Wednesday, December 26, 2012

Zoll CEO Packer on device tax repeal efforts: No pessimists on the front lines


December 20, 2012 by Arezu Sarvestani

Zoll CEO Rick Packer says that tax repeal advocates on the front lines of the discussions with Washington are optimistic that the levy on device makers will be addressed before it hits in January.
Zoll CEO Richard Packer
As the medical device excise tax creeps closer to its planned launch date, all eyes are on Congress to see whether medtech lobbying efforts will yield a win for the industry.

While lawmakers weigh the tax and argue their way toward the so-called fiscal cliff, device industry stakeholders are placing their bets on whether or not the excise tax will survive until January.

Device makers need many months, millions of dollars to figure out medtech tax compliance

December 18, 2012 by MassDevice staff

The burden posed by the coming medical device tax is more than a 2.3% cut of revenues – it means millions in administrative costs and months of preparation to decipher new tax codes and develop systems for compliance.
accounting image
Medical device industry lobbying groups warned that the tax slated to take effect on January 1 will cost the industry more than the $30 billion it's slated to raise over 10 years - it could cost upwards of $660 million annually in implementation costs alone

Based on a small survey of 81 respondents representing a broad range of medtech companies, the sales tax will require months of preparation and millions in yearly administrative costs, adding to the 2.3% top-line cut the measure is designed to yield in support of healthcare reform.

Politics and pessimism aren't slowing medical device tax repeal efforts

December 14, 2012 by Arezu Sarvestani

Spirits remain high among medical device industry advocates pushing for repeal of the 2.3% medtech tax, despite political obstacles. coverage of the medical device tax
Political roadblocks aren't dampening the spirits of medtech industry advocates pushing for repeal of the looming medical device tax, despite the fact that the levy's slated to take effect in less than 3 weeks.

Even President Barack Obama's on-camera refusal to support a delay for the medical device tax last night hasn't curbed the enthusiasm.

Medical device tax: GOP group demands Dems sign petition for repeal

December 14, 2012 by MassDevice staff

The National Republican Congressional Committee launches a petition campaign, demanding that more Democratic senators sign on in support of repealing a 2.3% levy on medtech sales or else "pave the way for the job-killing medical device tax."
NRCC's medical device tax repeal petition
The National Republican Congressional Committee launched a petition campaign to rally support for repeal of the 2.3% medical device tax contained in President Barack Obama's Affordable Care Act.
The group sent the petition to a handful of Democratic senators, asking that they either sign their names in support of striking the levy or "pave the way for the job-killing medical device tax."

Words of caution for device tax repeal efforts | On Call

December 14, 2012 by MassDevice staff

As more voices join the urgent call for repeal of the medical device tax, some caution against depriving the Affordable Care Act of the nearly $30 billion in funding the tax is expected to raise over 10 years.
MassDevice On Call
MASSDEVICE ON CALL — As more lawmakers join the medical device industry in calling for a repeal or delay of the medical device tax that's slated to hit January 1, some groups sought to temper the growing enthusiasm with words of warning

President Obama defends the medical device tax (video)

December 14, 2012 by MassDevice staff

President Barack Obama tells reporters that he's unwilling to consider delaying the medical device tax because healthcare reform is "going to be great for business."

President Barack Obama took a hard stand against efforts to repeal or delay the 2.3% medical device tax taking effect in January.

The tax was created through the Affordable Care Act and is designed to raise around $30 billion over 10 years to help support various facets of healthcare reform.

Fiscal cliff debates bring more talk of medtech tax repeal | On Call

December 11, 2012 by MassDevice staff

Advocates of repealing the medical device tax see opportunities during the discussions about the so-called "fiscal cliff" Congress faces at the start of next year.
MassDevice On Call
MASSDEVICE ON CALL — Opponents of the 2.3% medical device tax are looking for opportunities to address their concerns during the Congressional debates of the so-called "fiscal cliff."
The discussions may be gaining momentum as more voices in the House and Senate call for either repeal or delay in implementation for the tax, which takes effect January 1.

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