Proposed tax on cardiac and other medical devices
- Thread starter Nancy
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Crying (and biting my lip) 
That was proposed several months ago. Officials from states with quite a few medical device mfrs are opposing this -- Minnesota, for one. Don't know about Texas (home of several heart valve mfrs, for starters On-x).
Don't these companies already pay taxes on their sales of these items (i.e., income taxes)?
Don't these companies already pay taxes on their sales of these items (i.e., income taxes)?
I will keep my political views out of this forum. If you think about what a medical device is, then just about anything that has to be approved by the FDA and other gov. agencies could be taxed. Toothbrushes, Dental Floss, band aids, and whatever else. Will insurance cover the tax or will that be passed directly to the consumer? I would hate to see what the tax would be on a heart valve.
Ross
Well-known member
Is this going to be a political thread?
Ross
Well-known member
Nancy
Well-known member
Well, the article implies that ANY medical device is included, and that the tax may be tiered, less for something like an arm sling, and more for defibrillators and heart valves.
Good Lord Doug, don't remind them of things they haven't yet gotten to or they will.
Ross,
I didn't think of those things on my own. I heard it on the radio the other day.
Quoting and paraphrasing myself . . . Anyone know what these proposed tax monies are supposed to fund?(Edit - I searched through many articles without finding any satisfactory answer but finally did find a September article in the Boston Globe that stated that the proposed tax is "to help pay for an overhaul of the nation's health care system.")
2.5%
2.5%
A tax on medical devices isn't a good idea.
However if I was in the US I would be more concerned about why I was being charged up to 10x the price for a device than someone outside the US is and the device is made in the US.
The devices are not being sold at a loss outside the US.
This makes 2.5% rather trivial as far as device costs are concerned.
2.5%
A tax on medical devices isn't a good idea.
However if I was in the US I would be more concerned about why I was being charged up to 10x the price for a device than someone outside the US is and the device is made in the US.
The devices are not being sold at a loss outside the US.
This makes 2.5% rather trivial as far as device costs are concerned.
A tax on medical devices isn't a good idea.
However if I was in the US I would be more concerned about why I was being charged up to 10x the price for a device than someone outside the US is and the device is made in the US.
The devices are not being sold at a loss outside the US.
This makes 2.5% rather trivial as far as device costs are concerned.
Uh huh Old Man Emu ~ you've just hit the nail on the head. As an example; I bought a CoaguChek in the UK for about $650USD and one in the USA for about $2,400USD......crazy huh?
And I wonder what the NHS pays for valves versus what USA hospitals pay for valves..??? My mechanical aortic valve was listed for about $6,500 and that was TEN years ago..
Nancy
Well-known member
Lily, that's exactly what I thought.
Cost
Cost
ShezaGirlie
I have a copy of a private health funds rebate schedule for just about every device you can imagine. The schedule is closely aligned with the public health systems cost because of the way government controls these device costs.
Here are some valve prices in AUD.
STJude 'Regent Prosthestic Heart Valves 25-29mm 6K
STJude 'Regent Prosthestic Heart Valves 17-23mm 6.5K
ON-X 'Aortic On-X Prosthetic Heart Valve 19-33mm 5.5K
My own Medtronic Mosaic
'Mosaic Aortic, Mitral Model 305 & 310 19-35mm $4445
I would be interested to know what these are being sold for in the US
Cost
ShezaGirlie
I have a copy of a private health funds rebate schedule for just about every device you can imagine. The schedule is closely aligned with the public health systems cost because of the way government controls these device costs.
Here are some valve prices in AUD.
STJude 'Regent Prosthestic Heart Valves 25-29mm 6K
STJude 'Regent Prosthestic Heart Valves 17-23mm 6.5K
ON-X 'Aortic On-X Prosthetic Heart Valve 19-33mm 5.5K
My own Medtronic Mosaic
'Mosaic Aortic, Mitral Model 305 & 310 19-35mm $4445
I would be interested to know what these are being sold for in the US
B
Bridgette
Southern Cross Health Insurance in NZ allows about $4000-6000 (NZD) for a valve, which more than covered my On-x valve 3 years ago.
Got to agree with Old Man Emu - someone in the US is making big money out of this
Got to agree with Old Man Emu - someone in the US is making big money out of this
However if I was in the US I would be more concerned about why I was being charged up to 10x the price for a device than someone outside the US is and the device is made in the US.
One thing to remember is many of the insurance companies have negotiated rates, so they are not paying the list price for the treatment nor the medical devices. The negotiated rate is much lower. I will see if the On-X is listed separately on my bill after I receive it. I wonder how many pages that bill will be?
Jkm7
Well-known member
The 'full retail price' of my valve was listed at very much more than the insurance company actually paid for it. I saw what they billed and what was ultimately paid. Certainly the surgeon and hospital were well informed as to the contractual agreements with my insurance company.
Also, many pharmaceuticals are priced much higher in U.S. and it's been said we are paying for a great deal of the research the world benefits from. We pay (not exclusively, of course) for the drug companies to develop many of the new medications. The whole world (happily) gains a new treatment.
Also, many pharmaceuticals are priced much higher in U.S. and it's been said we are paying for a great deal of the research the world benefits from. We pay (not exclusively, of course) for the drug companies to develop many of the new medications. The whole world (happily) gains a new treatment.
james
Well-known member
OK since nobody has answered the question about where the tax money is going I am gonna make a guess.
We are going to buy ponies and lollypops with it. Then we will all go to the carnival. At that carnival all the carnies will be polite and have 32 teeth.
or it may go into pet projects and pork....bridges to golf courses on private islands etc...
We are going to buy ponies and lollypops with it. Then we will all go to the carnival. At that carnival all the carnies will be polite and have 32 teeth.
or it may go into pet projects and pork....bridges to golf courses on private islands etc...
WASHINGTON – The Senate on Sunday (today) passed a $1.1 trillion spending bill with increased budgets for vast areas of the federal government, including health, education, law enforcement and veterans' programs.
The more-than-1,000-page package, one of the last essential chores of Congress this year, passed 57-35 and now goes to President Barack Obama for his signature.
Drum roll please......tadaaah......The bill also approves a 2 percent pay increase for federal workers.
The more-than-1,000-page package, one of the last essential chores of Congress this year, passed 57-35 and now goes to President Barack Obama for his signature.
Drum roll please......tadaaah......The bill also approves a 2 percent pay increase for federal workers.
