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BODi and Truemed Partnership to Provide Pre-Tax Reimbursement for BODi Health and Fitness Supplements

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BODi (NYSE: BODI) has announced a strategic partnership with Truemed, enabling qualifying customers to use pre-tax HSA or FSA funds for purchasing BODi nutritional supplements and fitness offerings. This collaboration allows customers to save up to 40% on BODi products, including Shakeology and the Beachbody Performance line. To qualify, customers must complete an online medical assessment with Truemed to obtain a Letter of Medical Necessity (LMN), valid for one year. The partnership aims to make health and wellness more accessible to the over 40% of Americans with HSA/FSA accounts. Eligible customers can receive reimbursement for their purchases by submitting their LMN and BODi receipts to their HSA or FSA administrator.

BODi (NYSE: BODI) ha annunciato una partnership strategica con Truemed, che consente ai clienti idonei di utilizzare fondi HSA o FSA pre-tassati per l'acquisto di integratori nutrizionali e offerte di fitness BODi. Questa collaborazione permette ai clienti di risparmiare fino al 40% sui prodotti BODi, inclusi Shakeology e la linea Beachbody Performance. Per qualificarsi, i clienti devono completare una valutazione medica online con Truemed per ottenere una Lettera di Necessità Medica (LMN), valida per un anno. L'obiettivo della partnership è rendere la salute e il benessere più accessibili al oltre il 40% degli americani con conti HSA/FSA. I clienti idonei possono ricevere un rimborso per i loro acquisti presentando la loro LMN e le ricevute BODi al loro amministratore HSA o FSA.

BODi (NYSE: BODI) ha anunciado una asociación estratégica con Truemed, que permite a los clientes elegibles usar fondos HSA o FSA antes de impuestos para comprar suplementos nutricionales y ofertas de fitness de BODi. Esta colaboración permite a los clientes ahorrar hasta un 40% en productos de BODi, incluyendo Shakeology y la línea Beachbody Performance. Para calificar, los clientes deben completar una evaluación médica en línea con Truemed para obtener una Carta de Necesidad Médica (LMN), válida por un año. La asociación tiene como objetivo hacer que la salud y el bienestar sean más accesibles para más del 40% de los estadounidenses con cuentas HSA/FSA. Los clientes elegibles pueden recibir reembolsos por sus compras al presentar su LMN y recibos de BODi a su administrador de HSA o FSA.

BODi (NYSE: BODI)는 Truemed와의 전략적 파트너십을 발표하며, 자격이 있는 고객들이 HSA 또는 FSA의 세금 전 자금을 사용하여 BODi의 영양 보충제와 피트니스 제품을 구매할 수 있게 되었습니다. 이 협력을 통해 고객들은 Shakeology 및 Beachbody Performance 라인을 포함하여 BODi 제품에서 최대 40%의 할인을 받을 수 있습니다. 자격을 갖추기 위해 고객들은 Truemed와 함께 온라인 의학적 평가를 완료해야 하며, 이를 통해 1년 동안 유효한 의학적 필요 서한(LMN)을 받을 수 있습니다. 이 파트너십은 HSA/FSA 계좌를 가진 미국인 40% 이상에게 건강과 웰빙을 더 쉽게 접근할 수 있도록 하는 것을 목표로 하고 있습니다. 자격이 있는 고객들은 LMN 및 BODi 영수증을 HSA 또는 FSA 관리자에게 제출하여 구매 시 환급을 받을 수 있습니다.

BODi (NYSE: BODI) a annoncé un partenariat stratégique avec Truemed, permettant aux clients éligibles d'utiliser des fonds HSA ou FSA avant impôt pour l'achat de suppléments nutritionnels et d'offres de fitness BODi. Cette collaboration permet aux clients d'économiser jusqu'à 40 % sur les produits BODi, y compris Shakeology et la ligne Beachbody Performance. Pour être éligibles, les clients doivent remplir une évaluation médicale en ligne avec Truemed afin d'obtenir une Lettre de Nécessité Médicale (LMN), valable pendant un an. Le partenariat vise à rendre la santé et le bien-être plus accessibles aux plus de 40 % des Américains ayant des comptes HSA/FSA. Les clients éligibles peuvent recevoir un remboursement de leurs achats en soumettant leur LMN et leurs reçus BODi à leur administrateur HSA ou FSA.

BODi (NYSE: BODI) hat eine strategische Partnerschaft mit Truemed angekündigt, die es qualifizierten Kunden ermöglicht, vorsteuerliche HSA- oder FSA-Mittel zum Kauf von BODi-Nahrungsergänzungsmitteln und Fitnessangeboten zu verwenden. Diese Zusammenarbeit ermöglicht es den Kunden, bis zu 40% auf BODi-Produkte, einschließlich Shakeology und der Beachbody Performance Linie, zu sparen. Um sich zu qualifizieren, müssen die Kunden eine Online-Gesundheitsbewertung mit Truemed abschließen, um einen Letter of Medical Necessity (LMN) zu erhalten, der ein Jahr gültig ist. Ziel der Partnerschaft ist es, Gesundheit und Wellness für über 40% der Amerikaner mit HSA/FSA-Konten zugänglicher zu machen. Berechtigte Kunden können eine Erstattung für ihre Einkäufe beantragen, indem sie ihren LMN und die BODi-Belege bei ihrem HSA- oder FSA-Administrator einreichen.

Positive
  • Partnership with Truemed allows customers to use pre-tax HSA/FSA funds for BODi products
  • Potential savings of up to 40% on BODi supplements for qualifying customers
  • Increased accessibility to health and wellness products for over 40% of Americans with HSA/FSA accounts
  • Streamlined process for obtaining Letter of Medical Necessity without on-site doctor visits
Negative
  • None.

Insights

This partnership between BODi and Truemed is a strategic move that could potentially boost BODi's revenue and market share. By enabling customers to use pre-tax HSA/FSA funds for supplements, BODi is effectively reducing the cost barrier for consumers, which could lead to increased sales and customer retention. The potential 40% savings for customers is significant and may attract new health-conscious consumers to BODi's products.

However, the impact on BODi's financials remains to be seen. While this move could increase sales volume, it might also lead to lower profit margins if BODi absorbs any costs associated with the Truemed partnership. Investors should monitor upcoming earnings reports to gauge the effectiveness of this strategy on BODi's bottom line and market position in the competitive health and fitness industry.

This partnership highlights a growing trend in healthcare policy towards preventive care and wellness. By allowing HSA/FSA funds to be used for supplements and fitness offerings, it signals a shift in recognizing the importance of nutrition and exercise in preventing chronic diseases. This aligns with broader healthcare initiatives aimed at reducing long-term healthcare costs.

However, it's important to note that this approach may face regulatory scrutiny. The FDA has strict guidelines on health claims for supplements and the process of obtaining a Letter of Medical Necessity for these products could be subject to review. Investors should be aware of potential regulatory risks and monitor any policy changes that could affect the sustainability of this business model in the long term.

This partnership taps into a significant market opportunity, considering that over 40% of Americans have HSA/FSA accounts. By making their products more accessible to this large consumer base, BODi is positioning itself for potential market share growth in the competitive supplements industry. The convenience of the online qualification process could be a key differentiator, reducing friction in the purchase decision.

However, the success of this initiative will largely depend on consumer education and awareness. BODi will need to effectively communicate the benefits and process to its customer base. Additionally, the long-term impact on brand perception should be monitored, as linking health supplements to medical necessity could either enhance credibility or raise questions among some consumers. Tracking customer acquisition costs and lifetime value will be important in assessing the overall effectiveness of this strategy.

Enables Qualifying Customers to Use HSA (Health Savings Account) or FSA (Flex Savings Account) Funds to Purchase BODi Nutritional Supplements and Fitness Offerings

EL SEGUNDO, Calif.--(BUSINESS WIRE)-- The Beachbody Company, Inc. (NYSE: BODI) (“BODi”), a leading fitness and nutrition company, announced today a strategic partnership with Truemed, a leading healthcare payment provider that helps qualified customers spend their HSA/FSA funds on supplements, exercise and other lifestyle interventions that can help treat or prevent chronic disease. The partnership enables qualifying BODi customers to use their pre-tax HSA or FSA money to pay for supplement purchases from BODi’s best-in-class product portfolio, including its Shakeology superfood nutrition shakes. By using pre-tax income for purchases, BODi customers can access their supplements at a significant discount.

To access the partnership, current and new BODi customers can take an online medical assessment with Truemed to determine if they qualify for a Letter of Medical Necessity (LMN). If approved, the LMN is valid on all supplement purchases for a year and allows customers to save up to 40% on BODi supplements, including both one-time and monthly subscription purchases.

All BODi supplements are approved for reimbursement through Truemed, including Shakeology, BODi’s clinically studied blockbuster superfood nutrition shake that has helped millions of people feel great, lose weight and improve their energy and digestion. Also included are bestsellers such as Energize, BODi’s pre-workout supplement recently touted by CNET as 2024’s best pre-workout supplement for performance. Energize is part of the Beachbody Performance line that also includes Hydrate - a hydration powder that provides all four essential electrolytes: calcium, magnesium, potassium, and sodium, to help fuel any workout, and Recover, a post-workout formula that provides 20 grams of high quality protein and BCAAs to support lean muscle synthesis along with pomegranate extract to help reduce exercise-induced muscle soreness.

“Since our inception more than 25 years ago, BODi’s mission has always been to help people feel their best through our industry-leading fitness and nutrition solutions,” said Carl Daikeler, BODi’s Co-Founder and Chief Executive Officer. “We believe that health and wellness should be accessible to everyone, and that health savings should be available for the products consumers use to improve their wellness. We are so thrilled to partner with Truemed to make our line of world class supplements and fitness offerings more affordable to the more than 40% of Americans with HSA/FSA accounts.”

Justin Mares, CEO at Truemed, commented, “We’re very excited about this new partnership. Qualified BODi customers will now be able to use their pre-tax funds for BODi’s evidenced-backed supplements. After answering a few qualifying questions and being approved by a licensed medical practitioner, eligible customers will receive a Letter of Medical Necessity via email, which along with their receipt from BODi, allows them to receive reimbursement for the purchase from their HSA or FSA account. It’s that simple.”

Without the need for an on-site doctor visit, this partnership saves time and money for those who qualify. BODi customers 18 and older in all 50 U.S. states and Washington, D.C. will need to complete Truemed’s online medical qualification form, which they can do directly from Truemed’s website or via the link in their BODi order confirmation email. After completing this process, qualified customers will receive their Letter of Medical Necessity which can then be submitted to their HSA or FSA administrator with BODi receipts for reimbursement.

About BODi and The Beachbody Company, Inc.

Originally known as Beachbody, BODi has been innovating structured step-by-step home fitness and nutrition programs for 25 years such as P90X, Insanity, and 21-Day Fix, plus the first premium superfood nutrition supplement, Shakeology. Since its inception in 1999, BODi has helped over 30 million customers pursue extraordinary life-changing results. The BODi community represents millions of people helping each other stay accountable to goals of healthy weight loss, improved strength and energy, and resilient mental and physical well-being. For more information, please visit TheBeachbodyCompany.com.

About Truemed

Truemed enables HSA/FSA spending on items that can help treat or prevent chronic disease: exercise, supplements, sleep aids, and more. HSA/FSA accounts are a $140 billion pool of funds that qualified Americans can unlock for products and services that prevent, treat, and alleviate medical conditions. For more information, visit: truemed.com.

PR@BODi.com

Source: The Beachbody Company, Inc.

FAQ

How can BODi customers qualify for HSA/FSA reimbursement on supplements?

BODi customers can qualify for HSA/FSA reimbursement by completing an online medical assessment with Truemed to obtain a Letter of Medical Necessity (LMN), which is valid for one year on all supplement purchases.

What BODi products are eligible for HSA/FSA reimbursement through the Truemed partnership?

All BODi supplements are approved for reimbursement through Truemed, including Shakeology, Energize, Hydrate, and Recover from the Beachbody Performance line.

How much can BODi customers save on supplements through the Truemed partnership?

Qualifying BODi customers can save up to 40% on supplements by using their pre-tax HSA or FSA funds for purchases.

When did BODi (NYSE: BODI) announce its partnership with Truemed for HSA/FSA reimbursement?

The Beachbody Company, Inc. (NYSE: BODI) announced its strategic partnership with Truemed for HSA/FSA reimbursement on the date of the press release.

The Beachbody Company, Inc.

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