Echelon customers can now use HSA or FSA savings to buy Echelon-connected equipment, memberships and workout accessories
Echelon is the latest fitness brand to partner with Flex, a health and wellness payment solution provider, making it easier for consumers to purchase fitness equipment and services using their Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs).
The partnership is expected to deliver Echelon customers a net savings of 30-40%, according to Flex.
“At Echelon, we’re committed to providing the tools and inspiration people need to achieve their best selves,” Echelon founder and CEO Lou Lentine said. “Partnering with Flex allows us to make our fitness solutions more accessible while providing a seamless and rewarding payment experience. Since launching this partnership, we’ve seen significant growth in HSA/FSA transactions, benefiting both our customers and our business.”
Echelon’s partnership with Flex mirrors a recent collaboration with recovery wellness tech brand Kineon, makers of the MOVE+, an FDA-registered and medical-grade laser using red and infrared light therapy to address pain and inflammation. Other brands working with Flex include smart ring maker Ultrahuman, Forme, Centr, CorePower Yoga, Orangetheory, iFIT and Tempo.
“Our mission at Flex is to help consumers maximize their HSA/FSA benefits while accessing the best in health and wellness,” Flex CEO Sam O’Keefe said. “By teaming up with Echelon, we’re transforming the payment experience and supporting a brand that’s inspiring people to move, improve and thrive.”
Echelon’s timing couldn’t be better, as the fitness equipment brand launches a new suite of products, including the Strength Home, an all-in-one connected strength training system. Notably, Echelon also recently launched ActiveMD, a subsidiary company with an online telehealth platform offering weight loss medications along with workout plans.
“We understand that people are taking these GLP-1s so they’re losing muscle mass,” Lentine said. “We believe if we can combine S1 with the at-home health care, we can provide a better program than someone just buying the GLP-1 and then losing muscle mass. We’re trying to make it a better program for them than just buying a product on its own.”
Industry-wide, fitness and wellness brands are increasingly leveraging HSA/FSA benefits to expand their consumer base and help reduce cost barriers.
This month, group fitness franchisor Orangetheory introduced an HSA/FSA payment solution through its telehealth partner Dr. B. The platform streamlines the process by offering letters of medical necessity for qualified individuals and has also teamed up with F45 Training, BODi (formerly Beachbody) and boutique fitness software provider Xplor Mariana Tek. Similarly, telehealth platform Truemd has struck partnerships with Peleton, Crunch Fitness and CorePower Yoga, while wellness recovery tech brand Hyperice has aligned aligned with Sika Health..
