How to Save Money with Your Colderatti Cold Tub Using HSA/FSA
Did you know you can use your Health Savings Account (HSA) or Flexible Spending Account (FSA) to purchase a Colderatti Hyperchiller and save 30% or more? We partner with Trumed to allow you to easily checkout with HSA/FSA eligibility and leverage pre-tax dollars to save money! Read this article to see how you can qualify, pay, and maximize your savings.
*Data was taken from U.S.A participants in 2022 with an average tax rate of 25%. Savings can be greater or less, depending on tax bracket. If you pay more than a 25% tax rate, you have more potential for savings.
Qualifying for HSA/FSA
To use HSA or FSA funds for a Colderatti cold tub, you must demonstrate that the purchase is medically necessary. Commonly accepted conditions include chronic pain, arthritis, and post-surgery recovery. A prescription or a letter of medical necessity from your healthcare provider is essential to qualify. Once you have this documentation, you can proceed with your purchase.
How to Pay Using HSA/FSA
There are two primary ways to pay for your Colderatti Hyperchiller cold tub using HSA/FSA funds:
- Using an HSA/FSA Card: If you have an HSA/FSA debit card, you can use it directly at the time of purchase. This option is straightforward, allowing you to pay with your pre-tax dollars immediately.
- Using a Regular Card and Qualifying It Later: If you don’t have an HSA/FSA card or prefer to use a different payment method, you can pay with a regular credit or debit card and then submit your receipt for reimbursement through your HSA/FSA provider. Be sure to keep all documentation, including the prescription or letter of medical necessity, to streamline the reimbursement process.
Scenarios with Cost Savings
Let’s explore two scenarios where customers saved significantly using their HSA/FSA funds:
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Scenario 1: 50% Savings with Untaxed Money
John purchased a Colderatti Hyperchiller cold tub priced at $5,000. By using his HSA, he paid with untaxed money, effectively reducing the cost by 30% based on his tax bracket. Additionally, his employer contributed $1,000 to his HSA, lowering his out-of-pocket cost to $3,500—a total savings of 50%. -
Scenario 2: Maximizing Employee Contributions
Sarah used her FSA to purchase a Colderatti Hyperchiller cold tub for $4,000. Her employer matched her FSA contributions up to $2,000. By combining her pre-tax dollars and the employer match, Sarah only spent $2,000 out of pocket, cutting her costs by 50%.
Conclusion
Using HSA/FSA funds through TRUMED to purchase a Colderatti Hyperchiller cold tub is a savvy way to save money while investing in your health. Whether you use an HSA card or submit after purchase for a reimbursement, the potential for significant savings is clear. Remember to consult with your healthcare provider to ensure you qualify and keep all necessary documentation for a smooth purchasing experience.
For more information on how to use your HSA/FSA to save on health-related purchases, check out these resources: How to Access Health Savings Account, How to Submit for HSA/FSA Reimbursement.