Flex: Stripe for HSA/FSA payments
Summary
Were excited to introduce Flex Market, a new marketplace designed to make health and wellness more accessible.Heres a glimpse of what youll find on Flex Market:For products like supplements, fitness equipment or other dual use items, consumers are required to have a doctors note, or Letter of Medical Necessity (LMN), to qualify to spend their HSA/FSA funds.Flex is the only place where consumers can both shop for traditional healthcare products (think what you might expect to find at a CVS) as well as those items that require a Letter of Medical Necessity (LMN). For those that require the latter, consumers can initiate a two minute telehealth consultation immediately, qualify, and receive their LMNs later that day.Health Savings Accounts and Flexible Spending Accounts are tax advantaged accounts that are designated to be spent on healthcare related purchases. Historically these funds have only been able to be spent on trips to the doctors office or buying items at CVS.FSAs are use-it-or-lose-it, meaning that at the end of the year any funds that arent spent are forfeited. On average, individuals lose about $450 per year, resulting in nearly $10B of lost benefits.Flex Market isnt just a shopping platform its part of a larger mission to make health and wellness more accessible.By addressing the barriers of traditional HSA/FSA spending, were helping people: Discover new ways to invest in their healthIf you or someone you know has FSA funds to spend before year-end or is gearing up for health-related purchases as part of a New Years resolution, check out Flex Market! If youre interested in seeing your brand on the marketplace, reach out to us here.Thanks so much for your support and heres to a healthier 2025!