GET INVOLVED! - The PHIT Act Explained
February 15, 2020
SFIA’s National Health Through Fitness Day Set for March 10–11
Imagine the benefit to the health and fitness club business if Americans were able to pay their gym memberships, buy their equipment and pay their personal trainers with pre-tax dollars!
After years of effort on Capitol Hill, this possibility is coming closer to realization in the form of the much-anticipated PHIT Act making its way slowly but surely through the halls of Congress.
The Personal Health Investment Today (PHIT) Act would allow consumers to pay for physical activity expenses (from gym fees to sports equipment) using funds in pre-tax medical accounts (Health Savings Accounts and Flexible Savings Accounts). Consumers would see a 20-37 percent discount on sports-related expenses.
The PHIT Act would make any expense exclusively intended for the sole purpose of being physically active eligible for FSA/HSA reimbursement. Among the fees it would cover Gym and Health Club Membership Dues, Exercise and Yoga Classes, Personal Trainers, Sports League Fees, School Pay-to-Play Sports Fees, Bike Rentals, Sports and Fitness Equipment, Sport-Exclusive Footwear, Tournament and Race Fees, Youth Camps and Fitness Tracking Devices.
Fitness industry members can help move the PHIT Act along by participating in the annual Sports & Fitness Industry Association’s (SFIA) National Health Through Fitness Day, which every year brings together industry leaders, celebrity athletes, the American College of Sports Medicine, PHIT Coalition partners, PE teachers and other physical activity advocates to meet with Congress to push for physical activity policies, including the PHIT Act, to promote sports health and fitness in America.
This year’s event is set for March 10–11 right on Capitol Hill in Washington, DC.
Industry professionals looking to get more involved with National Health Through Fitness Day and passing the PHIT Act should contact Bill Sells at SFIA — email@example.com. To register: www.passphit.org/nhtfd-2020/