Flex empowers health and wellness manufacturers with seamless HSA/FSA cost options, turning healthcare {dollars} into enterprise progress
The wellness business is increasing quickly, pushed by shoppers’ rising curiosity in well being and their want for larger management and transparency. As extra well being spending shifts past the physician’s workplace to direct-to-consumer services and products, there’s a vital have to bridge the monetary hole between well being and healthcare. Flex, an HSA/FSA resolution supplier, is on the heart of this unification.
“Customers are more and more taking management of their well being journey, leveraging expertise and at-home options to watch and enhance their wellbeing by diagnostic exams, wearables, apps and way of life interventions,” mentioned Sam O’Keefe, Flex CEO. “Our objective is easy: to make HSA/FSA funds accessible wherever shoppers spend on their well being.”
Well being financial savings accounts (HSAs) and versatile spending accounts (FSAs) current a large income alternative for health and wellness manufacturers. With over $150 billion accessible in these accounts, shoppers have substantial funds to spend money on their well-being.
Various cost strategies have already confirmed to be highly effective drivers of progress — whether or not by purchase now, pay later choices in e-commerce or ACH funds in health studios. These options not solely entice new clients and members but in addition enhance retention over time. Flex empowers manufacturers to harness these cost improvements, unlocking new income streams and turning up buyer engagement.
Clearing Complexities
Flex offers a seamless, expert-driven resolution for health and wellness manufacturers seeking to settle for HSA/FSA funds. The platform not solely allows eligibility at checkout but in addition simplifies your entire course of, providing experience in compliance, reimbursement and required documentation.
Flex helps eligible funds, letters of medical necessity, reimbursements and extra — all whereas making certain clean transaction completion. Getting began is fast and hassle-free, with no scheduling required. As an alternative, customers can full a chat-based telehealth go to with a licensed healthcare supplier to acquire the required documentation for HSA/FSA reimbursement.
“We begin by conducting a radical evaluation of your services and products,” defined O’Keefe. “Via this audit, we decide which gadgets may be routinely accredited and which require a Letter of Medical Necessity to adjust to IRS tips. Based mostly on these findings, we customise your HSA/FSA integration to create the smoothest attainable checkout expertise.”
Flex then facilitates cost by a single, streamlined checkout movement designed to maximise conversion charges. Its real-time analytics dashboard additionally provides manufacturers clear visibility into their HSA/FSA transactions, enabling them to handle and optimize these channels successfully.
Past funds, Flex actively connects its group of high-intent HSA/FSA patrons with companion manufacturers by the Flex Market, publication and social media channels. This not solely retains each companies and shoppers well-informed but in addition helps drive extra gross sales and financial savings.
The HSA/FSA Distinction
Flex reviews their companions have attracted new clients, increased common order worth and boosts in subscription retention. Customers additionally profit by saving 30–40% on purchases made with their HSA/FSA, Flex says.
“By accepting HSA/FSA funds, companies can entice this rising section of health-conscious clients who actively handle their wellness journey,” mentioned O’Keefe. “The power to make use of HSA/FSA funds makes wellness merchandise extra accessible and reasonably priced.”
Extra is Coming
As HSA/FSA adoption accelerates throughout the well being and wellness business, Flex is experiencing fast progress, bringing its cost options to an increasing community of companions. The platform is already powering funds for main manufacturers comparable to Echelon, Kineon, iFIT, Trainwell, Ultrahuman, Ampfit and others, serving to them unlock new income streams by HSA/FSA eligibility.
Since launching this partnership [with Flex], we’ve seen important progress in HSA/FSA transactions, benefiting each our clients and our enterprise, “ Echelon founder and CEO Lou Lentine said.
“We’re continuously increasing our capabilities — whether or not meaning integrating with new platforms or refining our checkout course of to maximise conversion charges,” added O’Keefe. “Each enchancment we make is targeted on one factor: serving to our companions succeed.”
