Individuals who participate in Health Savings Accounts (HSA), Flexible Spending Accounts (FSA), Health Reimbursement Arrangements (HRA), and similar consumer-directed healthcare spending accounts may use their funds for expenses that constitute "medical care" as defined under IRS Section 213. Medical care includes amounts paid for the diagnosis, cure, mitigation, treatment, or prevention of disease, or for the purpose of affecting any structure or function of the body.

Not all products or services qualify for HSA/FSA reimbursement. Eligibility depends on the individual's specific medical conditions and the clinical determination of medical necessity by a licensed healthcare provider.

Certain products — referred to as dual-use items — may be eligible for HSA/FSA reimbursement when a licensed healthcare provider issues a Letter of Medical Necessity (LMN). An LMN represents the provider's professional opinion, based on the health information submitted by the individual, that a product or service is medically necessary for the purpose of treating, preventing, curing, or mitigating a specific health condition.

Each LMN is issued at the sole discretion of the reviewing provider. Submission of a health survey does not guarantee issuance of an LMN. VeloMED's AI-assisted evaluation serves as a clinical decision support tool; the final determination is always made by a licensed provider.

VeloMED partners with a network of independently licensed healthcare providers who review health surveys and issue Letters of Medical Necessity. These providers operate under their own clinical judgment and licensure. VeloMED does not practice medicine and does not provide medical advice.

Your HSA/FSA plan administrator retains discretion to approve or deny reimbursement claims, even when a valid LMN is provided. Certain plans may limit or exclude specific types of products or services. Individuals should consult their plan administrator for questions about coverage under their specific plan.

Estimated tax savings are based on typical marginal federal and state income tax rates plus applicable payroll taxes for median U.S. earners. Your actual savings will vary based on your filing status, tax bracket, state of residence, deductions, and other factors. Federal and state tax laws are subject to change. This information is provided for educational purposes and does not constitute tax or legal advice. Consult a qualified tax professional for guidance specific to your situation.

When accessing VeloMED's qualification services through a participating merchant, there is typically no additional cost to the consumer for the qualification process. The cost of VeloMED's services is included in the merchant's arrangement with VeloMED and is not passed through as a separate line item.

VeloMED collects health information solely for the purpose of evaluating HSA/FSA eligibility and generating Letters of Medical Necessity. This data is encrypted at rest and in transit, stored in HIPAA-ready infrastructure, and never sold to third parties. Individuals may request deletion of their health data by contacting privacy@velomed.com.

VeloMED's support for certain merchant products does not imply that all products offered by that merchant are HSA/FSA-eligible. Eligibility is determined on a per-product, per-individual basis through the clinical evaluation process. Merchants are responsible for ensuring that products submitted for HSA/FSA qualification are accurately described.