Geared Up Issue 1 2017 | Page 5

The Personal Health Investment Today Act I n March, the Personal Health Investment Today (PHIT) Act (H.R. 1267) was introduced to Congress. If finalized, the bill would expand the tax- related definition of “medical expense” to include qualifying preventative fitness and wellness expenses, such as gym member- ships and personal trainers. The PHIT Act will allow Americans to use pre-tax medical accounts to pay for physical activity expenses, which currently are used primarily for reim- bursement of medical expenses once a person becomes sick. This incentive for adults and their children to get fit will help decrease health care costs related to preventable chronic diseases. The proposed legislation would allow up to $1,000 ($2,000 for joint filers) of pre-tax funds to be set aside in a health savings account (HSA) or similar types of flexible spending accounts, which could result in up to a 30 percent tax savings on qualifying fitness expenses. Lower costs • Inactivity is the fourth leading cause of death, ahead of being obese and overweight. • 28 percent of Americans are totally sedentary – that number is growing each year. • 2 of 3 children are not active to healthy standards. • 80 percent of children are at risk for disease due to physical inactivity. • This is the first generation that may not live as long as their parents. – Source: www.phitamerica.org representatives. This old-fashioned way is still effective. • Engage in the PHIT Act social media campaign to spread the word. • Network. Tell your friends to do the same. It is crucial that members of the fitness industry explain why and how this bill will help save money and lives. Your voice matters! G For more information on the PHIT Act, visit www.phitamerica.org. will promote active lifestyles and improve the health of Americans. Under the PHIT Act, activities eligible for pre-tax reimbursement include: • Youth and adult sports league fees • Health club membership dues • Exercise classes and personal trainers • Sports and fitness equipment (used exclusively for participation in physical activities) • Youth camps • Pay-to-play school sports fees • Organized running event registration fees • Martial arts, gymnastics and other physical activities The PHIT Act has bipartisan support in Congress, and momentum is positive for passage in 2017. This legislation aligns closely with franchisees’ goals to help others, and the Planet Fitness ® commu- nity can show its support by: • Emailing your member of Congress. Use the simple digital tool at http://www.phitamerica.org/Advocate/ ADVOCATE_PHIT.htm. This simple process uses your ZIP code to send a pre- written letter to senators and representa- tives from your district. Five minutes of your time is worth a healthier America! • Call your representatives. Let them know how important you feel the PHIT Act is to the future of the country. • Write a personal letter to your 3