I was just looking at Canyon’s end of season sale and noticed this option to pay with HSA/FSA, which never occurred to me as an option. Has anyone ever purchased a new bike using HSA/FSA funds or tried and failed? Thanks.
by kcDemonSlayer
I was just looking at Canyon’s end of season sale and noticed this option to pay with HSA/FSA, which never occurred to me as an option. Has anyone ever purchased a new bike using HSA/FSA funds or tried and failed? Thanks.
by kcDemonSlayer
6 Comments
They will probably deny it.
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It’s done through a company that essentially writes a medical necessity script so it won’t be denied.
Personally, while I think a bike should be legal to buy with an HSA, I worry that the HSA will now be a victim of oversight backlash.
A lot of folks don’t realize how advantaged it is. Especially if you are young and healthy. It covers any medical expense (including premiums on COBRA and travel to the doctor) and is tax free in and out. It also converts to an IRA at retirement age.
But the using it to buy a bike is definitely going to piss some legislator off and people always fuck up a good thing with greed.
Why don’t you just try and see what happens
I think a doctor has to prescribe specific exercise for this to work. People tried the same to buy a Peloton.
Damn I was wondering how to use my HSA for a new MTB a few years ago.