“Last month was tax time, and some small businesses filed at last for the health insurance tax credit included in the health reform law. Most will be disappointed. Since the Patient Protection and Affordable Care Act (PPACA) passed a year ago, its supporters have touted its benefits. Yet, it’s important to remember why the credit does not deserve any lavish praise.”
“President Barack Obama signed a bill repealing a tax-compliance mandate in last year’s health- care law, giving a victory to business groups that led a campaign against the requirement.
The repealed provision, under which companies would have had to report more transactions to the Internal Revenue Service, was included in the law as a revenue-raising measure. It was to have taken effect in 2012.”
“After a months-long battle, the Senate voted Tuesday, 87 to 12, to repeal the 1099 tax-reporting requirement in Democrats’ healthcare reform bill. The measure now goes to the president, who is expected to sign it, making it the first part of his party’s signature reform bill to be scrapped.”
“The Senate is slated to take up a House-passed 1099 repeal bill on Tuesday morning that will likely pass, a Republican aide told The Hill on Thursday night. If the House-passed measure gains approval without being amended, the bill goes to President Obama for his signature. “
“Hospitals groups are afraid a healthcare reform tax on medical device manufacturers will wind up hurting them more than the device makers.
The reform provision, which is the target of repeal efforts in the House and Senate, imposes a 2.3 percent excise tax on the sale of most medical devices starting in 2013.”
“1. Did you know that . . . since Jan. 1 of this year (2011), you cannot use your flex-account at work (FSA) or health savings account (HSA) to purchase over-the-counter medicines?
2. Did you know that . . . since July 1 of last year (2010), Americans have been paying a 10 percent excise tax on all indoor tanning services?”
“Our current health care
arrangements have many
flaws, but we should not lose
sight of the many blessings
that come from the life
saving and life lengthening
by the U.S. health care system. Reforming the reforms is
our next task, one that I hope we will approach with more
sobriety and less partisanship than has been our recent
“The ACA contains insurance reforms, medical device taxes, pharmaceutical fees, and insurance company
fees that will raise the cost of insurance for millions of individuals, small businesses and households.
This analysis suggests that the insurance tax in isolation will raise premiums by roughly 3 percent. An
important topic for future research is to perform similar analyses for the other cost-raising aspects of the
ACA in order to assess the overall pressure on premiums.”
“Sandy Chung is grappling with a new kind of request at her pediatrics office in Fairfax, Va.: prescriptions for aspirin and diaper-rash cream.
Patients are demanding doctors’ orders for over-the-counter products because of a provision in the health-care overhaul that slipped past nearly everyone’s radar. It says people who want a tax break to buy such items with what’s known as flexible-spending accounts need to get a prescription first.”
“The Democratic plan for closing the budget gap has always centered on raising taxes and rationing care. What most people don’t yet realize is just how far ObamaCare has already taken us down that road.”