Excise tax 2.3%
Excise tax 2.3%
What will everyone be doing with the new Obamacare tax that will become law in 2013?
Re: Excise tax 2.3%
I raised fees 3% a couple of months ago and I'll probably raise them another 2-3% shortly. My accountant is less than optimistic about this whole ordeal.
Re: Excise tax 2.3%
I wonder who has the burden to collect the tax? Do we as dentists have to charge the patient?
Re: Excise tax 2.3%
No, it's not a sales tax. Supply companies will collect it, and pass it along to you in terms of higher supply costs. I talked to my rep yesterday and he said that the anesthetic manufacturers told everyone to expect a 10% increase in anesthetics. So, though you won't pay the tax directly, you'll realize higher costs of supplies. Same with labs. Lab fees will go up though you won't directly be responsible for remitting the tax.
Re: Excise tax 2.3%
Gee, that is nice. I wonder if insurance companies will pay us more..........
Elections always have consequences
Guess all we can do is raise our fees and pass this on to the patients.
Elections always have consequences
Guess all we can do is raise our fees and pass this on to the patients.
Re: Excise tax 2.3%
Yes, I believe you are right. I would almost welcome a separate line item tax. That would never happen. It would be much easier to explain to patients that the additional charge on their statement is a tax as opposed to simply raising fees and attempting to explain it. I've toyed with the idea of doing that. Simply add a 2.3% tax to all procedures, like sales tax when an item is purchased at retail.
It would be so much simpler.
It would be so much simpler.