Medtech industry lobbying group AdvaMed will maintain its focus on pursuing a full repeal of the medical device tax, no matter what form the repeal takes, according to newly appointed AdvaMed chair and CVRx prez & CEO Nadim Yared. Yared, who was appointed to his position early last week, said the organization “is not in a […]
medicaldevicetax
Not so fast: Utah’s Hatch thinks medtech levy repeal could still be part of tax reform
Despite House Republicans’ insistence that any taxes associated with Obamacare – including the medical device tax – won’t be part of the negotiations over tax reform, Sen. Orrin Hatch (R-Utah) that the overall tax package could include the repeal of taxes put in place by the Affordable Care Act. The 2.3% excise tax on U.S. […]
Trumpcare’s demise augurs ill for medical device tax repeal
The immolation of the Trumpcare bill last week doesn’t bode well for the medical device industry’s hopes for repeal the medtech tax that’s slated to go back into effect next year. The 2.3% excise tax on U.S. medical device sales was enacted along with the Affordable Care Act in 2010 and went into effect in 2013. […]
WaPo Fact Checker debunks industry’s jobs claims on device tax
There is “little evidence” to show that the roughly 29,000 jobs lost in the medical-device industry after the implementation of the medical-device were a direct result of the tax, according to a Washington Post report published today. The 2.3% tax on non-retail medical devices went into effect on Jan. 2013a, with an effective rate of about […]
AdvaMed throws support behind Trumpcare bill
Medtech industry lobbying group AdvaMed has split from other medical associations and thrown its support behind the newly drafted GOP healthcare bill looking to repeal and replace Obamacare, according to the Boston Globe. AdvaMed is supporting the bill mainly as a way to eliminate the 2.3% tax on medical device sales initially imposed to help […]
Report: AdvaMed all-in on medical device tax repeal
Including language repealing the medical device tax in an upcoming reconciliation bill is reportedly the Advanced Medical Technology Assn.’s #1 priority, even as Republicans on Capitol Hill disagree on repealing Obamacare-related taxes ahead of repealing the entire Affordable Care Act. A 2-year moratorium on the 2.3% levy on U.S. medical device sales is slated to […]
Medtech sits on the sidelines as ACA repeal looms
Some major medical device industry lobbying groups are staying mum for now about the expected repeal of the U.S. Affordable Care Act—even though an extensive overhaul of the national healthcare system would have a serious impact on medtech. With so much unpredictability around how the incoming Trump administration and the new Republican Congress will replace […]
US House Reps introduce bill to permanently repeal medical device tax
Congressional legislation was introduced today looking to permanently repeal the medical device tax. The Protect Medical Innovation Act of 2017, sponsored by Rep. Erik Paulsen (R.-Minn.) and Ron Kind (D-Wis.), seeks to repeal the 2.3% medical device excise tax that was enacted as part of the Affordable Care Act. The tax, a levy on all U.S. […]
Medical device tax likely to get the axe under Trump admin
The medical device tax is likely to quickly be on the chopping block under the incoming Donald Trump administration. The 2.3% medical device tax, enacted as part of Obamacare in 2010, took effect at the beginning of 2013 but was tabled for 2 years last December as part of an omnibus tax and spending bill. The tax, a […]
Trump win augurs well for healthcare stocks
Donald Trump’s shocking upset in the U.S. presidential race augurs well for healthcare stocks, as industry can expect lower taxes, and deregulation and the dismantling of Obamacare – including the medical device tax. During his campaign, Trump and his advisors indicated his intention to repeal the Affordable Care Act, a move that has been reinforced with […]
Medical device tax rears its head in more Congressional races
Despite not getting much coverage during the U.S. presidential race, the Medical Device tax has become a hot topic for a handful of Congressional races across the country. The 2.3% medical device tax, enacted as part of Obamacare in 2010, took effect at the beginning of 2013 but was tabled for 2 years last December as part of […]