BODi and Telehealth Provider Dr. B Partner to Enable Pre-Tax Reimbursement for BODi Fitness Solutions in all 50 States
May 01 2024 - 4:30PM
Business Wire
BODi and Dr. B to Help Qualifying Patients Save
Time and Money on Fitness Solutions by Utilizing Pre-Tax Health
Savings Account (HSA) or Flex Savings Account (FSA) Funds
The Beachbody Company, Inc. (NYSE: BODI) (“BODi”), a leading
health and fitness company, announced today a strategic partnership
with Dr. B, a leading telehealth provider that offers $15 online
consultations for common conditions in all 50 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 powerful platform of health and fitness solutions.
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the full release here:
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BODi and Telehealth Provider Dr. B
Partner to Enable Pre-Tax Reimbursement for BODi Fitness Solutions
in all 50 States (Graphic: Business Wire)
According to the CDC, in the US, the percentage of adults using
telemedicine services in 2021 was 37%, with slightly more females
(42%) using telemedicine than males (31.7%). Statista reports that
as of 2021, 88% of Americans preferred to use telemedicine after
COVID-19.
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 visit to a doctor, 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 in just minutes, receive a Letter of Medical Necessity
(if qualified), and submit the letter with BODi receipts to their
HSA or FSA administrator for reimbursement.
“For over 25 years our mission at BODi has been to help people
lead healthy and fulfilling lives,” says Carl Daikeler, BODi’s
Co-Founder and Chief Executive Officer. “The barrier of time and
money is real for many who would benefit from the tools on the BODi
platform. We believe our partnership with Dr. B will remove these
barriers that prevent many from getting started and this unique
combination of financial and fitness solutions will help even more
people improve their lives and build healthy habits.”
“Current trends indicate that the future of fitness lies in
companies that double down on programs that encourage whole-body
health and longevity,” says Cyrus Massoumi, founder and CEO of Dr.
B. “That’s why we’re thrilled to partner with BODi. They offer our
patients integrated fitness, nutrition and mindset programs to help
them succeed through every step along their journey. The more Dr. B
can help individuals invest in BODi’s health esteem mindset, the
better for all of us.”
BODi offers a broad range of innovative and effective fitness,
nutrition and mindset programs developed and tested by world-class
scientists, trainers and nutrition experts. Accessible by
subscription or via a newly launched standalone option, BODi offers
a holistic solution to achieve healthy results.
Dr. B’s $15 online consultations are available to those 18 and
older in all 50 U.S. states and Washington, D.C. Providers review
consultations 365 days a year – weekends and holidays included.
About BODi and The Beachbody Company, Inc.
Originally known as Beachbody, BODi has been innovating
structured step-by-step home fitness and nutrition programs for 25
years such as P90X, Insanity, and 21-Day Fix, plus the first
premium superfood nutrition supplement, Shakeology. Since its
inception in 1999 BODi has helped over 30 million customers pursue
extraordinary life-changing results. The BODi community represents
millions of people helping each other stay accountable to goals of
healthy weight loss, improved strength and energy, and resilient
mental and physical well-being. For more information, please visit
TheBeachbodyCompany.com.
Ticker Symbol Changed to BODI
On March 4, 2024, the Company transitioned its stock ticker from
"BODY" to "BODI" on the NYSE, in line with its rebrand from
Beachbody to BODi. There were no changes made to the CUSIP or the
stock's listing status on the NYSE.
About Dr. B
Dr. B’s mission is to expand access to a long and healthy life.
As the only telehealth service that makes treatments affordable for
anyone, Dr. B provides the most convenient way to get treatment
online—including prescriptions—without leaving home. Dr. B was
founded by Cyrus Massoumi, the founder of Zocdoc. It is a Public
Benefit Corporation and certified B Corporation based in New York
City. To learn more, visit hidrb.com.
Forward Looking Statements
This press release contains “forward-looking” statements
pursuant to the safe harbor provisions of the Securities Litigation
Reform Act of 1995, which are statements other than historical fact
or in the future tense. These statements include but are not
limited to, statements regarding our business strategy, our plans,
and our objectives and future operations. Forward-looking
statements are based upon various estimates and assumptions, as
well as information known to us as of the date hereof and are
subject to risks and uncertainties. Accordingly, actual results
could differ materially due to a variety of factors. You can
identify these statements by the use of terminology such as
“believe”, “plans”, “expect”, “will”, “should,” “could”,
“estimate”, “anticipate,” “upon” or similar forward-looking terms.
You should not rely on these forward-looking statements as they
involve risks and uncertainties that may cause actual results to
vary materially from the forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20240501349885/en/
Investor Relations IR@BODi.com
Media Relations BODiPR@icrinc.com
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