Proposed PHIT Act Legislation Aims to Allow Pre-Tax Dollars for Fitness
The PHIT Act calls for pre-tax medical accounts to be used for health and wellness activities, not just hospital visits.
A tax bill making its way through Congress is aiming to shape the way the American public utilizes health savings accounts to focus on prevention, not just treatment.
The Personal Health Investment Today (PHIT) Act, first introduced to the house in March 2015 and more recently to the Senate in November 2015, is a bi-partisan supported proposal that would allow medical account tax deductions to be applied to some specified costs associated with staying active.
