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TrueMed’s payment integration platform unlocks HSA/FSA for health, not sickness

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12 months ago

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Medication might be easier than exercise or eating right, but TrueMed wants to change your thinking on that.

Calley Means and Justin Mares started the payment integration company last year to make it easy for consumers to pay for healthy food, exercise and supplements using their tax-free health savings accounts or flexible spending account dollars. And with regulatory compliance.

Typically, medical expense purchases like that are approved with a letter of medical necessity from your doctor upon collection of certain data. TrueMed’s secret sauce is that, thanks to telehealth laws that resulted from the global pandemic, it can collect that information and produce those notes seamlessly and asynchronously without the doctor’s visit. 

“Our long-term goal is to attack the notion that 95% of dollars are spent on interventions after people get sick,” Means told TechCrunch. “We’re going to go bankrupt from healthcare costs, and we’re becoming a non-competitive country because we’re getting so sick. We have to ask how you can actually use your healthcare dollars to incentivize metabolic habits: Food, exercise, the food movement, sleep and supplements, to stay healthy.” 

TrueMed launches today with $3 billion of gross merchandise volume already amassed from businesses, including CrossFit, Magic Mind and Kos.

Origin story

If both Means’ and Mares’ names look familiar it’s because they are both serial entrepreneurs. Means previously co-founded wedding dress company Anomalie with his wife, Leslie Voorhees, which sold to David’s Bridal last year. Meanwhile, Mares previously founded health food brands Kettle & Fire and Perfect Keto. 

Together they have raised $100 million for previous ventures. With TrueMed, they have raised $3.5 million in SAFEs (simple agreement for future equity) from investors, including functional medicine pioneer Mark Hyman and founders from Thrive Market, Eight Sleep and Levels. 

Before starting the company, Means said he and Mares met with representatives from the White House and Capitol Hill to validate the compliance. 

For Means, TrueMed is also a way to pay homage to his mother, who recently died of a preventable disease tied to food, and to his physician sister, Casey Means, co-founder of Levels, who specializes in metabolic health.  

“This is widening HSA/FSA to items it doesn’t usually cover, and we’ve done a huge amount of engagement,” Means said. “Our insight is opening it up to a wider range of health and wellness products through the telehealth integration.”

Unlocking the dollars

Means calls these types of savings accounts “a really powerful instrument” and estimates there is about $140 billion sitting in these accounts, mostly going unused. Earlier this year, the IRS increased the amount you can contribute to health savings accounts to $4,150 for an individual and $8,300 for a family.

So how do you unlock that? TrueMed’s business model is to partner with health and wellness brands. It is the only approved Shopify payment integration, according to Means. Once approved, TrueMed integrates with the merchant’s checkout systems. 

Consumers who choose to pay by that method will be asked a couple of health questions after inputting the HSA/FSA information. TrueMed then goes to a provider asynchronously who issues a letter of medical necessity, if appropriate.

“You’re basically doing a healthcare intake, similar to a credit intake, and are able to pay right into payment flow with your HSA/FSA funds,” Means said. “That’s the key that we’re doing. We’re adding a telehealth component into the payment flow for leading health and wellness brands and widening HSA/FSA to items it doesn’t usually cover.”

Up next, the company will continue adding merchants to its customer base as it works to steer money toward consumers adopting healthier habits. As the fourth quarter approaches, Means said some 80% of Americans qualify for a HSA or FSA and will be choosing their contributions.

He will be among them, telling TechCrunch that for the first time, his family maxed out their HSA and will be using it to purchase things to keep himself, Voorhees and their child healthy.

“We want people to start seeing their HSA and FSA accounts as tools to direct them to items for staying healthy,” Means said. “Our message is that food and exercise is medicine and can be prescribed.”



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SpaceX shows views of the first private spacewalk on Polaris Dawn mission

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15 mins ago

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September 14, 2024

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For the first time in history, a private citizen has left the confines of a spaceship while flying through space — an exercise that before now was only performed by trained astronauts. 

The unprecedented commercial spacewalk was part of SpaceX‘s Polaris Dawn mission, which sent four civilians into orbit to test the company’s new spacesuits. Tech magnate Jared Isaacman, who funded the spaceflight, was the first to conduct a spacewalk. 

“From here, it sure looks like a perfect world,” he said during a livestream on X, formerly called Twitter, that captured the whole event. 

SEE ALSO:

Yes, NASA astronauts will still pee in their new spacesuits
Jared Isaacman exiting Crew Dragon spacecraft

Polaris Dawn Commander Jared Isaacman exits the SpaceX Crew Dragon capsule during a spacewalk on Sept. 12, 2024.
Credit: SpaceX / X screenshot

Around 6 a.m. ET on Sept. 12, the crew depressurized the cabin and proceeded to open the capsule’s forward hatch. Isaacman then popped out of the hole into the vacuum of space like a prairie dog, about 450 miles above Earth. The bright blue marble backlit Isaacman as he clung to guardrails mounted outside the ship with one hand. His other arm was strangely posed as if it were inside a sock puppet.


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Despite having “walk” in the term, a spacewalk doesn’t necessarily involve walking, but merely the act of going outside a spacecraft in flight. At the International Space Station, astronauts routinely leave the orbiting lab, dangling on a tether, to perform maintenance tasks.

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Jared Isaacman emerging from hatch

Wearing a helmet camera, Polaris Dawn commander Jared Isaacman emerges from the SpaceX Crew Dragon capsule.
Credit: SpaceX / X screenshot

The five-day Polaris Dawn mission has so far accomplished its goals on the Crew Dragon capsule. The main purpose of the flight is to test the fit and mobility of the spacesuits.

The X post above was the livestream of the Polaris Dawn spacewalk on Sept. 12, 2024.

The crew is composed of regular people — that is, if you consider a billionaire, two SpaceX engineers, and a retired U.S. Air Force combat pilot to be “regular.” They include Isaacman, who founded the Shift4 credit card-processing company, pilot Scott “Kidd” Poteet, mission specialist Sarah Gillis, and medical officer Anna Menon.

Sarah Gillis spacewalking

Mission specialist Sarah Gillis performs a spacewalk to test the flexibility of her spacesuit on Sept. 12, 2024.
Credit: SpaceX / X screenshot

Menon actually beat her husband, new NASA astronaut Anil Menon, to space. Prior to his recruitment for astronaut training in 2021, Dr. Menon was SpaceX’s medical director. Anna Menon, however, did not leave her seat during the spacewalk, nor did Poteet. 

Following Isaacman, Gillis exited the spacecraft for a similar test, flexing her arms but never letting go of the bars outside the hatch for a free float. 

Sarah Gillis exiting the spacecraft

Mission specialist Sarah Gillis exits the SpaceX Crew Dragon capsule for a spacewalk on Sept. 12, 2024.
Credit: SpaceX / X screenshot

NASA administrator Bill Nelson congratulated SpaceX in a post on X, the social platform owned by SpaceX founder Elon Musk. 

“Today’s success represents a giant leap forward for the commercial space industry and @NASA’s long-term goal to build a vibrant U.S. space economy,” he said.





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‘Polaris Dawn Spacewalk Was Fake’: Conspiracy Theorists Crawl Out After Historic Day

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5 hours ago

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September 14, 2024

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Conspiracy theorists have crawled out again confidently claiming that the world’s first private spacewalk performed yesterday was ‘fake.’ Two members of SpaceX’s Polaris Dawn mission stepped out of the Dragon spacecraft on September 12, marking the first instance of astronauts getting exposed to space in a commercial mission.

But the historic event seems indigestible to some who are nitpicking about the aspects of the spacewalk.

“SpaceX Polaris Dawn Spacewalk… Sorry, but it just looks so fake, maybe it just me,” said a user on X posting images of the spacewalk.

The objective was to test the mobility of the spacesuits when they are pressurised. Mission commander Jared Isaacman and Sarah Gillis tested the suit for about ten minutes each before reentering the spacecraft.

“If you wanna start another stupid conspiracy you should watch the #SpaceEx space walk right now. It looks absolutely fake the way that person is moving. The 1969 footage looks more convincing,” wrote another user.

The focus point of the space deniers was the stiff movement of the astronauts when they floated out of the Dragon spacecraft. But this is what’s supposed to happen when the spacesuit is pressurised against the vacuum of space. The spacesuit itself becomes a spacecraft that protects the lives of astronauts.

ALSO SEE: SpaceX’s Polaris Dawn Astronauts Complete Historic First Private Spacewalk; Videos Released

As SpaceX CEO Elon Musk himself posted, “All that stands between you and the nothingness of deep space vacuum is that suit.”

Before astronauts step out for a spacewalk, their suits are pressurised like here on Earth to save them from going unconscious and keeping their body fluids from getting boiled. But if the spacesuits save their lives, they also limit mobility – which SpaceX wanted to see how much.

But many believe the spacewalk was fake based on the visuals. “I’m not a space denier but ngl that Dragon spacewalk looked fake af #polarisdawn (sic),” a person posted on X.

Some even brought up the Moon landings in the Apollo missions which, according to space deniers, never happened.

“Polaris Dawn & Dragon some supposed 1,400km out above Earth. This is the furthest since the fake NASA Apollo Missions over 50 years ago now,” posted a user with a video of Dragon spacecraft in the highest Earth orbit after 1972. Another shared a video of the Polaris Dawn crew inside the Dragon spacecraft saying, “If you believe they are in space, you are 100% retarded.”

Unfortunately, this might not be the end of it but we believers hope that the historic spacewalk was the first of many.

Polaris Dawn is a five-day mission which launched on September 10 with four astronauts. Piloted by Scott Poteet, the Dragon spacecraft took two women – Gillis and Anna Menon – farthest in space. It is also the highest Earth-orbit mission ever.

ALSO SEE: SpaceX Shares First Views Of Earth As Polaris Dawn Reaches Highest Orbit In 50 Years

(Image: SpaceX)





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NASA Postpones Mars Mission To 2025 As Jeff Bezos’s Rocket Isn’t Ready To Launch

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10 hours ago

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September 14, 2024

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NASA is no longer launching the ESCAPADE mission to Mars this year. The agency announced that it is letting go of the launch opportunity in October as Blue Origin’s New Glenn rocket might not be ready to take off in its inaugural flight.

The Escape and Plasma Acceleration and Dynamics Explorers or ESCAPADE is a twin-spacecraft mission to explore the Martian atmosphere and magnetosphere. With October is not an option anymore, the next opportunity is Spring 2025.

In a statement, NASA said that the decision was made to avoid challenges and cost associated with draining fuel from the two orbiters in case the mission was delayed in October. The probes will be fuelled with hydrazine and nitrogen tetroxide to be used during the course of their mission.

The launch window to Mars, which significantly reduces the travel time to the red planet, opens this fall. While NASA announced it is targeting Spring of next year for ESCAPADE’s launch, the next such window does not open for another two years.

“This is an important mission for NASA, and it’s critical we have sufficient margin in our prelaunch work to ensure we are ready to fly a tight planetary window,” said Bradley Smith, NASA’s Launch Services Office director, in a statement.

ALSO SEE: NASA’s Dual-Orbiter Mars Mission Almost Ready For October Launch; All About It

Blue Origin acknowledged the delay saying, “We’re supportive of NASA’s decision to target the ESCAPADE mission for no earlier than spring 2025 and look forward to the flight.”

The Jeff Bezos-owned company is preparing the reusable New Glenn rocket for its debut mission. Named after John Glenn, the first American in space, the launch vehicle stands 320 feet tall and can carry 13 metric tons to geostationary transfer orbit and 45 metric tons to low Earth orbit. According to Blue Origin, it is aiming to reuse the first stage of the rocket 25 times.

Meanwhile, Blue Origin is now preparing to launch the Blue Ring technology. The mission has been moved up from December this year to November after ESCAPADE’s delay.

ALSO SEE: Liquid Water Discovered On Mars? NASA Lander Unveils Explosive Evidence

(Image: NASA/BlueOrigin)





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