PHIT - Impact on fencing?

[Craig]

The US Congress is considering a bill that will allow you to put pretax dollars into a medical reimbursement account to be used for fitness related expenses. The bill (HR 2105) is called “PHIT” or Personal Heath Investment Today Act and is one of the measures of healthcare reform.

PHIT for Fencing blog post

[noodle]

that would be awesome

[Craig]

Shifting some incentives towards preventative measures vs. treatments is something I would be in favor of. Most active fencers will blow through the $2000 cap in a year. (I know that I would blow through $2k for fitness activities pretty easily given that I've got kids to pay for also.)

Craig

[Allen Evans]

I wonder if expenses for activities in which the tax payer might expect some external benefit (such as competiting at an elite level with the chance for endorsements or other rewards) would be excluded?

Yeah, most fencers could blow through $2000 in short order, but it's $2000 you're going to spend anyway.

Is there an actual bill number you can refer us to, Craig?

[Fencergrl]

Canada did this kind of thing a few years ago. It's not much, but at least it's a step in the right direction.

[Craig]

Is there an actual bill number you can refer us to, Craig?

In the blog post. The bill (HR 2105) is called “PHIT” or Personal Heath Investment Today Act.

[rudd]

I like it. Hopefully this passes.

[edew]

Sounds like we (club owners) can start to up our fees by 30%! Woohoo!

[leftyboy]

Don't get your hopes up. The bill hasn't had any movement since April since it was referred to the Ways and Means committee. It looks like it died upon arrival, I see no mention of it being discussed in the subcommittee on Health. Granted Health hasn't had a meeting in a month, but it looks like they're going to refuse to report on it to the House. Worse news, when searching for the bill on the committee site, I got a letter dated 2006. This bill seems to be introduced every year only to die upon arrival in committee.

For non political wonks, it's not remotely close to even coming before the House for a vote. I believe this iteration is dead.

[edew]

Then we need to just raise the rates by 55% to account for the loss of potential new customers due to the lack of passage of this bill.

/just channeling the oil companies

[magic_moose]

Sounds like we (club owners) can start to up our fees by 30%! Woohoo!

Then we need to just raise the rates by 55% to account for the loss of potential new customers due to the lack of passage of this bill.

/just channeling the oil companies

Don't forget Universities.....

[edew]

Unis don't have the cajones to pop a one-time 55% increase. On the other hand, they manage to do a more continuous 10% annual increase. I guess it's easier for the CPAs to forecast future cash flow that way.

[snarsdale]

Follow the lead of Comcast Cable.
The rates creep up almost every month, then every 6 months they goose it more, and call it a "rate increase", carefully ignoring the continual escalation.

[seak]

Don't worry Time Warner is worse. They do the same thing, and then try to put lots of channel on their digital tier even when they lose multiple arbitration decisions.

[counterattack]

Shifting some incentives towards preventative measures vs. treatments is something I would be in favor of. Most active fencers will blow through the $2000 cap in a year. (I know that I would blow through $2k for fitness activities pretty easily given that I've got kids to pay for also.)

Craig

If it is like everything else, it would phase out at levels that leave professionals in CA outside anyway. That the Feds don't take any account of the local cost of living is kind of ridiculous.

-ph

[hello?]

For non political wonks, it's not remotely close to even coming before the House for a vote. I believe this iteration is dead.

Thanks for the reality check. (So frustrating, though. I can discount a gym membership I barely use...but not a cardio-workout-from-hell I do six days a week..at over 50.)