According to Deadline, the film tells the story of a reporter who leaves her New York City job to become a lifeguard at her old high school, embarking upon a stormy romance with a 16-year-old.
Bell joins Mamie Gummer, Alex Shaffer, Joshua Harto, Amy Madigan and Martin Starr in the movie, to be written and directed by Memphis Beat writer Liz W Garcia.
The Veronica Mars actress recently starred in fiancé Dax Shepard's feature film Hit and Run.
She recently hosted the 2012 CMT Awards alongside singer Toby Keith.
The Lifeguard begins principal photography this month in Pittsburgh.
Watch a trailer for Hit and Run below: