December 19, 2012
OraSure to Pay New Federal Tax on Medical Devices
The makers of the first rapid over-the-counter test for HIV are subject to a 2.3 percent excise tax on gross sales of some of its products starting in 2013, The Morning Call reports. To help pay for the expansion of health care coverage to 30 million previously uninsured people, the Affordable Care Act (a.k.a. the health care reform law) imposes this tax on many medical device manufacturers, such as OraSure Technologies, which manufactures the OraQuick In-Home HIV Test. Through 2022, the federal government estimates raising $29 billion in revenues from this tax.
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