Skip to comments.IRS finalizes new tax for medical devices in healthcare law
Posted on 12/06/2012 9:15:08 AM PST by george76
The U.S. Internal Revenue Service on Wednesday released final rules for a new tax on medical devices, products ranging from surgical sutures to knee replacement implants, that starts next year ...
The tax applies mostly to devices used and implanted by medical professionals, including items as complex as pacemakers or as simple as tongue depressors.
Products sold for humanitarian reasons, such as experimental cancer treatment devices, are not exempt from the tax.
it remains "an open question" when latex gloves come under the tax
(Excerpt) Read more at reuters.com ...
Which in turn is passed along, yeah lower costs...
No it’s not passed along. It’s a tax on the Gross revenue not the Net.
I presume it also applies to breast implants?
(let the punchlines commence)
This a Change I could have done without, but I am just an evil, racist, homophobic conservative, and I deserve it! It is social justice! sarc
Enjoy your higher health care costs, America.
It is always passed along. Whether directly via the market or us getting another tax increase.
Ultimately it can be passed along, even if tax is on the gross. Pay 2.3 tax on 100 buck device and you’re left with 97.70. Raise the cost of the device to $110, pay the same 2.3% tax and you’re left with 107.47.
But it’s not initially passed on to the patient, it will be passed on to the insurer...and the consumer will either be faced with higher insurance costs, or will limit approval for the use of a device...which in turn will mean layoffs at the manufacturer because less devices are needed.
Either way, it’s a bad thing (and the major devices cost 10’s of thousands of dollars, not $100.)
Crap. Wonder if I can still schedule that knee replacement before the end of the month...
You can probably get a prosthetic penis tax-free if you’re a bull dyke lesbo.
what next .. BoToX?
one of wifey’s has had both done over the last 3 years.. she’s zooming around,, Hit the stationary bike right away.. it’ll make recovery time easier ,, flexibility once lost is oft harder to regain.. Good Luck!
one of wifeys galfriend walking regulars
That’s exactly the way any socialist system “saves money” - withholding care.
I you ever want to get screwed.....call the IRS.
Ironically, or is that the wrong word, we have plenty of examples from Canada, Cuba and Europe to prove that government health care programmes impose scarcity and kill people. Yet, our media never reports this. Instead they join the chorus for Canadian, Cuban and European style health care.
Is it mind-blindness or evil? Regardless, the results are the same.
When there is ample evidence that their “solution” doesn’t achieve their stated goals, or there is a proven less damaging way of achieving their stated goals,
THEY’RE LYING ABOUT THEIR STATED GOALS,
AND THE DAMAGE _IS_ THE GOAL.
No its not passed along. Its a tax on the Gross revenue not the Net.”””
Not following your logic here, friend.
The tax is on the MANUFACTURER of the items, as I understand it.
Therefore—the manufacturer will add such costs to the price of what they sell to the medical clinics, doctors, and hospitals.
That certainly becomes a ‘pass along cost’.
The liberals who worship obama don’t care. All of healthcare is going to be free. But they will be surprised.