Shed Partners with HSA/FSA Platform Truemed
Consumers can now use their pre-tax funds on Shed’s supplement and nutrition products on Truemed’s platform
Shed is the latest health and wellness brand to partner with Truemed, a platform enabling consumers to direct their pre-tax Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA) for health-related purchases, such as Shed’s supplements and nutrition products.
Consumers can either use their HSA/FSA cards at Truemed’s checkout or use their personal credit card and submit for reimbursement. The platform also provides letters of medical necessity.
“At Shed, we believe that health and wellness should be accessible to everyone and our partnership with Truemed makes that vision a reality,” Shed CEO Morley Baker said. “Now, our customers can use their HSA/FSA funds to purchase our supplements and nutrition products, making it easier for them to prioritize their health while saving money. This is a game-changer for anyone looking to enhance their wellness journey.”
Shed recently launched Clear Protein Hydration, a refreshing alternative to thick protein shakes.
In an interview last month with Athletech News, Truemed co-founder and CEO Justin Mares shared that many consumers are still in the dark on how easy it is to use HSA/FSA funds.
“Part of this is because, prior to a platform like Truemed, the process was much more arduous for these specific types of purchases,” Mares said. “Consumers would have to schedule a doctor’s appointment, describe their health history and goals in detail, ask them to fill out a Letter of Medical Necessity (LMN), pay a fee, and then wait potentially for weeks for their claim to be approved. Our goal is that by integrating all of this directly into the payment flow – it’s as easy as clicking “Pay with HSA/FSA” at checkout – people will be able to empower themselves to use pre-tax savings for products that manage chronic diseases but that may not previously have been recognized by medical institutions as preventative medicine.”
Mares said that during his time at Truemed, the platform has empowered nearly 200,000 Americans to purchase “root-cause items” with HSA/FSA funds.
“We’re confident that this movement will only continue to grow as more people catch on and realize the potential of what they can access,” he added.
The platform has forged partnerships with several other brands, including Peloton, CorePower Yoga, Crunch Fitness, CrossFit, Momentous and Plunge.