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Tuesday June 18th 2013

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House To Vote on Bill To Repeal Health Reform’s Tax on Medical Devices

The House will vote on legislation (HR 436) that would repeal a 2.3% excise tax on medical devices created to help fund the federal health reform law. The package includes two other GOP proposals, including legislation (HR 5842) that would eliminate restrictions on consumers’ ability to use tax-preferred savings accounts to pay for the cost of over-the-counter drugs. It also includes  (HR 1004) that would allow individuals with pre-tax flexible spending arrangements to keep up to $500 in unused funds. The Congressional Budget Office estimated that repealing the device tax, which would go into effect next year, would decrease federal revenue by $29.1 billion over a decade. The over-the-counter drug bill and the FSA measure also would reduce revenue by about $4 billion and $4.1 billion, respectively (Attias, CQ HealthBeat, 6/6) according to a report at CaliforniaHealthline.