On Friday, September 15th, I had the opportunity to chat with Jeff Perkins, Assistant Vice President of Government Relations for IHRSA (International Health, Racquet and Sportsclub Association) regarding the PHIT (Personal Health Investment Today) Act.
The PHIT Act promotes physical activity and creates incentives for healthy living from children all the way up through seniors. PHIT will allow Americans to use flexible spending accounts (FSAs) and health savings accounts (HSAs) to pay for health club memberships, fitness equipment and youth sports leagues. If passed, individuals could use up to $1,000 and families could use up to $2,000 per year of their HSA or FSA for physical activity expenses making recreation sports and health club memberships more affordable. More affordable exercise equals more physically active, happier, and healthier Americans. The goal of PHIT is to get Americans off the couch and to encourage them to get active.
The Case for PHIT:
- 80 million Americans (28%) aged 6+ are physically inactive
- Only 1 in 3 children are physically active each day
- Less than 5% of adults participate in 30 minutes of physical activity each day
The Cost of Physical Inactivity:
- 86% of national healthcare spending goes to treat chronic diseases, many of which are preventable with exercise and healthy habits.
- Chronic diseases are projected to cost America $2 trillion in medical expenses and another $794 billion in lost employee productivity every year through 2030.