Does LiveO2 qualify for Health Savings Account?

Yes, you can pur­chase exer­cise equip­ment, like LiveO2, with your Health Sav­ings Account (HSA), but it is sub­ject to spe­cif­ic con­di­tions. The equip­ment must be used to treat, pre­vent, or mit­i­gate a spe­cif­ic med­ical con­di­tion, not for gen­er­al fit­ness or well-being.46 For exam­ple, if you have a diag­nosed con­di­tion like obe­si­ty, dia­betes, high blood pres­sure, or a mus­cu­loskele­tal dis­or­der, and your doc­tor deter­mines that exer­cise equip­ment is nec­es­sary for your treat­ment, you may be eligible.48

To use your HSA funds for exer­cise equip­ment, you typ­i­cal­ly need a Let­ter of Med­ical Neces­si­ty (LMN) from a licensed health­care provider.49 This let­ter must con­firm your diag­nosed med­ical con­di­tion and explain how the spe­cif­ic equip­ment will aid in treat­ing or man­ag­ing that condition.4 With­out this doc­u­men­ta­tion, the pur­chase is gen­er­al­ly not con­sid­ered eligible.9

Many retail­ers, such as G&G Fit­ness and Titan Fit­ness, now accept HSA and FSA cards direct­ly at check­out for eli­gi­ble fit­ness equip­ment, mak­ing the process easier.15 If you pay with your HSA card, you avoid the need for a reim­burse­ment claim. How­ev­er, if you pay out-of-pock­et, you will need to keep the receipt and the LMN to sub­mit for reimbursement.24

Com­mon­ly eli­gi­ble equip­ment includes tread­mills, ellip­ti­cals, sta­tion­ary bikes, resis­tance bands, and spe­cial­ized reha­bil­i­ta­tion devices, pro­vid­ed they are pre­scribed for med­ical reasons.49 The tax advan­tage of using pre-tax HSA funds can result in sig­nif­i­cant sav­ings, poten­tial­ly up to 30% depend­ing on your tax bracket.