Go to navigation Go to content Healthmark Foot & Ankle Associates

IRS finalizes new tax for medical devices in healthcare law

Comments (0)

The introduction of new healthcare initiatives brought on by the Obama Administration has meant lots of changes for lots of people and businesses. We have seen recent economic hardships throughout the past few years and hardships that everyone has felt the brunt of. As the country heads towards the fiscal cliff, there are many changes that will been seen and felt within the United States. The Internal Revenue Service (IRS) has issued a new tax on medical devices and supplies which looks to be implemented as soon as December 31 of this year. This charge would be a 2.3% tax increase on medical supplies from pace-makers to surgical tape. There are many exemptions from the tax such as prosthetics, eye-glasses, and hearing-aids. Many medical device companies are lobbying to be taxed after the fiscal cliff, so that the burden won't be as hard. This tax should not effect the quality of healthcare that you receive, private or public.

We here at Heathmark Foot and Ankle have certainly seen many changes that have come with the Obama Administration's national healthcare revisions. In our facilities we have updated much of our technology and procedures to fit the standards of the government insurance option that is soon to be put in place. Complaining, agreeing or disagreeing with the new measures is not what's important. Lot's of the changes have been confusing and overwhelming on millions of people within the healthcare industry. We understand that these times are quite burdensome, and quite honestly they can seem downright annoying, but large scale change is never easy in the beginning. So we here at Healthmark are keeping our heads up, but also staying regularly up-to-date of what changes have been coming out of Washington.

Comments are closed.