The Future of the Medical Device Tax

12/12/2016

There is a prediction among healthcare experts that has the potential to overwhelmingly impact the future of healthcare. Experts are forecasting that President-elect Donald Trump is going to repeal the Medical Device Tax, as stated in the article, “Under Trump, Congress Likely to Pull Plug on Medical Device Tax” by Reuters. Currently, the article suggests that due to Trump’s business leaning practices, and stance on lowering taxes, he will eliminate the Medical Device Tax that President Obama enacted in 2010 as part of Obamacare. There has been a hold on this tax, which has let medical device business owners hire more employees, and keep increase the workforce in America. This aligns with Trump’s larger goals of keeping a health workforce in America, and not one overseas.

Trump’s newly chosen Republican administration is likely going to try to repeal the Affordable Care Act, and to replace it with policy they deem as structurally sound for financial growth in America. Nick Carey and Susan Cornwell of Reuters write that, “Senate Republican Leader Mitch McConnell said repealing the ACA, will be the first order of business in the Senate when it convenes in January.” There is a growing trend that the Healthcare Industry is costing more money each year to run. Republicans hope that they can cut taxes in an effort  to create more jobs, and stop the rising costs of healthcare.

Although the Medical Device Tax is only on hold, most of those in the healthcare industry hope that it will be completely repealed under Trump’s Administration. Until the President-elect takes office, the future of the healthcare industry waits along with medical professionals.