• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

CEO of $20 billion AI firm Perplexity says the secret to success is ‘sleeping with that fear’ that your competitor will steal your idea

2

Current price of oil as of June 15, 2026

3

Boomers actually do hold most of the wealth and power. So why do they call it 'whiny' to point that out?

1

CEO of $20 billion AI firm Perplexity says the secret to success is ‘sleeping with that fear’ that your competitor will steal your idea

2

Current price of oil as of June 15, 2026

3

Boomers actually do hold most of the wealth and power. So why do they call it 'whiny' to point that out?
Healthpublic health

You Could Soon Get a Tax Break for Going to the Gym—But Should You?

By
Sy Mukherjee
Sy Mukherjee
Down Arrow Button Icon
By
Sy Mukherjee
Sy Mukherjee
Down Arrow Button Icon
July 18, 2018, 4:33 PM ET
Add Fortune on Google for similar content.

On Thursday, the powerful House Ways and Means Committee advanced legislation that would let (some) Americans write off (certain) fitness expenses as a tax deduction. The bill, dubbed the Personal Health Investment Today, or PHIT Act, is enthusiastically backed by health care companies and nonprofits like Fitbit, the American Heart Association, Nike, the Sports and Fitness Association, and others; it passed through the committee on a bipartisan 28-7 vote.

If signed into law, the PHIT Act would amount to a tax break for gym memberships, fitness classes, and the purchase of certain “safety equipment” related to fitness (it’s unclear exactly what kind of equipment and activity would qualify under the legislation’s purview—although certain things like horseback riding and golfing wouldn’t pass muster). Just how much of a break might one get? Qualified expenses couldn’t exceed $500 for an individual or $1,000 for a joint household return.

It’s an open question whether or not the proposal will ultimately pass. But it’s already drawing some raised eyebrows from critics who say it would essentially benefit wealthy (and relatively healthy) people who already go to a gym or take fitness classes while doing little to incentivize the vast majority of Americans to exercise more.

Why is that? For one thing, the measures are centered around health savings accounts (HSAs) and flexible savings accounts (FSAs)—financial tools that are ostensibly meant to pay for out-of-pocket medical costs and that many taxpayers don’t necessarily have access to.

But the deductions would also have to be itemized under the existing measure. For context, less than a third of all taxpaying households itemize, and they skew heavily toward the wealthiest Americans. And while preventive wellness programs have become a regular cottage industry in the public health sphere, the evidence supporting their overall effectiveness is, at this point, still decidedly mixed.

Subscribe to Brainstorm Health Daily, our newsletter about exciting health innovations.

About the Author
By Sy Mukherjee
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Health

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Health

mitch
North AmericaCongress
Mitch McConnell, 84, hospitalized with no details released; term ends in January
By The Associated PressJune 15, 2026
16 hours ago
target
HealthRecalls
FDA recalls Nara Organics baby formula after infant botulism cases in 3 states
By The Associated PressJune 15, 2026
16 hours ago
‘There simply isn’t enough product for the U.S. customer’: GLP-1 craze eats whey too much protein
RetailFood and drink
‘There simply isn’t enough product for the U.S. customer’: GLP-1 craze eats whey too much protein
By Dee-Ann Durbin and The Associated PressJune 14, 2026
2 days ago
Middle-aged adults taking GLP-1s for obesity can save over $192K on lifetime medical costs, higher if they don’t have college degrees, new study finds
HealthHealth
Middle-aged adults taking GLP-1s for obesity can save over $192K on lifetime medical costs, higher if they don’t have college degrees, new study finds
By Mia OsmonbekovJune 14, 2026
2 days ago
U.S.’s screwworm fix is still a year away, risking more spread
North AmericaAgriculture
U.S.’s screwworm fix is still a year away, risking more spread
By Ilena Peng and BloombergJune 13, 2026
2 days ago
Meet the lone star tick: the primary U.S. source of alpha-gal syndrome, which is a life-threatening meat allergy that’s on the rise
HealthHealth
Meet the lone star tick: the primary U.S. source of alpha-gal syndrome, which is a life-threatening meat allergy that’s on the rise
By Matthew Perrone and The Associated PressJune 13, 2026
3 days ago

Most Popular

CEO of $20 billion AI firm Perplexity says the secret to success is ‘sleeping with that fear’ that your competitor will steal your idea
Success
CEO of $20 billion AI firm Perplexity says the secret to success is ‘sleeping with that fear’ that your competitor will steal your idea
By Preston ForeJune 13, 2026
3 days ago
Current price of oil as of June 15, 2026
Personal Finance
Current price of oil as of June 15, 2026
By Joseph HostetlerJune 15, 2026
16 hours ago
Boomers actually do hold most of the wealth and power. So why do they call it 'whiny' to point that out?
Economy
Boomers actually do hold most of the wealth and power. So why do they call it 'whiny' to point that out?
By Nick LichtenbergJune 14, 2026
2 days ago
Meet Gwynne Shotwell, the engineer-turned-COO who runs SpaceX in platform heels and is now worth over $2 billion
Startups & Venture
Meet Gwynne Shotwell, the engineer-turned-COO who runs SpaceX in platform heels and is now worth over $2 billion
By Eva RoytburgJune 15, 2026
23 hours ago
Current price of silver as of Monday, June 15, 2026
Personal Finance
Current price of silver as of Monday, June 15, 2026
By Joseph HostetlerJune 15, 2026
16 hours ago
Social Security's 2032 deadline puts a 22% cut on the table — but Washington has way less room to negotiate than 1983
Personal Finance
Social Security's 2032 deadline puts a 22% cut on the table — but Washington has way less room to negotiate than 1983
By John W. Diamond and The ConversationJune 12, 2026
3 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.