Q: What is HSA/FSA?
A: A Health Savings Account (HSA) is a type of savings account that lets members set aside money on a pre-tax basis to pay for qualified medical expenses.
A Flexible Spending Account (FSA, also called a “flexible spending arrangement”) is a special account a user puts money into that allows them to pay for certain out-of-pocket health care costs and don't pay taxes on this money.
Q: Can any studio accept HSA/FSA as a form of payment?
A: In order to qualify with our payment processor for a merchant code that allows the fitness center to accept HSA/FSA cards, the fitness center or brand would need to employ a licensed medical practitioner and would fall under any of these categories MCC Description Medical professionals that are not described by another, more specific MCC examples include: physical therapists, occupational therapists, phycologists and other health practitioners such as blood banks, planned parenthood clinics, fertility clinics, chemical dependency centers, hearing testing services, licensed massage therapists, surgical hair replacement clinics and sports medicine clinics.
Q: How can I setup my studio to accept HSA/FSA?
A: Please refer this to a support ticket or merchantservices@clubready.com
Q: Using HSA/FSA as a form of payment in ClubReady