The Personal Health Investment Today Act (PHIT) has passed the House. It must now pass the Senate to become law. This bill will allow Americans to use flexible spending accounts (FSAs) and health savings accounts (HSAs) to pay for health club memberships, fitness equipment, exercise videos, and youth sports leagues. Currently, the IRS code only allows these accounts to be used for medical expenses like prescription medications and doctor visits. If passed, it will allow individuals to use up to $1,000 per year to cover these expenses and families to use up to $2,000 per year.
PHIT will help Americans save 20-30% on yearly expenses related to physical activity.
PHIT will make being physically active an easier financial choice for hard-working Americans.
PHIT passed the House with bipartisan support, but needs your help to pass the Senate. Ask your Senators to #PassPHIT.