HSA/FSA funds can be used for qualified medical expenses. Independent healthcare providers have determined that the products or services listed in your LMN meet the criteria to qualify.
A Letter of Medical Necessity (LMN) is a document that substantiates your purchase as helping to prevent, treat, or alleviate a disease. With your Truemed LMN, you’re guaranteed to receive HSA/FSA reimbursements for your recent purchase and all future subscriptions as long as the LMN remains valid (12 months from issuance).
The items in your True Medicine 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.
We are facing a chronic disease in the US. 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 a medical expense 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.
Truemed indicates they will do their best to make it up to you if any HSA/FSA purchase outlined in our LMNs is rejected. We typically offer 40% of the purchase value. Read the full details of our policy in our Terms of Service, and please email support@truemed.com if you have any questions or need assistance.
Truemed partners with health and wellness brands to enable qualified customers to use HSA/FSA funds on health and wellness purchases. Truemed partners with a network of medical practitioners who can issue Letters of Medical Necessity to qualifying customers, thereby saving customers money on health and wellness purchases.
HSA/FSA funds can be used for qualified medical expenses. Independent healthcare providers have determined that the products or services listed in your LMN meet the criteria to qualify.
Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA) are tax-free accounts that can be used to pay for qualified medical 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!).
There are key differences between an HSA and an FSA account, as outlined by Optum (a leading HSA/FSA administrator) in this article.
If you’re unsure who your HSA/FSA administrator is, consult your employer’s HR department. They can provide the necessary details.
HSA/FSA accounts were created so patients could use pretax money to pay for expenses incurred in the prevention or alleviation of a disease. Because HSA/FSA uses tax-free money, you’re getting more purchasing power for your dollars. Rather than pay taxes on your income and *then* spend it on health items, you can use pre-tax funds to invest in your health.
An individual can contribute up to $3,650 to their HSA per year. Almost every patient will save between $1,000 and $2,000, depending on their state and tax rate.
Follow these steps:
1. Log into your HSA/FSA administrator’s online portal. Use your credentials, or create an account if you don’t already have one.
2. Locate the ‘Reimbursement’ or ‘Claims’ section. This section is typically dedicated to submitting claims.
3. Upload your LMN and receipt. You’ll need to provide:
a. The LMN issued by Truemed
b. The receipt for the item or service purchased through the Truemed health survey
4. Submit your claim.
For most HSA/FSA administrators, your expenses will be approved within 7-10 days when you submit your receipt along with a Letter of Medical Necessity. Reimbursement timing depends on your specific HSA/FSA administrator.
Yes! As long as your LMN remains valid (within 12 months of issuance) and the items are eligible via the LMN, you can use it to claim reimbursement for future receipts.
Truemed makes the process simple. If you’re unsure about any step, refer to your HSA/FSA administrator’s specific instructions or reach out to Truemed for guidance.
There are 3 tax forms associated with health savings accounts (HSAs): IRS Form 1099-SA, 5498-SA, and IRS Form 8889. You will use the information in your 1099-SA form, available from your HSA administrator (typically sent directly to you during tax season), to fill out IRS tax form 8889. Form 8889 is the only one you need to submit with your taxes.
Ensure you retain copies of all your submitted documents for your records. If you encounter any issues, reach out to your HSA/FSA administrator’s customer service or get in touch at team@truemed.com for further guidance.
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