Tag: Medical device tax
Medical device tax goes back into effect
January 2, 2018HME News Staff
WASHINGTON - A 2.3% excise tax on medical device manufacturers went back into effect on Jan. 1 after a two-year hiatus, according to news reports. The tax initially went into effect in 2013 as a way to pay for expanded health insurance under the Affordable Care Act. The $150 billion medical device industry, representing everything from catheters to artificial joints, has fought the tax hard. Congress agreed to suspend the tax for 2016 and 2017, with an eye toward abolishing it before 2018, but several...
Congress looks to repeal medical device tax
June 23, 2015HME News Staff
WASHINGTON - A bill to repeal the medical device tax passed in the House of Representatives last week.H.R. 160, the Protect Medical Innovation Act, passed with a bi-partisan vote of 280-140. The bill now heads to the Senate, where repealing the tax also has bi-partisan support, according to a press release from Rep. Erik Paulsen, R-Minn.“As a country, we take great pride in our ability to create, invent and innovate—especially when it comes to products that improve people's lives,”...
HME will escape device tax
December 6, 2012HME News Staff
WASHINGTON - Most home medical equipment will be excluded from the Affordable Care Act's medical device excise tax, industry stakeholders say.The IRS on Dec. 5 issued final regulations for the 2.3% tax, which is scheduled to go into effect Jan. 1. Stakeholders believe the final regulations, unlike previous proposed regulations, are in HME's favor.“While AAHomecare continues to examine the impact of the guidance, it appears that the vast majority of home medical equipment devices will not be...