PHIT Act Reaches Another Milestone

On Wednesday, June 6, 2018, the House Ways and Means Committee, the top congressional tax committee, will hold a hearing on HSA Reform. More specifically, the discussion will cover “Lowering Costs and Expanding Access to Health Care through Consumer-Directed Health Plans.” This is great news for the Personal Health Investment Today (PHIT) Act. The PHIT Act is a heavily-supported, bipartisan HSA reform, which will lower the cost of activity by making qualified activity-related expenses tax deductible, through the use of HSAs and FSAs.

Overall, the members of the Ways and Means Committee are exploring ways to make HSA accounts more consumer-friendly, and provide optimal benefit. Through SFIA’s efforts to improve health in America throughout the years, we are excited about this opportunity for the PHIT Act.

Stay tuned for a post-hearing update…