Whenever we get new information that may potentially affect our patients in one form or another, we want to do our best to pass that knowledge onto you.
As you may or may not have heard, there will be a new medical device tax that will take effect on January 1st, 2013. The tax, which is part of the new Affordable Health Care Act, will enact at 2.3% excise tax on medical devices.
So what does this mean for you? Frankly, we’re not 100% sure yet. The dental industry is waiting for the specific regulations to be released by the IRS. In a recent article (http://www.ada.org/news/7940.aspx) posted by the ADA however, it is clear that dentists will most likely be impacted.
The proposed rule appears to indicate that dental equipment, material and supply purchased by dentist for use in the office will be subject to the tax, such as restorative materials, hand instruments, surgical instruments and endodontic filling materials.
As a family dental practice, we want to ensure that we can offer the best preventative and acute care for your entire family. We understand that this is also means keeping care as affordable as possible and accepting insurance to help you cover the cost of services. We’re keeping tabs on this new legislation and as soon as we have more definitive details on what items will see the tax increase, we will be sure to let you know.