URGENT UPDATE: New reports confirm that health savings accounts (HSAs) and flexible savings accounts (FSAs) can now cover a range of wellness devices, transforming how employees view their health benefits. As of October 2023, this shift allows for unexpected items like massage guns, smart rings, and blood pressure monitors to be eligible for purchase with HSA and FSA funds.
According to Chris Byrd, senior vice president at WEX, a global commerce platform, “This trend is transforming how employees view their benefits, as these accounts aren’t just for emergencies anymore.” With health and wellness at the forefront of many workers’ minds, this development is particularly timely.
Among the newly eligible items are:
1. **Massage Guns**: Devices like the Therabody Theragun, starting at $200, are now HSA- or FSA-eligible. Other options include Caring Mill by Aura’s massage guns, which may also qualify.
2. **Oura Ring**: The popular smart ring is now accessible through HSA or FSA funds, allowing users to track their health metrics seamlessly.
3. **Whoop Wearables**: The Whoop 5.0, praised for its sleep tracking, comes bundled with a membership and accessories, all eligible under HSA and FSA guidelines.
4. **Smart Blood Pressure Monitors**: Devices like Garmin’s Index BPM, priced at $200, offer connectivity to smartphones and can help track health metrics at home.
5. **Chest Strap Heart Rate Monitors**: The Garmin HRM-Pro Plus, a top choice for fitness enthusiasts, is also eligible for purchase with HSA and FSA funds.
6. **Light Therapy Devices**: Products such as the Dr. Dennis Gross red light therapy mask may qualify for coverage, aiding users in skincare routines.
7. **Compression Boots**: The Therabody JetBoots, designed for muscle recovery, are available for $600 and may be eligible with proper medical documentation.
However, it is essential to understand the eligibility requirements. Byrd emphasizes that “eligibility is tied to use for treatment of a medical condition.” Items intended for general health or cosmetic reasons may require a doctor’s note to qualify.
To ensure your purchases are covered, consult your HSA provider’s online dashboard or app for specific guidelines.
What’s Next? As this trend continues to evolve, employees should stay informed about which wellness devices can be covered under their HSA or FSA. This change may significantly impact how individuals prioritize their health and wellness spending, making it crucial to understand the benefits available.
In summary, the expansion of HSA and FSA coverage to include wellness technology is a pivotal development for consumers, promoting a proactive approach to health management. Share this news to inform others about the potential benefits available for their health journeys!
