So I'm reading articles about this Medical Device Tax that's part of the Affordable Care Act (Obamacare) that's supposed to take effect on Jan. 1, 2013.
And I'm reading about layoffs among the medical device makers. Specifically they mentioned Medtronics and Stryker, and how due to the cost of the tax (which I personally think will be passed onto the consumer or the insurance company) they're gearing down some of their manufacturing.
Here's the IRS explanation of the tax:
http://www.irs.gov/uac/Medical-Devic...sked-Questions
But I've googled a bunch and wonder what exactly is included in the law as a Medical Device. I know my pump will be, but are we talking durable medical equipment also which a lot of us use at some point.
So I'm trying to define what will be taxed, subsequently what will cost us more, or our insurance companies more (which bugs me because in the past the things that cost insurance companies more have been denied, i.e. making us try less expensive drugs before agreeing to pay for a more expensive one.)
The best article that I could find was this one...and all it says is that if you can buy it retail, like glasses, contact lenses, etc...then it won't be taxed.
http://www.bizjournals.com/charlotte....html?page=all
So I'm assuming canes, crutches, rollators won't be taxed, but what about powerchairs that are paid for by insurance, or an AFO for instance.
Anybody able to tell me, or give me a link that nails down what exactly is considered to be a medical device...I'd appreciate it.
And I'm reading about layoffs among the medical device makers. Specifically they mentioned Medtronics and Stryker, and how due to the cost of the tax (which I personally think will be passed onto the consumer or the insurance company) they're gearing down some of their manufacturing.
Here's the IRS explanation of the tax:
http://www.irs.gov/uac/Medical-Devic...sked-Questions
But I've googled a bunch and wonder what exactly is included in the law as a Medical Device. I know my pump will be, but are we talking durable medical equipment also which a lot of us use at some point.
So I'm trying to define what will be taxed, subsequently what will cost us more, or our insurance companies more (which bugs me because in the past the things that cost insurance companies more have been denied, i.e. making us try less expensive drugs before agreeing to pay for a more expensive one.)
The best article that I could find was this one...and all it says is that if you can buy it retail, like glasses, contact lenses, etc...then it won't be taxed.
http://www.bizjournals.com/charlotte....html?page=all
So I'm assuming canes, crutches, rollators won't be taxed, but what about powerchairs that are paid for by insurance, or an AFO for instance.
Anybody able to tell me, or give me a link that nails down what exactly is considered to be a medical device...I'd appreciate it.