IT IS NOVEMBER.......ONLY 2 Months to spend that FSA account or Lose it. Why not pay it forward and get ready for 2015. Hire and pay for that trainer now and get a jump start on the new year. It is time to take charge of your life and get healthy and fit!! This would make a great Christmas Gift for yourself or your significant other!!! Call or email us today!! 571-330-7104 nufitspa@gmail So do you have a Federal Spending Account for medical use??? Did you know you can use that money for a Personal Trainer??? Yes that is right, not a gym membership or spa, but a Personal Trainer!!! So if you are coming to the end of your year and you have funds left over that looks like you are going to lose or you want to plan for the coming year now is the time to act. Give me a call and we can set up an appointment to get you started and save you lost dollars, get fit and healthier have less stress all while having a tax break. Cant wait to save you some tax dollars for your fitness goals!!!! :):):) ***************************************************************************** HERE IS HOW IT WORKS>>>>>>>>>>>>>>>>>>>>>>> Flexible Spending Account (FSA) Use your Medical Flexible Spending Account at Fitness Together Did you know you can use your pre-tax dollars for personal training? You can take advantage of your corporation’s Medical Flexible Spending Account and use it for Fitness Together fitness programs. If you participate in a Flexible Spending Account (FSA) sponsored by your corporation and are deemed to have a medical necessity, the amount you are personally required to pay for any personal fitness services (that are not covered by other medical insurance programs and not otherwise deducted on your tax return) may be reimbursable to you from your FSA. Pre-Tax Benefits For Fitness Services Does your employer offer a Flexible Spending Account (FSA) or Health Savings Account (HSA)? Did you know your fitness and wellness services can be paid for using your FSA or HSA? Using your FSA or HSA pre-taxed dollars could save you money for your fitness and wellness services. What is a qualifying medical expense for your FSA/HSA? Weight management programs, if prescribed by a doctor is eligible under FSA. According to the IRS, qualifying medical expenses are the costs of diagnosis, cure, mitigation, treatment or prevention of disease and the costs associated for treatments affecting any part or function of the body. Medical care expenses must be primarily to alleviate or prevent a physical or mental defect or illness (ex. Carpal Tunnel, Stress, back Pain, Arthritis, Diabetes, Hypertension, Fibromyalgia, Chronic Fatigue, Anxiety, Depression, Pain Management, Weight Management). Weight-Loss Program You can include in medical expenses amounts you pay to lose weight if it is a treatment for a specific disease diagnosed by a physician (such as obesity, hypertension, or heart disease). This includes fees you pay for membership in a weight reduction group and attendance at periodic meetings. You cannot include membership dues in a health club, or spa as medical expenses, but you can include separate fees charged there for weight loss activities It’s easy as 1, 2, 3 Step 1 – See your fitness & wellness coach Come in for a consultation so we can setup a fitness and wellness plan of action Step 2 – Call your primary healthcare Physician Call your primary healthcare Physician and tell them you have an FSA/HSA account and you would like to use your pre-tax dollars for your fitness and wellness care as it relates to your medical illness or disease. They may ask you what is for and what information they need to put on the prescription. Below are the checkpoints the IRS requires to be included on the prescription. You will need to hold on to your prescription as well as your Fitness Together receipts for reimbursement and/or validation. Step 3 – Submit your claim for re-imbursement For re-imbursement, you need to submit your claim along with the doctors letter. A doctors letter (prescription) is valid till one year from the date written. After that, you need to re-issue an updated doctors letter. Please be informed that the doctors letter should have the following information:- 1. Diagnosis 2. Treatment duration 3. Equipment / medication / therapy / program needed for treatment. 4. Date of issue the DRs RX / Letter of medical necessity. 5. For whom the treatment is prescribed. 6. Doctors name and signature.
Posted on: Sun, 02 Nov 2014 12:13:14 +0000
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