Did you know that ASC is HSA/FSA eligible?
Thanks to our partnership with Truemed, you may be eligible to use pre-tax dollars to pay for ASC, which can save you an extra 30%, on average.
Truemed is a company that partners with top businesses like ASC to enable qualified customers to use HSA/FSA funds on health-related purchases. ASC is HSA/FSA eligible because our services have the potential to treat or prevent certain health conditions.
How to Get Started
You can get started by following these simple steps:
Step 1: Click here to complete a fast, 2-minute health evaluation with Truemed. You will be asked about your family’s medical history and which negative health conditions you would like to use ASC to treat or prevent.
Step 2: Upon completing the survey, you will be asked to pay a $30 fee to Truemed. There are no other costs to you. Their $30 fee is easily recouped through your savings on ASC purchases by using your HSA/FSA funds.
Step 3: One of Truemed’s licensed practitioners will review your health evaluation and issue you a Letter of Medical Necessity (good for 12 months) if you qualify. Most people qualify, and the LMN is typically issued within 24 hours.
Step 4: After you receive your LMN, Truemed will send you directions on how to use your HSA/FSA to be reimbursed for ASC purchases. It’s a simple process. All you need to do is submit your LMN and your ASC receipts to your HR department or benefits administrator.
If you have any questions, refer to the FAQ below.
Frequently Asked Questions (FAQ)
Here are answers to frequently asked questions (FAQ):
FAQ: What is an HSA/FSA?
An HSA (Health Savings Account) and FSA (Flexible Spending Account) are tax-advantaged accounts that allow you to set aside money to pay for qualified health and medical expenses. These accounts are typically offered through employers.
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 on December 31.
If you’re unsure whether you have an HSA or FSA, check with your employer’s HR department or your benefits administrator.
Self-employed individuals (who do not have an HSA from a previous employment) do not qualify for HSAs or FSAs.
FAQ: How does using my HSA/FSA save me money?
HSA/FSA accounts were created so individuals 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 income and then spend it on health items, qualified customers can use pre-tax funds to invest in their health.
An individual can contribute up to $4,150 pretax to their HSA per year, or $8,300 for a family (plus an additional $1000 if you are 55+).
Individuals can contribute up to $3,200 pretax to their FSA per year (with an additional $500 in employer contributions allowed).
Almost every qualified individual will save between $1,000 and $2,000, depending on their state and tax rate.
FAQ: I don’t have an HSA/FSA. Can I still benefit from Truemed?
Unfortunately, Truemed’s services are only for individuals who have HSA or FSA accounts (or plan to fund one during open enrollment).
FAQ: How long does HSA or FSA reimbursement take?
For most benefits administrators, your expenses will be approved within days when you submit it with your Truemed Letter of Medical Necessity (LMN). The exact timing will vary based on your benefits administrator at your employer.
FAQ: What if my reimbursement request is rejected by administrator?
Truemed offers a reimbursement guarantee for purchases with official Truemed merchant partners, including ASC. As long as you have funds in your HSA or FSA account, Truemed will work with you to ensure that your purchase is reimbursed in full. You can email support@truemed.com if you have any questions.
FAQ: Can I use Truemed’s services for past ASC purchases?
While the exact policy depends on your specific HSA or FSA administrator, Truemed generally advises that you only submit expenses incurred on or after the date listed on your Letter of Medical Necessity (LMN).
FAQ: Do I need to get a new Letter of Medical Necessity (LMN) for each ASC purchase that I make?
Once issued, your LMN is valid for 12 months. You only need to get an LMN once each year.
FAQ: Are there any costs associated with using Truemed’s services?
The only cost is a $30 fee to receive a Letter of Medical Necessity (LMN) from Truemed.
FAQ: Can I seek reimbursement for ASC charges that occurred prior to me receiving a Letter of Medical Necessity?
Reimbursing purchases from a date prior to the LMN issuance is generally not allowed and not something Truemed recommends.
FAQ: Do I need to change the way that I pay ASC, or pay any extra fees to ASC for this benefit?
No, you do not need to change the way you pay ASC, and you do not need to pay any extra fees to ASC for this benefit.