When it comes to claiming memberships—like gym, swim, or fitness club memberships—through your Wellness Spending Account (WSA), the rules are a bit more flexible than for other expenses. Let’s explore how WSA memberships are handled and how you can maximize your reimbursement!
Flexible Allocation for Memberships
Unlike one-time purchases, memberships that span more than one benefit year can be claimed in a way that works best for you. Here’s how it works:
Claim it against either year: If your membership starts in one year and continues into the next, you can choose to apply the entire expense to one benefit year or split it across both.
Partial reimbursements: If you don’t have enough funds remaining in one year, you can claim part of the cost and submit the remainder against the next year’s allocation. Just remember to include a memo to the adjudicator letting them know!
Example Scenarios
Here are a few examples to illustrate:
Full reimbursement in one year:
You purchase a one-year gym membership for $500 in December 2024.
You claim the full $500 against your 2024 funds, even though the membership extends into 2025.
Splitting the cost over two years:
You purchase a one-year swim membership for $600 in November 2024.
You claim $300 against your 2024 funds and the remaining $300 against your 2025 funds during the grace period.
Claiming under the new year:
You purchase a fitness club membership for $400 in December 2024 but decide to claim it fully against your 2025 funds during the grace period.
What You Need for Reimbursement
To process your claim, make sure you provide:
Proof of purchase: A receipt or receipts (bank statements work too) showing the amount paid and the purchase date (or withdrawal dates if automatic payments).
When it comes to memberships, we’re all about giving you options because we really want to support your fitness journey. Whether you prefer to allocate the cost to one year or split it across two, you have the freedom to decide what works best for your funds. just remember, WSA claims are taxable based on the year they are reimbursed!
If you have questions about how to submit your claim or need guidance on using your WSA, we’re here to help. Reach out anytime to support@getmyhsa.com or open a live chat.