BODi and Telehealth Provider Dr. B Partner to Enable Pre-Tax Reimbursement for BODi Fitness Solutions in all 50 States
The Beachbody Company, Inc. (NYSE: BODI) announced a strategic partnership with Dr. B, a leading telehealth provider, enabling qualifying patients to use pre-tax Health Savings Accounts (HSA) or Flex Savings Accounts (FSA) funds to pay for BODi's fitness solutions. The partnership aims to save time and money for users by eliminating the need for an on-site doctor visit. This collaboration reflects the rising trend of telemedicine usage in the US and highlights the importance of whole-body health and longevity.
Strategic partnership with Dr. B provides BODi users with the option to use pre-tax HSA or FSA funds to pay for fitness solutions, saving time and money.
Collaboration eliminates the requirement for on-site doctor visits, making it convenient for users to access BODi's health and fitness programs.
Reflects the increasing trend of telemedicine usage in the US, with a significant percentage of adults preferring telehealth services, especially after COVID-19.
Focus on whole-body health and longevity through integrated fitness, nutrition, and mindset programs that aim to help individuals lead healthy and fulfilling lives.
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BODi and Dr. B to Help Qualifying Patients Save Time and Money on Fitness Solutions by Utilizing Pre-Tax Health Savings Account (HSA) or Flex Savings Account (FSA) Funds
BODi and Telehealth Provider Dr. B Partner to Enable Pre-Tax Reimbursement for BODi Fitness Solutions in all 50 States (Graphic: Business Wire)
According to the CDC, in the US, the percentage of adults using telemedicine services in 2021 was
BODi users with an HSA or FSA account can go through an online medical consultation with Dr. B to determine whether they qualify for a Letter of Medical Necessity, which would allow for BODi’s fitness expenses to be eligible for reimbursement from their pre-tax HSA/FSA funds. Qualifying members may receive reimbursement covering up to the entire cost of their BODi fitness solutions.
By not requiring an on-site visit to a doctor, the partnership saves time and money for those who qualify. BODi subscribers can visit the Dr. B (hidrb.com) website, complete an online medical consultation in just minutes, receive a Letter of Medical Necessity (if qualified), and submit the letter with BODi receipts to their HSA or FSA administrator for reimbursement.
“For over 25 years our mission at BODi has been to help people lead healthy and fulfilling lives,” says Carl Daikeler, BODi’s Co-Founder and Chief Executive Officer. “The barrier of time and money is real for many who would benefit from the tools on the BODi platform. We believe our partnership with Dr. B will remove these barriers that prevent many from getting started and this unique combination of financial and fitness solutions will help even more people improve their lives and build healthy habits.”
“Current trends indicate that the future of fitness lies in companies that double down on programs that encourage whole-body health and longevity,” says Cyrus Massoumi, founder and CEO of Dr. B. “That’s why we’re thrilled to partner with BODi. They offer our patients integrated fitness, nutrition and mindset programs to help them succeed through every step along their journey. The more Dr. B can help individuals invest in BODi’s health esteem mindset, the better for all of us.”
BODi offers a broad range of innovative and effective fitness, nutrition and mindset programs developed and tested by world-class scientists, trainers and nutrition experts. Accessible by subscription or via a newly launched standalone option, BODi offers a holistic solution to achieve healthy results.
Dr. B’s
About BODi and The Beachbody Company, Inc.
Originally known as Beachbody, BODi has been innovating structured step-by-step home fitness and nutrition programs for 25 years such as P90X, Insanity, and 21-Day Fix, plus the first premium superfood nutrition supplement, Shakeology. Since its inception in 1999 BODi has helped over 30 million customers pursue extraordinary life-changing results. The BODi community represents millions of people helping each other stay accountable to goals of healthy weight loss, improved strength and energy, and resilient mental and physical well-being. For more information, please visit TheBeachbodyCompany.com.
Ticker Symbol Changed to BODI
On March 4, 2024, the Company transitioned its stock ticker from "BODY" to "BODI" on the NYSE, in line with its rebrand from Beachbody to BODi. There were no changes made to the CUSIP or the stock's listing status on the NYSE.
About Dr. B
Dr. B’s mission is to expand access to a long and healthy life. As the only telehealth service that makes treatments affordable for anyone, Dr. B provides the most convenient way to get treatment online—including prescriptions—without leaving home. Dr. B was founded by Cyrus Massoumi, the founder of Zocdoc. It is a Public Benefit Corporation and certified B Corporation based in
Forward Looking Statements
This press release contains “forward-looking” statements pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995, which are statements other than historical fact or in the future tense. These statements include but are not limited to, statements regarding our business strategy, our plans, and our objectives and future operations. Forward-looking statements are based upon various estimates and assumptions, as well as information known to us as of the date hereof and are subject to risks and uncertainties. Accordingly, actual results could differ materially due to a variety of factors. You can identify these statements by the use of terminology such as “believe”, “plans”, “expect”, “will”, “should,” “could”, “estimate”, “anticipate,” “upon” or similar forward-looking terms. You should not rely on these forward-looking statements as they involve risks and uncertainties that may cause actual results to vary materially from the forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240501349885/en/
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Source: The Beachbody Company, Inc.
