Obamacare May Hike Your Pet’s Health Care Bills

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Obamacare May Hike Your Pet’s Health Care Bills

Lachlan Markay

December 7, 2012 at 1:15 pm

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American health care consumers aren’t the only ones who will be hit by slated Obamacare tax hikes. Medical bills for their pets may go up as well.

According to a rule published Friday by the Internal Revenue Service, some medical devices used in veterinary practices will be hit by Obamacare’s 2.3 percent device tax. Many of their manufacturers are expected to hike prices, meaning higher veterinary costs for the nation’s pet owners.

The tax will not hit devices that are used exclusively for veterinary purposes. But a host of such devices are manufactured for use in both human health care and veterinary practices. Those devices’ manufacturers will have to pay the tax.

The IRS 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.

According to the FDA, common “dual use” medical devices are “examination gloves, sterile catheters, infusion pumps, etc.”

The device tax is expected to raise costs for consumers. A recent survey of 181 manufacturers found that a 52.5 percent majority plan to “pass along some or all of the increased cost [of the tax] to our consumers.” Among North American manufacturers, the portion who said they would raise prices was an even higher 58 percent.

“Across the board there is bigger inclination among firms to raise prices and pass on costs to customers as a way to deal with the US tax,” the survey found.

Pet owners already spend more than $12 billion on veterinary care annually. Obamacare may make it even more expensive to care for your pet.

Posted in Health Care, Scribe

[Guest]

[bonnie]

There has to be something in those pics that are taxable.If not yet,there will be soon

[bonnie]

What I find really fascinating is those so much more enlightened on the economy that they get almost dizzy with joy at the thought of higher tax rates for the rich.

For every added cost to the small business man,there is a added cost to the very ones they profess so much angst over.

Any business passes on every dime of cost possible.Otherwise he will not be in business very long or he will be working for wages.

When the cost of my supplies go up,I pass it to the consumer.

Hurts me as it prices some buyer's out and makes other pay more. Slowing sales.

When the cost of supplies went up for my husband,so did his price.The home builder paid him more and the home buyer paid the home builder more.

But it is so fair and just we tax the rich to pay for eight days of government spending.

Have to love Obamacare,it taxes almost evrything that touches the american consumer,but by all that is righteous and holy,those 20 something age adult children get carried on daddy's insurance.That little freebie cost daddy more and costs most of us more to pay for that "exciting free" word.

We take money out of the economy,wash it thru many fingers and then put it back into the economy and we all relax.Government is going to fix it.

If my husband and I had been that smart and business savvy in running the business our four sons and my husband and myself would have been homeless.

But then of course I could have helped stimulate the economy by going on welfare,taking money out,putting it back in and claiming growth

How many factored in higher priced vet services when dancing for joy over Obamacare.

Like everything else in this,it is not only the client using a new taxable item that gets hit,it is everyone walking thru the door