NORTH BAY -- As part of the federal health care overhaul bill passed last year in Washington, medical device makers will have a new tax imposed on them that is forecast to generate roughly $20 billion in new government revenue.
The 2.3 percent excise tax, expected to be implemented at the start of 2013, is already facing fierce opposition from much of the industry.
And, according to a recent economic outlook report prepared for the Sonoma County Economic Development Board by Moody’s Analytics, the tax could have broad impact on both a local and national scale.
Some provisions of Patient Protection and Affordable Care Act may benefit medical device makers, as a broader mix of patients become insured and thus eligible for medical devices, such as heart stents and pacemakers, according to Moody’s.
“The increased number of insured households will increase the pool of possible recipients of medical devices designed and manufactured in the county,” the report, prepared in June, said.