According to PHITAmerica.org, the PHIT Act, which stands for Personal Health Investment Today, is proposed federal legislation that would allow Americans to use pre-tax accounts like Health Savings Accounts (HSA) and Flexible Savings Accounts (FSA) to pay for qualified fitness expenses including memberships, classes and personal training appointments.
The PHIT Act will provide an incentive for you and your children to get fit which will help prevent healthcare costs related to preventable chronic diseases. PHIT would allow you to put up to $2,000 a year into an account and help you save on yearly expenses related to physical activity!
PHITAmerica.org states, “the PHIT Act will put prevention in our healthcare system. What we have today is basically "sick care". PHIT will help promote "wellness care" or true healthcare.”
If you would like to find out more about the PHIT Act and how its benefits, visit this website.