REED VOTES IN FAVOR OF HEALTH CARE COST REDUCTION ACT; Repeal of medical device tax saves manufacturing jobs
Calling it an effort to save manufacturing jobs, Congressman Tom Reed voted in favor of the Health Care Cost Reduction Act today. The bill will repeal a 2.3 percent tax on medical devices including defibrillators, pacemakers and prosthetic limbs which is scheduled to take effect on Jan.1, 2013. Reed is one of a bipartisan group of co-sponsors of the legislation.
“Tax increases on manufacturers cost manufacturing jobs,” Reed said. “At the same time, we are trying to control health care costs. It makes no sense to add a tax that will raise the cost of many medical devices.” The medical device tax is one of the many tax increases set to take effect in 2013 as part of the Patient Affordable Care Act popularly known as Obamacare.
According to the Washington Post, a hip and knee replacement manufacturer will cut 1,000 jobs due to the impact of the tax. “Obamacare does little to protect patients and is making health care more expensive,” Reed said. “Health care premiums continue to rise at a rate much higher than inflation and jobs are being lost.”
“Legislatively, we need to continue to carry forward the good patient-centered insurance reforms in the law,” Reed continued. “Requiring coverage for pre-existing conditions, allowing children up to age 26 to be carried on a parent’s policy and covering preventive health care services like mammograms for women are examples of good reforms. Obamacare treats health insurance symptoms but fails to treat the true problem which is the disease of rising health care costs.”
The bill passed the House and now moves on for consideration by the Senate.