People who maintain physically active and healthy lifestyles are known to have a reduced risk of chronic disease. Exercise is viewed as a primary reason for this reduced risk.If we were all healthier, studies show that there would be decreased health care costs, reduced government spending on health care, and more worker production. To help promote exercise and general well being, there are two legislation bills before congress at this time.
The first is known as (PHIT) Personal Health Investment Today Act, and it would permit individuals to pay for various physical activities, such as gym fees and team sports with pretax money deposited into a flexible spending account. It is a way to ease the financial burden of being more physically active. Americans could invest up to $1,000 a year to pay for such activities.
The second act is known as (WHIP) Workplace Health Improvement Program, and it would allow companies to deduct the cost of off-site fitness memberships for their employees. Currently employees are not taxed if they use an on-site work place gym.
However, employees must report benefit of paid membership by their employer to any off-site facilities as additional income which can thus be taxed.
