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NWO Golf Links
WHAT IS THE PHIT ACT? IT’S H.R. 1218
The PHIT Act (Personal Health Investment Today) is pending
legislation that expands the IRS definition of a medical
expense to include physical activity as a form of prevention.
The practical impact of this definitional change would allow
taxpayers/consumers to use their pre-tax medical accounts
(HSAs & FSAs) on physical activity expenses to promote healthy
lifestyles. The PHIT Act is an innovative concept that fits with
two major Congressional concerns: (1) rising health care costs
(2) the budget deficit. The rise in sedentary lifestyles is a major
contributor to higher obesity rates and an increased incidence
of expensive, preventable chronic illnesses. The PHIT Act will
help reverse the ‘inactivity pandemic’/obesity crisis by providing
an economic incentive to invest in physical activity. If enacted,
physical activity expenses could be reimbursed using money in
pre-tax medical accounts.
HOWWOULD THE PHIT ACT WORK?
Currently, pre-tax medical accounts are primarily used for
reimbursement of medical expenses once you become sick.
The PHIT Act would allow taxpayers to place up to $2,000 a
year in existing pre-tax medical accounts for reimbursement of
physical activity expenses. By attaching a financial incentive to
a physically active lifestyle, it will result in improving the health
of Americans. The PHIT Act will put prevention in our health
care system and increase spending in the golf industry.
“The PHIT Act would allow funds to be applied to most golf
expenses, such as equipment purchases (clubs, bags, and
golf balls), tournament entry fees, greens fees, clinics, driving
range fees, golf shoes, and private instruction,
” says Jim Baugh,
founder, PHIT America, the non-profit cause working to get the
PHIT Act passed.
Golf is a lifelong
physical activity
that canmake
a difference
in the health
of Americans.
The PHIT Act
will encourage
increased
participation in
the sport.
MIKE MAY