WASHINGTON-U.S. Senators Chris Murphy (D-Conn.) and John Thune (R-S.D.) this week reintroduced the Personal Health Investment Today (PHIT) Act, legislation that would encourage more physical activity in the United States and incentivize healthier living by allowing Americans to use a portion of the money saved in their pre-tax health...
What is the PHIT Act?
A Way to Reduce Your Physical Activity Expenses!
The Personal Health Investment Today (PHIT) Act will allow consumers to pay for physical activity expenses (from youth sports fess to gym memberships to sports equipment) using funds in pre-tax medical accounts (Health Savings Accounts and Flexible Savings Accounts).
Good health requires a commitment of time and money. Prevention and wellness are key to the future of our healthcare system but cost is a barrier to active lifestyles that did not exist in previous generations. The PHIT Act will lower consumers' cost and increase physical activity in America.
At a time when the parties do not agree on healthcare or taxes, the PHIT Act is an outlier with strong support from both republicans & democrats for this Active Lifestyle incentive.
Summary: The PHIT Act allows individuals & families to use funds in pre-tax medical accounts to lower cost of sports, fitness and other qualified physical activities & equipment
The PHIT Act Covers
- Youth & Adult Sports League Fees
- School Pay-to-Play Sports Fees
- Gym & Health Club Membership Dues
- Exercise & Yoga Classes
- Personal Trainers
- Bike Rentals
- Sports & Fitness Equipment
- Sport-Exclusive Footwear
- Tournament & Race Registration Fees
- Youth Camps
- Fitness Tracking Devices
- & Much More!
The PHIT Act would make any expense exclusively intended for the sole purpose of being physically active eligible for FSA/HSA reimbursement
Consumers will see a 20-37% discount on sports related expenses
Listen to our friend Diane Hart, the President and Executive Director of the National Association for Health and Fitness, discuss the benefits of PHIT
FOR IMMEDIATE RELEASE
It's not just adults that have been spending more time at home over the past couple of months, with school and sports facilities closed, children have also been confined to their homes a lot more than usual.