SILVER SPRING, Md. – The Sports and Fitness Industry Association (SFIA) has applauded the reintroduction of the proposed Personal Health Investment Today (PHIT) Act in Congress by Senators Chris Murphy (D-CT) and John Thune (R-SD).
If passed The PHIT Act will allow pre-tax flexible spending and health savings accounts to cover the costs of activity-related expenses, such as youth sports fees, health club dues, training costs, and purchase of sports and fitness equipment. In 2020, almost 4,000 organizations, businesses, and medical groups sent letters to Congress requesting passage of the PHIT Act.
“The pandemic highlighted a critical issue: inactive individuals were at higher risk of severe COVID outcomes,” said SFIA CEO and president Tom Cove. “We also know that recessions typically drive down sports and physical activity participation rates. Making PHIT law will make a huge difference to encourage and assist families and individuals to be active at this most critical time. SFIA applauds Senators Murphy and Thune for their leadership in helping Americans live more active and healthy lives.”
According to a SFIA media release, “The PHIT Act would allow a preventative approach to costly chronic conditions like obesity, diabetes, heart disease, depression, and respiratory illness, rather than paying more to treat them over a lifetime.”