What is an HSA or FSA Payment?
Health Savings Account (HSA)
Flexible Spending Account (FSA)
How do you make an HSA or FSA payment?
Can any Stripe account accept HSA or FSA payments?
No. HSA/FSA-type cards are heavily regulated and can only be used by businesses that offer medical programs and healthcare providers.
For a quick overview of what types of purchases are covered, you may visit this link: https://www.irs.gov/pub/irs-pdf/p502.pdf
HSA and FSA cards require that your business have a special classification, called a Merchant Category Code (MCC) of 8099. This is set in their individual Stripe account. Setting this indicates to card companies that your products and services are directly related to a patient’s medical needs.
Enabling an account to accept HSA or FSA payments does not guarantee that a card will not be declined. Card issuers are still at liberty to authorize or decline any payment as they would with any other type of credit card.
Can I request that my studio accept HSA/FSA payments?
Your studio must provide documentation that indicates that you fall under a medically licensed facility. This could include proving you have a licensed doctor or physical therapist on staff. It may also include the licensing of your business itself. For more information on this process, please reach out to our Support Team.