Fit with PHIT | How The Fitness Industry Can Prevent Chronic Diseases
Krissy Vann | Host, All Things Fitness and Wellness
Staying active is crucial to maintaining good health, both physically and mentally. Unfortunately, the cost of fitness equipment, gym memberships, and other physical activities can be a significant barrier for many American and Canadian families and individuals. However, efforts are underway in the fitness industry to make fitness more accessible and affordable for everyone. In this blog post, we'll discuss two initiatives aimed at helping Americans and Canadians save on physical activity.
The PHIT Act: Federal Legislation Incentivizing Physical Activity
The Personal Health Investment Today (PHIT) Act is a federal legislation that incentivizes physical activity by allowing Americans to use pre-tax dollars (flexible spending accounts and health savings accounts) to pay for gym memberships, fitness equipment, exercise videos, and youth sports leagues. The PHIT Act aims to make physical activity more accessible and affordable for everyone, especially those who might otherwise be unable to afford gym memberships or other fitness activities.
Mike Goscinski, VP of Government Affairs at IHRSA (International Health, Racquet & Sportsclub Association), joins the podcast to explain the PHIT Act and what health club owners and operators can do to support it. He also shares how fitness enthusiasts can lend their voice to the cause. By supporting the PHIT Act, we can help make physical activity more affordable and accessible for everyone, regardless of their income level.
Revising Tax Line 33099 in Canada
In Canada, The Fitness Industry Council of Canada is advocating for the revision of tax line 33099 to make fitness memberships eligible as a medical tax deduction. This initiative aims to make fitness more affordable for Canadians by allowing them to claim the cost of fitness memberships as a medical expense on their tax returns. This change could significantly reduce the cost of fitness for many Canadians, making it more accessible and affordable for everyone.
Sara Hodson, President of The Fitness Industry Council of Canada, joins the podcast to explain the importance of a unified voice to get the revision in the budget. By supporting this initiative and advocating for the revision of tax line 33099, Canadians can help make fitness more affordable and accessible for everyone.
Final Thoughts
Staying active is crucial to maintaining good health, and initiatives like the PHIT Act and the revision of tax line 33099 can help make fitness more affordable and accessible for everyone. By supporting these initiatives and advocating for change, we can make a significant difference in the lives of many Americans and Canadians. So let's work together to make physical activity more accessible and affordable for everyone!
Check out the full podcast interview to learn how you can support the movement.