Meta and Ray-Ban: AI Glasses Expand into Health Funds

Meta and Ray-Ban AI Glasses: New Eligibility

Meta has established a strategic partnership with the HSA and FSA marketplace Truemed to make its AI smart glasses eligible for purchase using funds from pre-tax health savings accounts and flexible spending accounts. The models included are the Ray-Ban Meta, Oakley Meta, and Meta Ray-Ban Display, provided they are ordered with a prescription from the Meta store. This decision follows Meta's launch of two new AI Ray-Ban glasses, the Ray-Ban Meta Blayzer Optics (Gen 2) and Ray-Ban Meta Scriber Optics (Gen 2).

Expanded Coverage for Wellness Devices

AI glasses are not the only surprising devices that HSA or FSA accounts might cover. Chris Byrd, senior vice president at WEX, a global commerce platform that administers these accounts, stated that these accounts are no longer solely reserved for emergencies. Among the eligible health technology devices are massage guns, such as the Theraguns from Therabody, available starting at $200. Two models from the Caring Mill by Aura brand, an in-house brand of HSA and FSA stores, are also eligible. One of them even features heating and is sold in a pack of two. There is also a vibrating and heating foam roller, as well as the TheraCup from Therabody for cupping therapy combined with heat and vibration.

Wearable Devices and Health Monitors

The Oura Ring, a favorite of CNET, is now HSA and FSA eligible. Consumers can place an order through Oura Ring using their FSA or HSA card, or submit their purchase for later reimbursement. Additionally, the Whoop 4.0, our top sleep tracker, and the Whoop 5.0 are available in FSA and HSA stores. Purchasing the Whoop 5.0 includes the SuperKnit band, a 12-month subscription, a waterproof Wireless PowerPack, and a lifetime warranty.

Blood pressure monitors are also available in these stores. The Garmin Index BPM Smart Blood Pressure Monitor is offered for $200. It features built-in Bluetooth and Wi-Fi and can be connected to your smartphone via the Garmin Connect app. At a more affordable price of $85, the Omron Evolv Wireless Upper Arm Blood Pressure Monitor connects to smart devices through an app to help you track your blood pressure readings.

Other Covered Devices

For $80, you can get the Garmin Heart Rate Monitor 200, which provides heart rate data that can be sent to smartwatches, apps, and other compatible devices. It is available in two sizes: XS-S and M-XL.

A red light therapy LED mask may also be covered by your HSA or FSA. Whether you are looking for a red light therapy LED mask like the one from Dr. Dennis Gross or a panel like the one from reVive for your skincare routine, you might be able to get it covered using your HSA or FSA.

Compression boots are also listed in HSA and FSA stores. The Therabody JetBoots, compression boots that reduce muscle pain, increase blood flow, and promote recovery, are available. The JetBoots Prime costs $600, while the JetBoots Pro Plus is priced at $1,200.

Devices for Babies and Pets

Wellness devices covered by HSA and FSA are not just for adults. Baby monitors, such as the Nanit Pro Camera for $250 and the Owlet Dream Duo for $430, can be purchased using these accounts. The Dream Duo even comes with a sock that can track your baby's oxygen levels, heart rate, and sleep trends.

Whisker recently announced that in partnership with the HSA/FSA e-commerce platform Sika Health, its automatic litter devices are the first and only of their kind to be HSA and FSA eligible for pet owners with medical conditions — such as limited mobility, pregnancy, chronic pain, arthritis, allergies, and other conditions. This includes items from Whisker's new Litter-Robot range, as well as the Feeder-Robot for automatic meals. A letter of medical necessity is required for the purchase, which can be facilitated by Sika Health, and Whisker fully covers the $30 processing fee for the LMN. Free shipping is also offered (excluding Alaska, Hawaii, and Puerto Rico) with a 90-day trial.

Check the Eligibility of Your Items

Chris Byrd explains that it is important to pay attention to the fine print and the eligibility requirements for HSA or FSA. Generally, eligibility is tied to use for the treatment of a medical condition. If the item or service is intended for general health and wellness or cosmetic reasons, it will typically not be eligible. Items like the Theragun and anti-acne masks fall into this category, where they are HSA eligible, conditioned on a medical need. In such cases, a note from a medical practitioner, commonly referred to as a letter of medical necessity, is usually required. To ensure that an item is HSA eligible, check your HSA provider's online dashboard or app.

Differences Between HSA and FSA

The main difference is that an HSA is an individually held account, Byrd explains. It can be set up through an employer plan or individually with the HSA provider of your choice. It stays with you even if you change jobs, whereas an FSA is tied to your employer and often has a 'use it or lose it' rule at the end of the plan year. Those participating in an HSA must be enrolled in a qualified HSA health insurance plan, while FSAs work with any group health insurance plan. Another key difference that people may not realize is that they can invest HSA funds, but not FSA funds. Depending on your provider, you may be able to invest your HSA funds in mutual funds or index funds, allowing your money to grow tax-free over time for future health expenses.