Frequently Asked HSA/FSA 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.

• 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.

• What is a Letter of Medical Necessity (LMN)?

  In order to determine whether certain products or services are legitimate expenses for treating, mitigating, or preventing a diagnosed medical condition, HSA/FSA plan administrators often require a letter from a licensed practitioner. This letter is called a “Letter of Medical Necessity - LMN.”

• I don't live in the USA, can I still use Truemed for my HSA/FSA payment?

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

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

  Generally it takes 24-48 hours. If you aren't seeing your letter in your inbox, check spam, then reach out to us at support@truemed.com for help!

• What happens if I am not approved for a LMN?

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

• Can I still use Truemed if I don't have sufficient funds in my HSA/FSA account to cover the entire purchase?

  Yes, you will have the option during checkout to split payment between your HSA/FSA account and your credit or debit card. You will be given the option to enter a custom amount for each payment method.

• What if my HSA/FSA payment is rejected by my administrator?

  Please contact us at team@truemed.com so we can help you troubleshoot the issue. HSA/FSA plan administrators often have detailed requirements, so it may be as simple as re-issuing your Letter of Medical Necessity using the administrator's form.