You Can Buy These Nike Weights Through FSA or HSA
If you’re setting up a home gym, the first thing you’ll need is a set of dumbbells . While I’m a big fan of adjustable dumbbells as a practical way to save money, there’s another way to save on a home gym: your FSA/HSA funds.
Thanks to Nike and Truemed’s partnership, you can now use your pre-tax funds to purchase Nike strength training equipment, potentially saving you about 30% on your fitness investment. Here’s everything you need to know about how to turn your health savings into home workout benefits.
How to Get a Letter of Medical Necessity (LMN)
As with using health insurance funds to buy wearables and fitness trackers , the secret to qualifying for an FSA/HSA to purchase fitness equipment is to obtain a letter of medical necessity (LMN). An LMN is essentially a doctor’s note required to classify certain purchases as qualified medical expenses under IRS rules, certifying that the expense will be used to treat a legitimate medical condition, such as obesity or heart disease. If you provide an LMN to your benefits administrator, your expenses will likely be covered. Without this letter, the IRS treats fitness equipment as a general wellness expense, making it ineligible for health insurance account tax benefits.
Traditionally, becoming an LMN meant making an appointment with your primary care physician, explaining your fitness needs, and hoping they would prepare the necessary documentation. This process could take weeks and did not guarantee approval. However, third-party apps have changed that.
When you make an eligible purchase on Nike’s website, you’ll see an option to “Pay with Truemed.” Next, Truemed explains , you’ll be asked a few questions about your health and then assigned a provider to determine your eligibility. This information includes your fitness goals, any underlying health conditions, and how the equipment will help you achieve your health goals.
If you qualify, you’ll receive an LMN that allows you to use your HSA or FSA funds to complete your purchase—without having to visit your primary care physician. This typically happens within 24 to 48 hours, which is much faster than making a traditional doctor’s appointment.
Once approved, you can complete your purchase knowing that it is fully FSA/HSA compliant. If your order is not eligible, you can cancel it at any time before delivery.
These Nike weights are FSA/HSA compliant
Nike Strength products are eligible for HSA/FSA purchase through Truemed . The following products are eligible:
Again, these products are suitable because they promote specific health outcomes, including building muscle, improving cardiovascular health, and increasing joint stability. The key is to prove that you need them for specific health and fitness goals, not just for general recreation.
While your FSA/HSA funds won’t cover the full $2,819 cost of setting up a home gym , the 30% savings on average may be enough to justify clicking the “add to card” button in the first place.
Bottom line
Your FSA and HSA funds are designed to support your health and well-being, and if you use your cards wisely, that support can extend to outfitting your home gym with Nike weights. Nike and Truemed clearly state which items qualify for FSAs/HSAs, but you’ll need to verify your eligibility. Some employer FSA administrators may be more rigorous in their screening of purchases, but Truemed’s LMN system can be your savior. Just remember: The most important aspect of shopping with HSA funds is record keeping. Be sure to save every receipt and LMN for every HSA purchase.