H.R.436 - Protect Medical Innovation Act of 2011

To amend the Internal Revenue Code of 1986 to repeal the excise tax on medical devices. view all titles (4)

All Bill Titles

  • Official: To amend the Internal Revenue Code of 1986 to repeal the excise tax on medical devices. as introduced.
  • Short: Protect Medical Innovation Act of 2011 as introduced.
  • Short: Protect Medical Innovation Act of 2012 as reported to house.
  • Short: Health Care Cost Reduction Act of 2012 as passed house.

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Introduced
 
House
Passed
 
Senate
Passes
 
President
Signs
 

 
01/25/11
 
06/07/12
 
 
 
 
 

Sponsor

Representative

Erik Paulsen

R-MN

View Co-Sponsors (240)
 

Latest Vote

Result: Passed - June 07, 2012

Roll call number 361 in the House

Question: On Passage: H R 436 Protect Medical Innovation Act of 2012

 

Official Summary

Health Care Cost Reduction Act of 2012 - Amends the Internal Revenue Code to: (1) repeal the excise tax on medical devices; (2) repeal restrictions on payments from health savings accounts, Archer medical savings accounts, and health flexible spending and reimbursement arrangements to only

Official Summary

Health Care Cost Reduction Act of 2012 - Amends the Internal Revenue Code to:
(1) repeal the excise tax on medical devices;
(2) repeal restrictions on payments from health savings accounts, Archer medical savings accounts, and health flexible spending and reimbursement arrangements to only prescription drugs or insulin (thus allowing distributions from such accounts for over-the-counter drugs);
(3) allow amounts in a flexible spending arrangement (FSA), up to $500, that are not spent for medical care to be distributed to the FSA participant as taxable income after the close of a plan year (currently, such unspent amounts are forfeited); and
(4) repeal the limitation on the recapture of advance payments of the tax credit for health insurance premium assistance that exceed the allowable credit amount for a taxable year.

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Organizations Supporting H.R.436

  • American Association of Orthodontists
  • Boston Scientific
  • American Action Forum
  • National Association of Manufacturers
  • Virginia Dental Association
  • Business Roundtable
  • ...and 151 more. See all.

Organizations Opposing H.R.436

  • None via MapLight at this time.


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