Hip, Hip, Hooray?
Obamacare and the law of intended consequences. Starting Jan 1st the 2.3% "medical devices" tax arrives. So much for containing costs.
MASSDEVICE ON CALL
— The U.S. Internal Revenue Service should have its hands full in dealing with implementation of the new taxes and rules contained in the Affordable Care Act.
The federal agency must handle more than 40 changes to the tax code as well as make sure appropriate recipients get new tax credits and individuals and businesses pay penalties for any non-compliance.
Included among those new laws is the 2.3% medical device sales tax
slated to take effect January 1, 2013, which industry stakeholders are actively lobbying against.
The IRS has said its ready to tackle the new laws, but some are concerned that the agency isn't prepared to manage the potentially gargantuan task.
"They're going to be very strained," former IRS commissioner Mark Everson told Politico
. "The main thing is the vast amount of information required for the IRS to collect and dispense. (...) There's a lot of complexity to it."
The link also includes another link to the "doc fix" dilemna. In short Medicare reimbursement has been scheduled for years to drop but apparently even FedGov is powerless in the dace of market forces in this case. The rates are too low to provide services and the savings keep getting delayed.
Edit: Added a sexier hip picture to keep down my disreputation and hopefully get skk to start reading. ;-)