Can I Use My HSA Card to Pay for Peloton?

Many individuals are exploring different ways to stay active and healthy, with the Peloton bike gaining popularity as a convenient home workout option. However, you may be wondering if you can use your HSA (Health Savings Account) card to pay for a Peloton purchase.

As an HSA is designed to help cover qualified medical expenses, knowing what can and cannot be purchased with your HSA card is essential.

While Peloton equipment is primarily used for fitness purposes, the IRS has specific guidelines regarding what qualifies as a medical expense under an HSA. Generally, purchases that are solely for general health and fitness, without a specific medical need, may not be eligible for HSA reimbursement.

However, there are instances where using your HSA card for a Peloton purchase could be allowed:

• If a healthcare provider prescribes the Peloton equipment as part of a treatment plan for a specific medical condition.
• If the purchase is deemed necessary for medical reasons and not simply for general fitness.

If you're invested in your health and considering the benefits of a Peloton bike, it’s natural to think about using your HSA (Health Savings Account) card to make that purchase. Though appealing, it's crucial to understand the guidelines surrounding HSA funds.

While Peloton bikes contribute to fitness and wellness, only specific medical needs qualify for HSA expenses according to IRS regulations.

To possibly use your HSA for a Peloton purchase, ensure that:

• It is prescribed by a healthcare professional as part of managing a chronic condition.
• The use of the equipment is essential for treatment and not merely for general fitness purposes.