Yes, heart rate monitors are eligible for reimbursement through Flexible Spending Accounts (FSA) and Health Savings Accounts (HSA). These devices are considered diagnostic products under SIGIS and IRS guidelines when marketed primarily for medical purposes, such as monitoring heart health or managing conditions like arrhythmias.
Why Are Heart Rate Monitors FSA/HSA Eligible?
Heart rate monitors qualify as FSA/HSA-eligible because they are categorized as diagnostic tools designed to measure and assess health-related metrics. According to SIGIS criteria, devices that screen, test, or monitor for disease or dysfunction meet eligibility requirements. Heart rate monitors marketed for purposes such as tracking irregular heart rhythms, monitoring recovery after a cardiac event, or managing chronic conditions are included in this category.
However, it’s important to note that general-use fitness heart rate monitors intended for performance enhancement or wellness tracking (e.g., step counting or fitness goals) do not qualify unless specifically recommended by a healthcare provider for a diagnosed medical condition.
How to Purchase Heart Rate Monitors With an FSA/HSA?
To buy a heart rate monitor using your FSA or HSA funds, follow these steps:
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Shop at FSA/HSA-Friendly Retailers:
Browse buyFSA.com or the buyFSA app for FSA-eligible heart rate monitors.
Add your selected product to your cart.
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Make Your Purchase:
Use your FSA/HSA card during checkout to pay directly or pay out of pocket with another form of payment.
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Submit for Reimbursement (if needed):
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For out-of-pocket purchases, submit the following documentation to your FSA/HSA provider:
Receipt with the retailer’s name and date of purchase.
Description of the item purchased.
Total amount of the transaction.
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Maintain Documentation (if needed):
Retain all receipts and any supporting documents in case additional verification is required.
