By now, we all know that the Affordable Care Act is anything but affordable. Health care and insurance premiums have skyrocketed and we are all facing $2,000-$4,000 in tax increases. The number of uninsured Americans is also climbing while the number of doctors practicing medicine is declining.
But did you know that the Affordable Car Act – aka Obamacare – will also cost you more when you take your pets to the vet?
According to the Heritage Foundation, a newly released IRS rule states that a 2.3% device tax will be levied on most medical devices before they leave the manufacturer. The rule states:
“Section 4191 [of the Internal Revenue Code] limits the definition of a taxable medical device to devices described in section 201(h) of the [Federal Food, Drug, and Cosmetic Act] that are intended for humans, but does not provide that the device must be intended exclusively for humans. Under existing [Food and Drug Administration] regulations, a device intended for use exclusively in veterinary medicine is not required to be listed as a device with the FDA, whereas a device intended for use in human medicine is required to be listed as a device with the FDA even if the device may also be used in veterinary medicine.”
Even though the device tax will only affect devices used to treat humans, many of them are also used to treat Fluffy and Fido. Those devices with dual human and pet uses include examination gloves, sterile catheters and infusion pumps among others. Over half of the manufacturers of the medical devices that will be subject to the device tax told the Heritage Foundation that they will automatically pass the cost of the tax on to their customers. Most likely, a large number of those customers will pass their increased cost on to their customers and patients, which means your vet will be raising his/her prices that they charge you.
Obama wants to tax the wealthy, tax the healthy, tax the old, tax the young, tax your debts and tax your pets.