Peloton and Truemed Partnership Enables More Consumers to Prioritize Health Needs with HSA/FSA Dollars
Peloton (NASDAQ: PTON) and Truemed have announced a partnership enabling qualified US-based customers to purchase Peloton equipment using pre-tax HSA/FSA dollars. This collaboration aims to make fitness more accessible as a means to address chronic health conditions, potentially saving customers up to 40% off their purchase.
Applicable products include the Peloton Bike, Bike+, Tread, Tread+ and Row. The partnership seeks to empower individuals to prioritize their health by streamlining access to fitness products and services. Customers can select the 'Pay with HSA/FSA funds' option at checkout, complete a brief health survey, and use their HSA/FSA card or credit/debit card for payment. A licensed medical provider will review submissions and issue a Letter of Medical Necessity if eligibility is confirmed.
Peloton (NASDAQ: PTON) e Truemed hanno annunciato una partnership che consente ai clienti statunitensi qualificati di acquistare attrezzature Peloton utilizzando fondi HSA/FSA pre-tassati. Questa collaborazione ha l'obiettivo di rendere il fitness più accessibile come mezzo per affrontare condizioni di salute croniche, permettendo ai clienti di risparmiare fino a 40% sul loro acquisto.
I prodotti applicabili includono la Peloton Bike, Bike+, Tread, Tread+ e Row. La partnership mira a responsabilizzare gli individui a dare priorità alla propria salute semplificando l'accesso a prodotti e servizi fitness. I clienti possono selezionare l'opzione 'Paga con fondi HSA/FSA' al momento del pagamento, completare un breve questionario sulla salute e utilizzare la loro carta HSA/FSA o una carta di credito/debito per il pagamento. Un fornitore medico autorizzato esaminerà le richieste e rilascerà una Lettera di Necessità Medica se l'idoneità viene confermata.
Peloton (NASDAQ: PTON) y Truemed han anunciado una asociación que permite a los clientes calificados en EE. UU. comprar equipos de Peloton utilizando fondos HSA/FSA preimpuestos. Esta colaboración tiene como objetivo hacer que el fitness sea más accesible como medio para abordar condiciones de salud crónicas, lo que podría permitir a los clientes ahorrar hasta un 40% en su compra.
Los productos aplicables incluyen la Peloton Bike, Bike+, Tread, Tread+ y Row. La asociación busca empoderar a las personas para que prioricen su salud al facilitar el acceso a productos y servicios de fitness. Los clientes pueden seleccionar la opción 'Pagar con fondos HSA/FSA' al finalizar la compra, completar una breve encuesta de salud y utilizar su tarjeta HSA/FSA o de crédito/débito para el pago. Un proveedor médico autorizado revisará las solicitudes y emitirá una Carta de Necesidad Médica si se confirma la elegibilidad.
Peloton (NASDAQ: PTON)과 Truemed는 적격한 미국 고객이 세전 HSA/FSA 달러를 사용하여 Peloton 장비를 구매할 수 있도록 하는 파트너십을 발표했습니다. 이번 협력은 만성 건강 문제를 해결하는 수단으로서 피트니스 접근성을 높이려는 목표를 가지고 있으며, 고객은 구매시 최대 40% 절약할 수 있습니다.
적용 가능한 제품으로는 Peloton Bike, Bike+, Tread, Tread+ 및 Row가 포함됩니다. 이 파트너십은 개인들이 건강을 우선시할 수 있도록 피트니스 제품 및 서비스 접근을 간소화하는 것을 목표로 합니다. 고객은 결제 시 'HSA/FSA 자금으로 결제' 옵션을 선택하고 간단한 건강 설문조사를 완료한 후 HSA/FSA 카드 또는 신용/직불 카드를 이용해 결제할 수 있습니다. 허가된 의료 제공자가 제출물을 검토하고 자격이 확인되면 의료 필요성 증명서를 발급합니다.
Peloton (NASDAQ: PTON) et Truemed ont annoncé un partenariat permettant aux clients américains qualifiés d'acheter des équipements Peloton en utilisant des fonds HSA/FSA avant impôt. Cette collaboration a pour objectif de rendre la forme physique plus accessible pour traiter les problèmes de santé chroniques, permettant ainsi aux clients d'économiser jusqu'à 40 % sur leur achat.
Les produits concernés incluent le Peloton Bike, Bike+, Tread, Tread+ et Row. Ce partenariat vise à permettre aux individus de donner la priorité à leur santé en simplifiant l'accès aux produits et services de fitness. Les clients peuvent sélectionner l'option 'Payer avec des fonds HSA/FSA' lors du passage en caisse, remplir un bref questionnaire de santé et utiliser leur carte HSA/FSA ou de crédit/débit pour le paiement. Un professionnel de la santé autorisé examinera les soumissions et délivrera une lettre de nécessité médicale si l'éligibilité est confirmée.
Peloton (NASDAQ: PTON) und Truemed haben eine Partnerschaft angekündigt, die es qualifizierten Kunden in den USA ermöglicht, Peloton-Ausrüstung mit vorsteuerlichen HSA/FSA-Dollar zu kaufen. Diese Zusammenarbeit zielt darauf ab, Fitness zugänglicher zu machen, um chronischen Gesundheitszuständen zu begegnen, wobei Kunden bis zu 40% beim Kauf sparen können.
Zu den anwendbaren Produkten gehören Peloton Bike, Bike+, Tread, Tread+ und Row. Die Partnerschaft soll Einzelpersonen befähigen, ihre Gesundheit zu priorisieren, indem der Zugang zu Fitnessprodukten und -dienstleistungen optimiert wird. Kunden können an der Kasse die Option 'Mit HSA/FSA-Fond bezahlen' auswählen, einen kurzen Gesundheitsfragebogen ausfüllen und ihre HSA/FSA-Karte oder Kredit-/Debitkarte zur Zahlung verwenden. Ein zugelassener medizinischer Anbieter wird die Einsendungen überprüfen und eine ärztliche Notwendigkeitsbescheinigung ausstellen, wenn die Berechtigung bestätigt wird.
- Partnership enables customers to use pre-tax HSA/FSA dollars for Peloton equipment purchases
- Potential savings of up to 40% off purchases for qualified customers
- Streamlined process for customers to access fitness products using pre-tax funds
- Expansion of payment options may increase accessibility and sales of Peloton products
- None.
Insights
This partnership between Peloton and Truemed is an interesting development, but its immediate financial impact is likely to be While it could potentially increase sales by making Peloton products more affordable for some customers, the overall effect on revenue and profitability is uncertain.
The ability to use HSA/FSA funds for Peloton equipment purchases could expand the company's customer base, particularly among health-conscious consumers. However, it's important to note that this doesn't represent a new revenue stream, but rather a different payment method for existing products.
Peloton's current financial situation remains challenging, with the company facing declining sales and ongoing losses. In Q2 FY2023, Peloton reported a
Investors should monitor whether this initiative leads to a meaningful increase in unit sales or helps Peloton expand its market share. The long-term value of this partnership will depend on its ability to drive sustainable growth and improve Peloton's financial performance.
This partnership represents a strategic move by Peloton to position its products as health interventions rather than just fitness equipment. By enabling customers to use HSA/FSA funds, Peloton is aligning itself more closely with the healthcare sector, which could have several long-term implications:
- Increased legitimacy in the health and wellness space
- Potential for future partnerships with healthcare providers or insurers
- Possible expansion into more medically-oriented products or services
The emphasis on treating chronic conditions like obesity and diabetes through exercise aligns with broader healthcare trends focusing on preventive care and lifestyle interventions. This could open doors for Peloton in the growing digital health market, estimated to reach
However, the success of this initiative will depend on consumer adoption and the willingness of healthcare professionals to recommend Peloton products as part of treatment plans. The company will need to provide robust data on the health benefits of its products to solidify its position in this space.
Qualified customers can now purchase Peloton equipment using tax-free HSA/FSA dollars with a few quick steps
Through this collaboration, Truemed and Peloton seek to empower individuals to prioritize their health by streamlining consumers' ability to invest in and save on health products and services. Unlocking pre-tax funds for exercise equipment will enable more consumers to prioritize their health needs and make fitness a part of their every-day lives.
“Root-cause interventions are a critical part of healthcare, and helping people find what uniquely works for them is key in sustaining these long-term commitments,” said Justin Mares, co-founder and CEO of Truemed. “With a global player like Peloton, we’re helping connect consumers with more of the health practices they love as we continue our work in improving access, options, convenience, and incentives.”
Physical exercise is paramount for cardiovascular health and the treatment and/or prevention of prominent chronic conditions including obesity and diabetes. Truemed is devoted to educating consumers about the importance of preventative health, and through this lens, is revolutionizing the way individuals think about and use their HSA and FSA funds. Together with Peloton, which is known for its pioneering, innovative fitness solutions that have become an integral part of millions of lives, this offering marks a major moment in incentivizing fitness as a valuable lever of health intervention.
“At Peloton we are committed to making fitness and wellbeing accessible to anyone, anywhere,” said Greg Hybl, Senior Vice President of Peloton for Business. “Through our partnership with Truemed, we are making it even easier for qualified customers to utilize their pre-tax HSA and FSA funds, gaining access to our world class content to invest in their health and wellness.”
The process is simple:
- At checkout, consumers select the “Pay with HSA/FSA funds” payment method to be redirected to the Truemed website.
- This is followed by a brief health survey. Once completed, enter an HSA/FSA card or credit/debit card to finalize the checkout process.
- Submitted responses will be reviewed by a licensed medical provider, and if eligibility is confirmed, a Letter of Medical Necessity (LMN) will be issued. (If a credit or debit card is used as payment, reimbursement from the HSA/FSA can be requested).
For more information on how to leverage Truemed HSA/FSA benefits to purchase Peloton products, visit www.onepeloton.com/truemed.
About Truemed
Truemed enables HSA/FSA spending on items that can help cure, treat, mitigate and prevent chronic disease: exercise, supplements, sleep aids, and more. HSA/FSA accounts are a
About Peloton
Peloton (NASDAQ: PTON) provides Members with expert instruction, and world class content to create impactful and entertaining workout experiences for anyone, anywhere and at any stage in their fitness journey. At home, outdoors, traveling, or at the gym, Peloton brings together innovative hardware, distinctive software, and exclusive content. Founded in 2012 and headquartered in
View source version on businesswire.com: https://www.businesswire.com/news/home/20241010735364/en/
Truemed Press Contact:
Jack Taylor
Truemed@Jacktaylorpr.com
Peloton Press Contact:
Jaisa Dominguez
press@onepeloton.com
Source: Truemed
FAQ
What products can be purchased with HSA/FSA funds through the Peloton-Truemed partnership?
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