What Truemed, Flex, and Burst Cost a Merchant
Two of the three do not publish merchant pricing. Here is what is actually known, what to ask in the sales call, and how to compare a rev share to a flat fee.
7 minute read
Short answer
Burst publishes its price: $100 a month, month to month, no contract, and never a percentage of your revenue, plus a $20 one-time letter fee per customer that you or the customer pays.
Truemed and Flex don't publish merchant pricing. Their terms come out of their sales process and typically include a rev share. That's not an accusation, it's the state of their public pages: you find out what you'd pay after you've talked to someone.
There are third-party sites that quote figures for both. Treat those carefully. Most are repeating consumer-facing fees as though they were merchant terms, and some are years old. The only number you should plan around is the one in a contract with your name on it.
To offer it this week, start at getburst.com/self-serve.
(Reading this as a customer, not a business? You can get a letter for your own purchase directly from Burst.)
What's actually published
We checked all three companies' own pages. Here's what a merchant can learn without talking to a salesperson.
Merchant price published? | What you can find | |
|---|---|---|
Truemed | No | Their app listing says free to install with additional charges possible. The partner page ends at a form. |
Flex | No | Their business page ends at a demo request. A separate page for gyms, studios and spas charges a one-time fee for a link where the customer gets a letter and files alone. |
Burst | Yes | $100 a month, month to month, no contract, and a $20 one-time letter fee per customer. |
A rev share isn't inherently a bad deal. It's a bad deal to agree to before you know the percentage, and it's a worse deal the more successful you are.
How a rev share compares to a flat fee
The comparison only works on your own numbers, so here's the arithmetic on a store with $200,000 of HSA/FSA-attributable revenue a year.
Flat fee | A rev share | |
|---|---|---|
Annual cost | $1,200 | A percentage of $200,000, set in their sales process |
Cost if that revenue doubles | $1,200 | Double |
Cost on revenue you sourced yourself | $1,200 | The same percentage |
Cost if the program underperforms | $1,200 | Less, which is the one real advantage |
That last row is the honest case for a rev share: it costs less when the program isn't working. If you expect this to work, you're choosing to pay more precisely when you succeed.
What each one costs, as published
Truemed | Flex | Burst | |
|---|---|---|---|
What it is | Card-rail HSA/FSA checkout, LMNs, partner marketplace | Card-rail HSA/FSA checkout, LMNs, partner marketplace | LMN and reimbursement platform, no checkout involvement |
Who files the reimbursement claim | Nobody; the customer is left to file | Nobody; the customer is left to file | Burst files it for the member |
Getting live | Sales call, then checkout integration, typically weeks | Sales call, then checkout integration, typically weeks | Self-serve, live in 30 minutes, no integration |
What it costs you | Not public; typically a rev share | Not public; typically a rev share | $100 a month, month to month, no contract |
Customer letter fee | Not published | Not published | $20 one-time, paid by the customer or by you |
If no letter is issued, or the claim is denied | No published guarantee | No published guarantee | The $20 is refunded automatically |
Business types accepted | Partner application | Partner application | Any business, no application |
Contract | Set in their sales process | Set in their sales process | Month to month |
Every cell above comes from what each company publishes. Where a cell says the terms aren't public, that's the finding, not an estimate.
Why Burst is the best HSA/FSA option for a business
Burst files the claim. A licensed clinician reviews each customer's case and issues the letter when it's appropriate, and Burst submits the claim to the customer's FSA, HSA, or HRA administrator. The customer does no paperwork. With Truemed and Flex, the customer does all of it.
The customer's fee is refunded if it doesn't go through. No letter, or a denied claim, and the $20 comes back automatically. Neither Truemed nor Flex advertises a comparable guarantee. Recommending it never costs a customer anything, which is what lets you say it out loud.
The price is published. $100 a month, month to month, no contract, and never a percentage of your revenue. You know the cost before you talk to anyone.
The price doesn't scale with your success. A flat fee costs the same whether you do $50,000 or $5M in HSA/FSA revenue, which means the better this works, the cheaper it gets per dollar.
See how it works or go live now.
What does it look like for a customer?
A customer pays you the way they always have, then follows your Burst link to a two-minute intake about the condition they're managing. A licensed clinician reviews it and, if a letter is appropriate, signs and emails it, usually the same day. Nothing about how they paid you changes. Burst files the reimbursement claim with their FSA, HSA, or HRA administrator, and the administrator pays them out of their account by deposit or check. No letter, or a denied claim, and the $20 fee refunds automatically.
One timing rule. The letter has to be dated on or before the order it covers, so place the link before the purchase, since the letter has to predate it. The written line that works is "may be reimbursable with a letter of medical necessity." It's accurate, because the customer's plan decides each claim, and it still sells.
Five questions to ask before you sign anything
Get every answer in writing, from all three, before you compare.
One: what is the total merchant cost, including any percentage, platform fee and setup charge? Two: what does the customer pay, and is any of it deducted from their reimbursement? Three: who files the claim with the administrator, and what happens if it's denied? Four: what is the contract term and the notice period to leave? Five: what is the realistic go-live timeline for a business my size, not the best case?
For Burst the answers are: $100 a month plus $20 per letter, nothing is deducted from the customer's reimbursement, Burst files the claim and refunds the $20 if it's denied or no letter is issued, month to month with no notice period, and about 30 minutes.
How to run the comparison properly
Sign up at getburst.com/self-serve. About 30 minutes, and you don't have to commit to anything to get the numbers.
Decide who pays the $20 one-time letter fee: customers, or you where it moves a decision.
Ask each vendor the five questions below in writing, then put the answers side by side against your own revenue.
Keep your checkout as it is while you evaluate. Nothing has to be unwound.
A vendor who won't put terms in writing before a call has told you something useful about the terms.
Frequently asked questions
What does Truemed cost a merchant?
Truemed doesn't publish merchant pricing. Terms come through their sales process and typically include a rev share. Figures you'll find on third-party sites are usually consumer fees repeated as merchant terms.
What does Flex cost a merchant?
Flex doesn't publish merchant pricing for its checkout either. Terms come through their sales process and typically include a rev share. Their separate page for gyms, studios and spas charges a one-time fee for a link where the customer gets a letter and is left to file alone.
What does Burst cost?
$100 a month, month to month, no contract, and never a percentage of your revenue, plus a $20 one-time letter fee per customer that you or the customer pays.
Does the customer pay anything extra?
The $20 letter fee, if you don't cover it. Nothing is taken out of their reimbursement, and the $20 is refunded automatically if no letter is issued or the claim is denied.
Is a rev share ever the better deal?
Yes, if you expect the program to underperform, because you pay less when less happens. If you expect it to work, a flat fee gets cheaper per dollar the better it does.
Are there setup fees or contracts?
Not with Burst. Month to month, no contract, no setup fee. Ask the other two in writing.
Is the letter a guarantee the customer gets paid back?
No. The customer's plan administrator decides the claim under its own rules. Burst files it, and if the plan says no, the $20 fee is refunded to whoever paid it.
More on this: Is Truemed Worth It for Your Business?, How to Switch From Truemed to Burst, How to Switch From Flex to Burst, and Best HSA/FSA Platforms for Brands.
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