Thursday, The Beachbody Company Inc BODI announced a strategic partnership with Dr. B, a telehealth provider that offers $15 online consultations for common conditions in all 50 U.S. states.
The partnership will help qualifying patients use their pre-tax Health Savings Accounts (HSA) or Flex Savings Accounts (FSA) to pay for BODi's platform of health and fitness solutions.
According to the CDC, in the U.S., the percentage of adults using telemedicine services in 2021 was 37%, with slightly more females (42%) using telemedicine than males (31.7%).
BODi users with an HSA or FSA account can go through an online medical consultation with Dr. B to determine whether they qualify for a Letter of Medical Necessity, which would allow for BODi's fitness expenses to be eligible for reimbursement from their pre-tax HSA/FSA funds.
Qualifying members may receive reimbursement covering up to the entire cost of their BODi fitness solutions.
By not requiring an on-site doctor’s visit, the partnership saves time and money for those who qualify.
BODi subscribers can visit the Dr. B (hidrb.com) website, complete an online medical consultation, receive a Letter of Medical Necessity (if qualified), and submit the letter with BODi receipts to their HSA or FSA administrator for reimbursement.
Accessible by subscription or via a newly launched standalone option, the company says that BODi offers structured step-by-step home fitness and nutrition programs.
Dr. B's $15 online consultations are available to individuals 18 years and above in all 50 U.S. states and Washington, D.C. Providers review consultations 365 days a year – weekends and holidays included.
Price Action: BODI shares closed 2.11% lower at $9.30 on Wednesday.
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