Medical device tax returns after 2-year suspension
A 2.3-percent tax on the sale of medical devices officially returned Jan. 1. The tax had been suspended for two years, but that pause ran out when 2017 ended.
Removing the tax altogether was part of Republican plans to repeal Obamacare, but such a stipulation was not included in the tax legislation signed into law by President Donald Trump on Dec. 22.
In December, the Medical Imaging & Technology Alliance (MITA) showed its support of legislation that would have delayed the medical device tax for five years. “The five-year suspension is a step in the right direction for stimulating economic growth, encouraging medical innovation and improving patient care,” Patrick Hope, MITA’s executive director, said in a prepared statement.
The Advanced Medical Technology Association also issued a statement in support of the legislation.
Michael has more than 18 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.