Garmin teams up with Truemed to unlock HSA/FSA funds for fitness products

Rhea-AI Summary

Garmin (NYSE: GRMN) is partnering with Truemed to allow qualified U.S. customers to use pre-tax HSA/FSA funds to seek reimbursement for eligible Garmin smartwatches, fitness trackers, Tacx trainers and Edge cycling computers.

The program requires customers to complete a private health assessment; a licensed provider reviews responses and eligible customers receive a Letter of Medical Necessity (LMN) within 1–2 days. Customers submit the LMN to their HSA/FSA administrator and claims are usually paid in 2–4 weeks. Garmin says using pre-tax dollars can save customers up to 30% (assumes a 30% combined tax rate; individual tax rates vary). More details and the eligibility flow are available at Garmin.com/truemed.

Positive

• Eligible purchases can save customers up to 30% using pre-tax HSA/FSA funds
• Licensed provider issue of LMN within 1–2 days for eligible customers
• Reimbursement claims are typically processed in 2–4 weeks

Negative

• Program requires completion of a private health assessment and licensed-provider review for eligibility
• Savings example assumes a 30% combined tax rate; individual tax rates vary

Reimbursement program allows  qualified U.S. customers to use pre-tax dollars on smartwatches and cycling products

OLATHE, Kan., Oct. 23, 2025 /PRNewswire/ -- Garmin (NYSE: GRMN) is teaming up with healthcare payments provider Truemed to help qualified customers tap into pre-tax HSA/FSA funds for reimbursement of qualifying purchases of fēnix®, Forerunner®, Instinct®, Lily®, Venu®, vívoactive® and vívosmart® smartwatches and fitness trackers, as well as Tacx® cycling trainers and Edge® cycling computers. Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) allow consumers to use pre-tax dollars to pay for healthcare expenses, saving up to 30% on select Garmin products.

"We are thrilled to work with Truemed to provide  qualified customers with an easy and convenient way to extend their purchasing power by using pre-tax dollars to buy eligible Garmin products. This exciting collaboration is one more way Garmin is helping empower our customers to reach their health and fitness goals." —Susan Lyman, Garmin Vice President Consumer Sales and Marketing

The collaboration between Garmin and Truemed will help eligible customers prioritize their health journeys and enjoy significant cost savings on Garmin's premium fitness smartwatches and cycling products that are beloved by athletes and performance-minded customers all over the world.

" By collaborating with Garmin, a leading global brand, Truemed enables qualified individuals to use their HSA/FSA funds to proactively prevent and monitor health conditions with Garmin's eligible fitness products. This collaboration expands financial accessibility to effective lifestyle interventions and helps drive meaningful, lasting improvements in users' health ." —Justin Mares, Co-Founder and CEO of Truemed

Here's how it works:

• Make your purchase: Use your normal payment method to complete the purchase of any eligible Garmin product.
• Complete a health assessment: On your order confirmation screen or email, click the link to fill out a private health survey. A licensed provider will review your answers to determine eligibility, and eligible customers will receive a Letter of Medical Necessity (LMN) within 1-2 days.
• Submit for HSA/FSA reimbursement: Follow the guide included with your LMN to submit your purchase for reimbursement. Claims are usually paid out in 2-4 weeks.

For more information on how to leverage HSA/FSA benefits to reimburse your purchase of Garmin products, visit Garmin.com/truemed. Or check out our blog post.

Engineered on the inside for life on the outside, Garmin products have revolutionized life for runners, cyclists, swimmers and athletes of all levels and abilities. Committed to developing technology that helps people stay active and elevate performance, Garmin believes every day is an opportunity to innovate and a chance to beat yesterday. Visit the Garmin Newsroom, email our media team, connect with @garmin on social, or follow our blog.

¹ Savings based on use of pre-tax dollars instead of after-tax dollars and assumes 30% combined tax rate from all applicable federal, state, and FICA taxes.  Individual tax rates vary.

About Garmin International, Inc.
Garmin International, Inc. is a subsidiary of Garmin Ltd. (NYSE: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin is a registered trademark. Garmin, Edge, fēnix, Forerunner, Instinct, Lily, Tacx, Venu, vívoactive and vívosmart are registered trademarks of Garmin Ltd or its subsidiaries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.

About Truemed
Truemed enables HSA/FSA spending on items that can help cure, treat, mitigate and prevent chronic disease: exercise, supplements, sleep aids, and more. HSA/FSA accounts are a $140 billion pot of funds that qualified Americans can unlock to treat and alleviate chronic conditions that many have. For more information, visit www.truemed.com.

Notice on Forward-Looking Statements
This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management's current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 28, 2024, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983), and the Quarterly Report on Form 10-Q for the quarter ended September 26, 2025 filed by Garmin with the Securities and Exchange Commission (Commission file number 001-41118). Copies of such Form 10-K and Form 10-Q are available at http://www.garmin.com/aboutGarmin/invRelations/finReports.html. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Contact
Krista Klaus
Garmin International, Inc.
Phone | 913-397-8200
E-Mail | media.relations@garmin.com

 

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SOURCE Garmin International, Inc.

FAQ

Which Garmin products are eligible for HSA/FSA reimbursement under the Truemed program (GRMN)?

Eligible products include fēnix, Forerunner, Instinct, Lily, Venu, vívoactive, vívosmart, Tacx trainers and Edge cycling computers.

How do Garmin (GRMN) customers get an LMN to submit for HSA/FSA reimbursement?

After purchase, click the health assessment link on your order confirmation; a licensed provider reviews answers and issues an LMN within 1–2 days if eligible.

How long does Garmin HSA/FSA reimbursement take after submitting the LMN for GRMN purchases?

Claims are usually paid out in 2–4 weeks after submission to your HSA/FSA administrator.

How much can customers save using HSA/FSA funds on Garmin (GRMN) products?

Garmin cites savings of up to 30% when using pre-tax dollars, based on a 30% combined tax rate; actual savings depend on your tax situation.

Where can I find more information on using HSA/FSA benefits for Garmin (GRMN) purchases?

Visit Garmin.com/truemed for program details, the eligibility flow, and step-by-step reimbursement instructions.

Do all Garmin purchases automatically qualify for HSA/FSA reimbursement under the Truemed program (GRMN)?

No; customers must complete a health assessment and receive an LMN from a licensed provider to be considered eligible.