• Magazine
    • Current Issue
    • Past Issues
    • Subscribe
    • Change Mailing Address
    • Surveys
    • Guidelines for Authors
    • Editorial Calendar and Deadlines
    • Dynamic Chiropractic
      • Newspaper
      • Subscription
    • The American Chiropractor
      • Magazine
  • Practice
    • Business Tips
    • Chiropractic Schools
    • Clinical & Technique
    • Ebooks
    • Ecourses
    • Sponsored Content
    • Infographics
    • Quizzes
    • Wellness & Nutrition
    • Podcast
  • Content Hubs
  • Products & Services
    • View Products & Services Directory
    • Browse Buyers Guide
    • Submit a Product
    • Vendor Login
  • Datebook
    • View Events
    • Post an Event
    • Become an Events Poster
  • Advertise
    • Advertising Information
    • Media Kit
    • Contact Us

Your Online Practice Partner

Chiropractic Economics
Your Online Practice Partner
Advertise Subscribe
  • Home
  • News
  • Webinars
  • Chiropractic Research
  • Students/New DCs

House Committee passes legislation repealing excise tax on medical devices

Chiropractic Economics Staff June 1, 2012

June 1, 2012 — The U.S. House Ways and Means Committee approved several bills including two that repealed specific provisions of the Patient Protection and Affordable Care Act (PPACA).

The first measure, H.R. 436, would repeal PPACA’s 2.3 percent excise tax on medical devices, which is often passed on to providers. The other, H.R. 5842, would repeal the law’s restrictions on using tax-preferred accounts — such as flexible spending arrangements (FSAs) — to pay for over-the-counter drugs and certain supplements. The excise tax on medical devices is due to go into effect in 2013.

The Committee also approved H.R. 1004, a bill that would allow money left in a participant’s FSA at the end of a plan year to be distributed back to the individual and treated as normal, taxable income.

A final bill approved today by the Committee, H.R. 5858, would make a variety of changes to the rules for health savings accounts (HSAs). The changes would include allowing low-income workers to receive a tax credit for contributions to HSAs. The credit would be included with an existing credit for contributions to retirement accounts, and would be limited based on income. Many patients today utilize HSAs to cover chiropractic services.

The full House of Representatives is expected to consider the bills sometime in June. Read more here.

Source: American Chiropractic Association, acatoday.org

Related Posts

  • Oklahaven Awards Sherman College as “Have a Heart” Winner for Supporting ChiropracticOklahaven Awards Sherman College as “Have a Heart” Winner for Supporting Chiropractic
  • Standard Process Introduces Children’s Immune Supplement Just in Time for Back-to-School
  • New York Chiropractic College August 2020 Commencement and Transitions Ceremonies celebrate studentsNew York Chiropractic College August 2020 Commencement and Transitions Ceremonies celebrate students
  • Reports indicate co-managed care popular among older adults with low-back painReports indicate co-managed care popular among older adults with low-back pain
  • Heavenly Acupressure Mat helps aches, painsHeavenly Acupressure Mat helps aches, pains

Filed Under: Chiropractic News, News

Current Issue

Issue 7 cover

Get Exclusive Content! Join our email list

Follow Us

  • Facebook
  • X (Twitter)
  • Instagram
  • LinkedIn
  • YouTube logoYouTube logoYouTube

Compare Subscriptions

Dynamic Chiropractic

The American Chiropractor

8430 Enterprise Circle, Suite 200

Lakewood Ranch, FL 34202

Phone 800-671-9966

CONTACT US »

Privacy Policy | Terms of Service

Copyright © Chiropractic Economics, A Gallagher Company. All Rights Reserved.

SUBSCRIBE TO THE MAGAZINE

Get Chiropractic Economics magazine
delivered to your home or office. Just
fill out our form to request your FREE
subscription for 20 issues a year,
including two annual Buyers Guides.

SUBSCRIBE NOW »

Issue 7 cover