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- The Personal Health Investment Today (PHIT) Act - H.R.1679 and S.680 is bipartisan legislation that would allow Americans to use flexible spending accounts (FSAs) and health savings accounts (HSAs) to pay for fitness equipment, exercise videos, participation fees associated with youth sports leagues, and health club memberships. Currently, the IRS code allows these accounts to be used for traditional medical expenses like prescription medications and doctor visits. If passed, PHIT will allow individuals to use up to $1,000 per year to cover exercise-related costs and families to use up to $2,000 per year. Consumers will be able to save 20 to 30% on fitness expenses through the use of pre-tax accounts. PHIT supporters say the aim is to make the healthy choice the easiest choice for families and individuals. The bill amends the IRS definition of a medical expense to include exercise-based preventative expenses. Decades of research prove that leading a physically active lifestyle is integral to good health. Physical inactivity and obesity are associated with several types of cancer, diabetes, Alzheimer's, and a host of other ailments that are detrimental to our health, pocketbooks, and economy. (en)
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