Every 1:30 for 6 rounds:
16 single-leg squats
10 GHD sit-ups
|Use Tax Free Dollars for CrossFit?|
|We have some good news. It may be possible for you to use funds in your Flexible Spending Account (FSA) or Health Savings Account (HSA) to pay for your CrossFit Membership. Just in time for most companies open enrollment!|
Traditionally it was believed that FSA/HSA funds could only be used tax and penalty free for a narrow and limited list of qualifying medical expenses. Recent developments have opened the door on FSA/HSA funds to be used for CrossFit Memberships. See IRS publication 969.
One of the key components to unlocking these pre-tax funds is a doctors note or a “Letter of Medical Necessity” determining that CrossFit and or Nutrition Coaching can help Reverse or even more broadly Prevent a health condition.
CrossFit has a long and proven track record in its efficacy in preventing and reversing lifestyle related chronic disease and this is an opportunity to leverage this to save money.
If you have an FSA/HSA and are interested the next steps to potentially use these pre-tax funds that haven’t been touched by Uncle Sam’s 10%-37% cut then please see below.
Option 1: Talk to your doctor about getting a note determining that CrossFit and/or Nutrition coaching will help Reverse or Prevent a Health Condition. Work with your financial advisor or a qualified tax professional first. Navigate with your employer or FSA/HSA administrator for the reimbursements.
Option 2: CrossFit HQ has partnered with a company called TrueMed that has a 2 minute online assessment and automations to simplify and speed up the process. (Queen City CrossFit receives no financial incentives of any kind from TrueMed). TrueMed charges $30 for their online assessment and “Letter of Medical Necessity” if you qualify.
Start the qualification process via the Queen City CrossFit TrueMed Link here: https://app.truemed.com/crossfit/qualify/tm_qual_lkb6joewzp
If TrueMed determines that fitness can help prevent or reverse a health condition that you care about (making it eligible for HSA/FSA), they will send you a Letter of Medical Necessity (LMN)Once you are approved, just submit your future receipts and LMN to your HSA/FSA provider for reimbursement. TrueMed guarantees reimbursement.
TrueMed will send instructions to get reimbursed and their customer support team will be available to assist. Truemed guarantees reimbursement once qualified.
As with all matters of this nature it is wise to check with your qualified tax professional or CFP® first to ensure this fits within your financial plan, goals and objectives.
Please respond to this email with any questions.
The Queen City CrossFit Team