Legislation was introduced this August to the U.S. House of Representatives that would authorize basic swimming lessons as a qualified expense for Health Savings Accounts (HSAs) and Flexible Savings Accounts (FSAs).
The Safe Water Instruction for Minors (SWIM) Act of 2024 is a landmark bill that prioritizes drowning prevention and helps families proactively access lifesaving swim lessons. Both HSAs and FSAs can be used to save for qualified medical expenses, such as smoking cessation programs and medications. These savings accounts are pre-tax accounts that can be used to pay for healthcare related expenses. With the introduction of H.R. 9298, basic swim skills can be added as a qualified expense and allow the use of pre-tax dollars to prevent drowning accidents.
The legislation is supported by the Pool and Hot Tub Alliance and the National Drowning Prevention Alliance.
“Learning to swim is not — and should not be — a luxury that only certain families can access,” said Olympic Gold Medalist Rowdy Gaines, the Pool & Hot Tub Alliance’s Vice President of Partnerships & Development. “At a time when drownings are on the rise — affecting minority and lowincome communities hardest — the SWIM Act bridges the financial gap by allowing parents to use HSA or FSA funds for swim lessons and helps foster a culture of water safety for generations to come.”
The legislation was introduced by Florida congressman Greg Steube, an advocate for drowning prevention.
“Tragically, we lose Floridians every year to preventable drownings,” Steube said. “Florida ranks 4th nationally in children’s drownings. It’s commonsense that our tax laws are adjusted to permit Americans’ HSAs and FSAs to help fund water safety lesson expenses. Swimming is a vital life skill, and water safety lessons
Image: https://www.investopedia.com. are proven to prevent drownings by 88 percent.
We should be looking at ways to give Americans better control over their hard-earned HSA and FSA funds.
This legislation is one of the ways Congress can give Americans increased options in their spending, while providing a more affordable path to a vital life skill.”
According to an IRS FAQ, basic swimming lessons are not currently listed as an eligible HSA or FSA expense because they are categorized as exercise for the improvement of general health and, even if recommended by a doctor, are considered “only for the improvement of general health.”
But Steube believes that essential water competency swim skills shouldn’t be broadly categorized with other forms of exercise.
These life-saving skills are designed to safely teach children how to enter water, how to resurface, control breathing, float on your back, turning and moving to safety in the water, and how to exit.
Adding basic swim skills as a qualified expense allows families to use pre-tax dollars to prevent water accidents and drownings.
