BOROUX, a leading brand in innovative and sustainable countertop water filtration systems, is thrilled to announce that its water filters are now eligible for purchase with Flexible Spending Accounts (FSA) and Health Savings Accounts (HSA) through esteemed partner, TrueMed. This means you may be eligible to buy your favorite BOROUX products with pre-tax dollars, resulting in net savings of 30-40%.
HSAs and FSAs were created for you to spend tax-advantaged dollars on products and services that can alleviate or prevent specific medical conditions and TrueMed is making it easy to do just that. All you have to do is add products to your cart, select TrueMed as your payment option at checkout, enter your HSA or FSA debit card, and take a quick health survey to determine eligibility.
The Truemed payment option determines eligibility and enables qualified customers to pay with their HSA/FSA funds in checkout.
Once you’re approved, that’s it! You’ll receive an order confirmation and effectively save 30-40% on your order!
How to Use HSA/FSA Funds to Buy a BOROUX
Step 1:
Shop as you normally would and add your favorite products to your cart.
Step 2:
At checkout, under Payment, Click “TrueMed - Pay with HSA/FSA”
Step 3:
Enter your HSA/FSA card details.
Step 4:
Take the 1-minute survey to determine your eligibility.
Once eligibility is confirmed, you’ll receive a confirmation email with your BOROUX product details
More details:
Truemed is for patients for whom the selected product has been proven to prevent or reverse a condition you care about. An asynchronous health evaluation will determine eligibility and take qualified patients to payment.
If you pay with your HSA/FSA card, there's no other work you need to do (we'll send paperwork to ensure compliance). If you pay with your personal credit card, we'll send reimbursement instructions.
Health Savings Account (HSA):
- An HSA is a tax-advantaged savings account available for individuals with high-deductible health plans.
- Contributions to an HSA are tax-deductible, and the funds can be withdrawn tax-free if used for qualified medical expenses.
- HSA funds can be used for a wide range of medical expenses, including prescription medications, doctor visits, certain medical devices, and now BOROUX products.
Flexible Spending Account (FSA):
- An FSA is another tax-advantaged account that allows employees to set aside a portion of their pre-tax earnings for qualified medical expenses.
- FSA funds must be used within the plan year or a grace period, and they can cover eligible medical expenses such as co-pays, deductibles, certain medical products, and now BOROUX products.
Using HSA/FSA funds provides a financial benefit as contributions to these accounts are made with pre-tax dollars, effectively reducing the overall cost of the device.
BOROUX Products are Now Eligible for Health Savings Account Use
BOROUX is dedicated to providing high-quality water filtration solutions that promote health and wellness. Being FSA/HSA eligible allows customers to use their tax-advantaged health accounts to purchase BOROUX water filters, making water filter products more accessible to those prioritizing their health and water quality by minimizing and eliminating contaminants ingested from water.
"TrueMed is a great partner because they handle all the necessary requirements for HSA/FSA eligibility,” says Todd Emerson, Founder and CEO of BOROUX. “We are proud to work with such a robust and thorough company. Their values align with ours—bringing access to healthy options to everyone."
"We know that health and wellness are important, and we also know that water is a key component of that,” says Emerson. “This further establishes BOUROUX as a health and wellness product and a partner in improving the well-being of our community."
Access to safe drinking water is crucial for maintaining good health. The human body is composed of about 60% water, and staying hydrated is essential for various bodily functions, including temperature regulation, joint lubrication, and the transport of nutrients. Poor tap water quality in the US remains a critical issue, with over 63 million Americans exposed to unsafe drinking water due to contaminants like lead, glyphosate, chlorine, and pharmaceuticals posing significant health risks.
BOROUX water filters ensure that everyone can access high-quality drinking water, vital for health and wellness. Our products are designed to remove impurities and contaminants, providing peace of mind and promoting healthier living.
Partnership with TrueMed
TrueMed is recognized for its commitment to helping brands meet the requirements for FSA/HSA eligibility. Their partnership ensures that BOROUX water filters meet all necessary criteria, making the purchasing process seamless for customers using their health funds.
As of today, BOROUX is the only water filter brand that’s HSA/FSA eligible. BOROUX joins an extensive list of other health and wellness brands and products available on the TrueMed marketplace.
FAQs
What is Truemed?
Truemed partners with merchants and brands to enable qualified customers to use HSA/FSA funds on qualified products and services that are used to treat, mitigate, or prevent a diagnosed medical condition. Truemed partners with a network of individual practitioners who evaluate customers’ eligibility and issue Letters of Medical Necessity to qualifying customers, thereby saving customers money on legitimate medical expenditures.
Truemed is backed by best-in-class investors, including functional medicine pioneer Mark Hyman and founders from Thrive Market, Eight Sleep, and Levels.
How does using my HSA/FSA account save me money?
HSA/FSA accounts were created so individuals could use pre-tax money to pay for expenses used to treat, mitigate, or prevent a diagnosed medical condition. Because HSA/FSAs use pre-tax 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 $3,850 pretax to their HSA per year, or $7,750 for a family (plus an additional $1,000 if you are at least 55 years old). Individuals can contribute up to $3,050 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.
What is a Letter of Medical Necessity?
In order to determine whether certain products or services are legitimate expenses for treating, mitigating, or preventing a diagnosed medical condition, HSA/FSA plan administrators often require a letter from a licensed practitioner. This letter is called a “Letter of Medical Necessity.”
Why should I use my HSA/FSA funds with Truemed’s partner brands?
Using your HSA/FSA funds on eligible products or services sold by Truemed’s partner brands can result in significant savings. HSA/FSA accounts allow you to use pre-tax dollars to purchase products and services to treat, mitigate, or prevent the specific medical conditions that you have been diagnosed with.
I don’t have an HSA/FSA. Can I still benefit from Truemed?
Unfortunately, Truemed’s services are for individuals who have HSA or FSA accounts (or plan to fund one during open enrollment). We encourage you to ask your employer about information on your HSA or FSA!
I don’t live in the US. Can I still get reimbursed with Truemed?
Unfortunately, Truemed is currently only available in the United States.
Can I use my HSA/FSA card at checkout?
Yes! You can use your HSA/FSA card. Once you pay with your card and complete the survey, all you need to do is keep an eye out for the Letter of Medical Necessity that we will send you, and hold onto it for the next 3 years.
Can I use my regular credit card at checkout?
If you prefer to use your regular credit card, you are welcome to do that and we will send you instructions for how to submit for reimbursement from your administrator.
How long does it take for me to receive my Letter of Medical Necessity?
Generally, it takes 24-48 hours. If you aren’t seeing your letter in your inbox, check spam, then reach out to us at support@truemed.com for help!
If I am not approved, what happens?
If you do not qualify, you are able to reapply for HSA/FSA spending at a later date.
I don’t have enough funds in my HSA/FSA account to cover the entire purchase. Can I still use Truemed?
You can occasionally request a split invoice from the merchant that you are making a purchase from, but like your normal bank account, you generally need to have the funds to cover the purchase to avoid a rejection.
What if my HSA/FSA payment is rejected by my administrator?
Please contact us at team@truemed.com so we can help you troubleshoot the issue. HSA/FSA plan administrators often have detailed requirements, so it may be as simple as re-issuing your Letter of Medical Necessity using the administrator’s form.
What if I haven’t contributed to my HSA/FSA. Will I still be able to maximize my savings?
For most Americans, open enrollment is in the last four months of the year. Simply elect to increase contributions to your HSA or FSA during this time and you can begin shopping with Truemed merchant partners. Starting on January 1st, qualified individuals will be able to spend their entire HSA or FSA amount on products that a licensed practitioner recommends to treat, mitigate, or prevent a specific, diagnosed medical condition. These funds will be pulled from your paycheck, prior to tax withholding, by your HSA/FSA administrator in equal installments through the year.
In conclusion, using HSA/FSA funds to purchase BOROUX water filtration systems offers an effective way to reduce costs while investing in your health and well-being. By partnering with TrueMed, BOROUX ensures that the process is simple and accessible, allowing you to enjoy the benefits of high-quality, contaminant-free water while making the most of your health savings. Take advantage of this opportunity to prioritize your health with BOROUX, and experience the peace of mind that comes with knowing you’re drinking safer, healthier water.
