Active Adults
What is PHIT & Why It Matters to Active Adults
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 such as:
- Adult Sports League Fees
- Gym Memberships
- Health Club Memberships
- Personal Trainers
- Bike Rentals
- Sports & Fitness Equipment
- Sport-Exclusive Footwear
- Tournament & Race Registration Fees
- Fitness Camps
- Fitness Tracking Devices
- & Much More
The Facts
Use these statistics to help support PHIT
Financial Relief
What?
- PHIT helps take some of the financial burden off active adults & parents, by allowing you to save money on expenses for the exclusive purpose of participating in physical activity
How?
- PHIT would enable individuals to use up to $1,000 per year - up to $2,000 for families - to cover physical activity-related expenses
- Money will be placed in pre-tax accounts such as HSAs, FSAs & HRAs to help you save
- Consumers(you) will save 20-37%
Prevention & Health
PHIT allows Americans to use pre-tax health account dollars to prevent disease, not just treat it.
- Inactivity can lead to higher health costs and chronic diseases
More than 4 in 10 adults are obese, and more than 1 in 8 has type 2 diabetes. Physical activity is a cost-effective way to prevent and reduce chronic diseases like heart disease, stroke, and type-2 diabetes, which account for approximately 86% of nationwide healthcare costs. - Centers for Disease Control & Prevention (CDC)
Studies show that those who exercise report 43.2% fewer self-reported mental health burdens per month than non-exercisers; something that is so important during the pandemic
- National Institutes of Health (NIH)
It's time for Congress to pass PHIT and help take some of the financial burden off parents and active adults so they can patriciate in sports and stay active & healthy!
