Advocacy Reports: AGD Works to Repeal Tax on Medical Devices
The Academy of General Dentistry (AGD) continues to work with organized dentistry in attempts to repeal a new 2.3% medical device excise tax created by the Patient Protection and Affordable Care Act (PPACA) of 2013. The tax went into effect on Jan. 1, 2013.
The IRS will tax manufacturers on the sales of certain devices, including dental cement and impression material, which affects dental practices by increasing the costs of care.
According to the Organized Dentistry Coalition, this tax will increase the cost of dental care in the U.S. by more than $160 million per year. AGD continues to work with organized dentistry in attempts to repeal the excise tax, gain an exemption for dental devices, or delay enforcement. Click here for AGD list of devices likely to be taxed.
The medical device excise tax isn’t the only way the PPACA could affect your practice, according to AGD. The House Committee on Small Business has released a guide to help small businesses, including dental practices, learn more about PPACA health care provisions that take effect in 2013 and 2014 .
To see a complete timeline of PPACA updates, click here.