Did you know that, unlike many medical devices that are sold retail, hearing aids are exempt from the medical device tax? This saves the typical patient from $100 to $350 when they purchase hearing technology.
Here is an excerpt from that 2400 page law which was passed in March:
Subchapter E – Medical Devices
SEC. 4191. MEDICAL DEVICES.
IN GENERAL. – There is hereby imposed on the sale of any taxable medical device by the manufacturer, producer, or importer a tax equal to 2.9 percent of the price for which so sold.
TAXABLE MEDICAL DEVICE. – For purposes of this section – IN GENERAL. – The term ‘taxable medical device’ means any device (as defined in section 201(h) of the Federal Food, Drug, and Cosmetic Act) intended for humans.
(2) EXEMPTIONS. – Such term shall not include – (A) devices classified in class I under section 513 of such Act, eyeglasses, contact lenses, hearing aids, and any other medical device determined by the Secretary to be of a type which is generally purchased by the general public at retail for “individual use.” and by inserting after the item relating to subchapter D in the table of subchapters for such chapter the following new item…