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IHRSA Applauds the PHIT Act to Improve Americans’ Health & Fitness
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IHRSA Applauds the PHIT Act to Improve Americans’ Health & Fitness

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IHRSA applauds the legislation, which provides Americans incentives to invest in exercise and fitness

The International Health, Racquet & Sportsclub Association (IHRSA) has recently lauded the introduction of the Personal Health Investment Today (PHIT) Act. The PHIT Act is a bill that aims to improve the health and fitness of Americans by allowing flexible spending and health savings accounts to be used for physical activity products and services, as well as youth sports. IHRSA, a not-for-profit trade association representing over 200,000 health and fitness facilities and their suppliers, has noted that the legislation would incentivize healthy behavior, provide financial support for physical activities, and enable people of all ages to engage in more active lifestyles.

The PHIT Act is a bipartisan bill co-led by Representatives Kelly, Panetta, Fitzpatrick, Sewell, LaHood, and Boyle, and Senators Murphy, Thune, Cramer, Tillis, Marshall, Capito, Wicker, Tim Scott, Baldwin, Sinema, and King. It is designed to ensure that health and fitness products and services receive the same tax treatment as other items that are deemed necessary for maintaining good health. This will allow eligible users to designate up to $3,050 pre-tax to an employer-managed account to purchase nonprescription items, glasses, sunblock, bandages, over-the-counter products, and a range of products and services to improve their health.

According to IHRSA, approximately 30 million Americans use flex accounts, and half of all users forfeit a combined $400-500 million each year, funds that revert to employers if not used in full within the required time constraint. The PHIT Act aims to address this by allowing people to use their flex accounts for physical activity products and services, and youth sports. The bill is expected to encourage more people to engage in physical activities, reduce healthcare costs, and improve overall health outcomes.

“The PHIT Act is good policy in Washington, D.C., because it brings equity to the tax treatment of products and services that directly benefit the physical and mental health of consumers. And it is good policy in every community because it does as the flex and health programs were originally intended: expands the number of people encouraged and supports behavior that improves health and fitness,” said IHRSA President & CEO Liz Clark.

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IHRSA has long advocated for policies that promote physical activity and healthy lifestyles. The organization has noted that better fitness improves individual health, community health, and helps provide vital mental and physical health for all Americans. The fitness industry serves over 70 million consumers who regularly visit clubs, studios, classes, community programs, and other group and structured exercise programs. IHRSA’s endorsement of the PHIT Act is a significant step forward in promoting physical activity and healthy lifestyles in the United States. By allowing flexible spending and health savings accounts to be used for physical activity products and services, the bill will incentivize healthy behavior and enable people of all ages to engage in more active lifestyles.

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