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Maximizing Your Wellness: A Guide to Utilizing Your HSA or FSA for Health and Fitness Expenses

Updated: May 13

Have you heard of a Flexible Spending Account (FSA) or Health Spending Account (HSA)?

Both FSAs and HSAs help you save for qualified medical expenses. Health Savings Accounts were established as part of the Medicare Prescription Drug, Improvement, and Modernization Act in 2003. Very few people were enrolled (only 4% of eligible employees) until that changed in 2019 when studies listed $61.7 Billion being held in 26 million health savings accounts in the US. This website has every detail regarding both types of health spending accounts: Read more at

The purpose of a flexible spending account is savings. Contributions are tax-deductible and according to Laura D. Adams of "Money-Smart Solopreneur, "you can use contributions to pay or reimburse yourself for qualified healthcare expenses until you reach your deductible, or to pay for expenses that aren't covered by your insurance. " She also states the savings over a lifetime but also with HSAs boosting retirement savings. She gives "Smart Strategies" for using an HSA as well.

The great news of this is that I can accept HSA and FSA cards since I am a Licensed healthcare provider (Physical Therapist) and Certified Personal Trainer. I utilize square payments which are set up to use FSA and HSA cards. Please remember to ask your insurance provider about specific coverage, how much money you are allowed to use, and if you need to use it by the end of the year to avoid losing the remaining amount or if it rolls over to the next year.

I recently learned about Truemed, which states its mission is "to help more people afford true medicine products and services that keep you healthy, not just treatments after you're sick." They provide a service to assist with the Letter of Medical Necessity (LMN) to cover health services that count as qualified medical expenses with HSA/FSA funds. Here is the link to see if you qualify for their services.

#Live Inspired

Karen Baltz Gibbs, PT, DPT, CSCS, LMT, CMP, Owner of Garage Training & Rehab Gym, LLC


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