Three bills related to eliminating healthcare reform tax on medical device manufacturers have already been introduced in Congress, and two more are expected to be introduced shortly, according to a report from The Hill.
The planned 2.3 percent excise tax would begin in 2013 and raise $20 billion over 10 years to contribute to the healthcare overhaul. The medical device industry has resisted the tax from the start, and now industry trade groups such as the advanced Medical Technology Association are gaining influence since the Republicans took majority in the House of Representatives.
AdvaMed President and CEO Stephen Ubl said that members of Congress want to add or protect high-tech jobs in their districts, which means protecting medical device manufacturers. A repeal of the tax is possible without undermining the positive provisions within the law, Mr. Ubl said.
AdvaMed is also joining others against the healthcare reform law's Medicare Payment Advisory Board, which requires cuts to Medicare payments if prices increase faster than the target.
Read the report from The Hill on the medical device tax.
Read other coverage on the medical device industry:
- 42 Orthopedic and Spine Device Companies to Know
- Healthcare Reform Act's Impact on Orthopedic and Spine Device Companies: Q&A With Kristian Werling of McGuireWoods
- Orthopedic and Spine Device Industry Post-Reform: 6 Challenges
The planned 2.3 percent excise tax would begin in 2013 and raise $20 billion over 10 years to contribute to the healthcare overhaul. The medical device industry has resisted the tax from the start, and now industry trade groups such as the advanced Medical Technology Association are gaining influence since the Republicans took majority in the House of Representatives.
AdvaMed President and CEO Stephen Ubl said that members of Congress want to add or protect high-tech jobs in their districts, which means protecting medical device manufacturers. A repeal of the tax is possible without undermining the positive provisions within the law, Mr. Ubl said.
AdvaMed is also joining others against the healthcare reform law's Medicare Payment Advisory Board, which requires cuts to Medicare payments if prices increase faster than the target.
Read the report from The Hill on the medical device tax.
Read other coverage on the medical device industry:
- 42 Orthopedic and Spine Device Companies to Know
- Healthcare Reform Act's Impact on Orthopedic and Spine Device Companies: Q&A With Kristian Werling of McGuireWoods
- Orthopedic and Spine Device Industry Post-Reform: 6 Challenges