The PHIT Act
An Incentive To Be Fit & Healthy While Reducing Healthcare Costs
We need to build more prevention into our healthcare system. What we have today is “sickcare” rather than “healthcare”. The PHIT Act, Personal Health Investment Today Act, will help prevent illness and costs associated with the obesity and sedentary crisis. The PHIT Act will give Americans incentives to increase physical activity, fitness and improve their health.
The PHIT Act is legislation pending in Congress which will allow Americans to use Pre-Tax Medical Accounts to pay for physical activity expenses. The PHIT Act would encourage healthier lifestyles by reducing the costs of physical activity. Adults and their kids will receive an incentive to help Americans get fit which will help prevent healthcare costs related to the obesity and sedentary crisis.
Currently, Pre-Tax medical accounts are primarily used for reimbursement of medical expenses once you become sick. PHIT would allow taxpayers to place up to $2,000 a year in existing Pre-Tax medical accounts for reimbursement of physical activity expenses. Lower costs will promote active lifestyles and improve the health of Americans.
The PHIT Act will put prevention in our healthcare system. What we have today is basically "sickcare". PHIT will help promote "wellness care" or true healthcare.
Click on Advocate to contact your Members of Congress today to show your support.
The activities eligible for Pre-Tax reimbursement under the PHIT Act include:
No. The total amount does not change. The only thing that changes is what's covered by Pre-Tax accounts.
Currently Pre-Tax medical accounts are primarily used for reimbursement of medical expenses once you become sick. PHIT would allow taxpayers to place up to $2,000 a year in existing Pre-Tax medical accounts for reimbursement of physical activity expenses. Lower costs will promote active lifestyles and improve the health of Americans.
The PHIT Act will put prevention in our healthcare system.
Many companies offer Pre-Tax Medical Accounts to their employees. A Pre-Tax Medical Account allows you to set aside part of your salary each pay period on a pre-tax basis to pay for the out-of-pocket medical, dental, and vision care expenses not covered by your health benefits plan.
During the plan year, when you pay for eligible expenses, you will be reimbursed for them with the tax-free money you have set aside in your Pre-Tax Medical Account.
In March of 2015, Representatives Charles Boustany (R-LA) and Ron Kind (D-WI) officially introduced the Personal Health Investment Today (PHIT) Act in the U.S. House of Representatives - HR 1218.
We are confident the PHIT Act will receive bipartisan support like it did in 2014, where 26 Democrats and 24 Republicans Co-Sponsored the PHIT Act. In today's political environment, it is extremely unique to get this type of support. Momentum is extremely positive for passage of the PHIT Act. It is one of the few pieces of legislation which will allow Americans to use their money as a incentive to promote healthy, active lifestyles while preventing and reducing health care costs.
Encourage your Members of Congress to Co-Sponsor and pass the PHIT Act.
The PHIT Act is new legislation and needs the support of you and your US Members of Congress. Here are four ways you can help:
There is another way you can help. Make a donation to PHIT America. Your support will help create A Movement for a Fit & Healthy America.
Healthcare spending continues to rise at an alarming rate. Medical expenditures account for 17% of the money generated by the U.S. economy. By 2015 the U.S. will spend $1 of every $5 ($4 trillion) on medical expenses.
A top priority of healthcare reform is to reduce spending. The World Health Organization reported that in the U.S. an investment of $1 in physical activity leads to $3.20 in medical costs savings. Let's prevent healthcare costs by having a more fit and healthy America.