your Truemed LMN satisfies all IRS requirements to make your wellness spend fully reimbursable.

• How long does it take for me to receive my Letter of Medical Necessity?

  Generally it takes 24-48 hours. In some cases, Truemed’s provider team will require additional time to issue a letter of medical necessity based on the needs associated with an individual qualification survey. If you aren’t seeing your letter in your inbox, check spam, then reach out to support@truemed.com for help.

• I don't have an HSA/FSA. Can I still benefit from Truemed?

  Unfortunately, Truemed’s services are for individuals who have HSA or FSA accounts (or plan to fund one during open enrollment). We encourage you to ask your employer about information on your HSA or FSA!

• I don't live in the US. Can I still get reimbursed with Truemed?

  Unfortunately, Truemed is currently only available in the United States.

• Do my HSA/FSA dollars expire?

  FSA dollars expire at the end of the year and unused money may not rollover into the next year. Make sure to spend the rest of your FSA dollars before December 31st — use it, so you don’t lose it! HSA funds do not expire.

• Are there fees associated with using Truemed's services?

  There is no cost to you, as long as you are shopping with a Truemed partner merchant.

• Can I use my regular credit card at checkout?

  If you prefer to use your regular credit card, you are welcome to do that and we will send you instructions for how to submit for reimbursement from your administrator. Check out this article to get a comprehensive understanding of the reimbursement process.

• If I'm not approved, what happens?

  If you do not qualify, you are able to reapply for HSA/FSA spending at a later date.

• Can I apply my HSA/FSA funds to a previous purchase?

  No – HSA/FSA reimbursement is tied to the date on your Letter of Medical Necessity (LMN), which reflects your condition at the time of evaluation. Without completing the clinical intake survey on or before your purchase date, you cannot retroactively apply an LMN to past purchases.

• How long does HSA or FSA reimbursement take?

  For most FSA/HSA administrators, your expenses will be approved within days when you submit your claim for reimbursement along with your receipt and a Letter of Medical Necessity. The exact timing will vary based on your administrator.

• How much will I save using my HSA/FSA?

  By using pre-tax HSA/FSA funds to purchase eligible products, individuals save an average of ~30% depending on their individual tax rates. Curious how much you could save on your specific purchase? Use the TrueSavings Estimator*.

  *These are estimates only. Consult with a tax advisor for personalized advice.