For those with qualifying medical conditions like chronic pain, sleep apnea, or mental illness, one of the best mattresses could be eligible for purchase with pre-tax dollars from your Flexible Spending Account (FSA) or Health Savings Account (HSA) funds. This process saves you money while also letting you use your FSA funds before they expire at the end of each year.
While you can't buy mattresses directly on FSA/HSA stores, many mattress brands — like Sleep Number, Nectar, and Purple — partner with companies like TrueMed and Sika to help people with qualifying medical conditions use their pre-tax dollars to buy a mattress. Not everyone qualifies to use their HSA/FSA funds for a mattress, but it's easier to qualify than you may think.
We've gathered everything you need to know about using HSA/FSA funds to buy a mattress, including why you should do it, who qualifies, and which mattresses are eligible.
The top 3 mattresses to buy with HSA/FSA funds
Who qualifies to use HSA/FSA funds to buy a mattress?
Not everyone can use their HSA/FSA funds to buy a mattress. A mattress is only available for reimbursement if it "treats, reverses, or prevents a diagnosed medical condition," and requires a Letter of Medical Necessity (LMN) from a doctor. Services like TrueMed and Sika make it easy and free to find out if you qualify and link you to a provider that can provide the LMN.
Since sleep is integral to health, there are a wide range of conditions that could qualify you to use your HSA/FSA on a new mattress. These include mental health conditions like anxiety and depression; sleep disorders like sleep apnea, insomnia, and chronic fatigue; chronic pain, including arthritis and fibromyalgia; and diseases like autoimmune disease, heart disease, and diabetes. If you've been deemed "overweight" or "obese" by a doctor, you might be eligible, too. Regardless of your condition, your new mattress must actively improve or impact your health.
Why use HSA/FSA funds to buy a mattress?
The short answer is: It'll save you money. Since money in your HSA or FSA is pre-tax, you have more spending power using these funds. Your HSA/FSA can cover sales tax, too.
Also, FSA funds are "use it or lose it" and expire at the end of the year. If you have leftover funds, using them to buy a new mattress prevents it from going to waste.
How to use HSA/FSA funds to buy a mattress
Using your HSA/FSA funds to buy a mattress is simple. At each retailer's website, you'll add products to your cart as usual. When you get to the payment screen, select the option that says "pay with HSA/FSA." This will lead you to a health survey. Once complete, you'll be prompted to check out. Most companies recommend checking out with your personal credit card and submitting a reimbursement request, but there's also the option to pay directly from your HSA/FSA card, too. If you want to use part of your savings to pay for the mattress but don't have enough to cover the entire purchase in your account, then put it on your normal credit or debit card. This way, you'll easily be reimbursed for the funds you do use without making the cost splitting complicated.
If you qualify, you'll receive an electronic LMN in your inbox within about 24 to 48 hours. You can then send it to your savings account provider to start your reimbursement.
Importantly, your funds won't fully cover the cost of a mattress since HSA/FSA funds can only be used for mattress features that actively improve your health, like cooling properties or extra support. When we completed the survey and ran queen-size Purple and DreamCloud mattresses through TrueMed, the cost of the mattress was covered except for $223 — an average price for a basic mattress. It even covered the in-home setup on the Purple. Essentially, your funds can pay up to 90% of the mattress's price.
What mattresses are HSA/FSA eligible?
While you can't use HSA and FSA funds to buy any mattress on the market, there's a sizable list of comfortable mattresses that are eligible. Notably, the Nectar Classic Mattress, one of the best mattresses for back pain, is available for purchase with HSA/FSA funds.
Purple
Purple's qualification system is run through TrueMed. At checkout, click the "Pay with HSA/FSA" button in payment options. This will take you to the health survey. If you qualify, you can pay and submit a reimbursement request. Read our Purple mattress review to learn about all of Purple's beds in one place.
Nectar
Like Purple, you can either use an HSA/FSA at checkout on eligible mattresses or submit a reimbursement request after you're confirmed. After checkout, you'll receive a survey from TrueMed. If you don't have enough funds to cover the entire mattress, Nectar recommends paying with your personal credit card and then using the reimbursement request.
Sleep Number
At Sleep Number, you don't pay directly through your savings account. Instead, you complete the purchase as normal, indicate during checkout that you'd like to use HSA/FSA funds, then take the health survey. If you qualify, you'll receive a Letter of Medical Necessity, which you'll then send your documentation to your HSA or FSA provider for reimbursement.
Saatva
Saatva does things a little differently, even though it's also partnered with TrueMed. First, you'll make a qualifying mattress purchase using your debit or credit card as usual. Then, you'll complete a health survey on the same day as your purchase. If you're eligible, you'll receive a LMN within one to two days, and you'll be able to submit a reimbursement request. Read our review of Saatva's entire mattress lineup.
Leesa
When shopping at Leesa, you can choose to pay directly from an HSA/FSA account or file a reimbursement after receiving your LMN. Our favorite mattress of all time, the Leesa Sapira, is eligible for purchase with HSA/FSA funds. Read our review of Leesa's mattress lineup.
Avocado
To qualify with Avocado, you take the health survey from Sika prior to checking out. Then, with your LMN in hand, you'll make your purchase using your HSA/FSA, which Sika will confirm before sending you an email with reimbursement instructions.
Other mattresses
GhostBeds, PlushBeds, Zinus, Dreamcloud, Helix, Birch, Bear, Big Fig and Essentia all partner with TrueMed, and the process is similar to Purple and Nectar. After choosing to pay with HSA/FSA at checkout, you'll take a survey. If you qualify, you'll receive your LMN and check out using either your HSA/FSA funds or your credit or debit card for later reimbursement.
What other sleep products can you buy with an HSA/FSA?
In addition to mattresses, you can also buy pillows, adjustable bases, alarm clocks, and even weighted blankets using your HSA/FSA funds. And while HSA/FSA-eligible mattresses are rare on third-party retailers, you can find a slew of eligible sleep goods and accessories at Amazon's HSA/FSA Storefront and the dedicated FSA and HSA Stores. Just like with a mattress, you'll have to qualify for an LMN. We've included a few of our favorite eligible products below.
Adjustable bases
Bedding
Mattress toppers
Alarm clocks
The bottom line
If you have a qualifying medical condition like a sleep disorder, mental illness, or chronic pain, using your HSA/FSA funds could save you money when buying a new mattress. It's a great way to spend FSA funds before they expire at the end of the year. Not all mattresses are eligible, but brands simplify the process by partnering with companies like TrueMed, which help determine eligibility and provide letters of medical necessity for reimbursement.
The post Everything to know about using FSA or HSA funds to buy a new mattress appeared first on Business Insider
