Our partners at PHIT America.org have received some great news. The PHIT Act, which will make physical activity more affordable for all Americans, has been introduced to the United States Senate by four Senators, (two Republican and two Democrat) clearing another hurdle on its way to change the IRS definition of a “medical expense” to include physical activity as a form of prevention. Expanding the medical expense definition would make physical activity expenses reimbursable using pre-tax dollars in Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs)….and would allow consumers to deduct physical activity costs once they meet the 10 percent of income threshold on medical expenses. Imagine being able to deduct your son or daughter’s youth league registration fees, or your health club membership! Contact your congressional representatives and ask for their support!
Posted on November 3, 2015 by coachdeck