Healthcare costs are the largest driver to our national debt, and as you can see above, workers have not enjoyed traditional wage increases due to the rapid rate of healthcare growth in this country. The issue of the cost is a large problem businesses will have to deal with, especially with experts predicting insurance premiums to continue to rise. Another problem soon facing the country and businesses will be the compliance requirements created under the healthcare reform legislation.
This week’s episode focused on the 2.3 percent excise tax created under the Affordable Care Act. This tax will impact device manufacturers top line and have a negative impact on many organizations in this industry. My guest was Tom Novelli, Vice President of Government Affairs with the Medical Device Manufacturers Association of America. Tom talked about the impact this tax will have on their member companies and what this uncertainty means for the economy.
My co-host for the week was once again Rick Johnson who provided more legal analysis. Specifically, I asked him to analyze section 1313 of the statute which I believed to be troublesome. Tune in for his analysis of this section, his reaction to the interview and how this tax and others might impact the business community. Rick also provides a compelling case dispelling the myth that the health plan passed in Massachusetts under Governor Romney is very similar to the Affordable Care Act or Obamacare.
To stream the podcast click here.