Obamacare Will Kill Innovation, and People, Too

February 17, 2012
By 7 comments

Do you remember hearing about the tax on medical device manufacturing included in Obamacare? It’s back in the news. Michelle Malkin has the scoop.

In typical Obama-transparent fashion, the Internal Revenue Service quietly released a complex thicket of medical device tax implementation rules in a Friday document dumpearlier this month. Barring congressional intervention, the medical device tax will go into full effect in 2013.

Cook Medical, which manufactures products for everything from endovascular therapy, critical care medicine and general surgery, to diagnostic and interventional procedures, to bioengineered tissue replacement and regeneration, gastroenterology and endoscopy procedures, urology, and obstetrics and gynecology, has called for the levy’s repeal. Cook Group chairman Stephen Ferguson noted the tax burden amounted to a whopping 55 percent of its profits.

“For a company like ours, which pays 35 percent of our net earnings in federal corporate taxes and another 4 to 5 percent in state and local corporate taxes, the excise tax translates to another payment that will consume 15 percent more of our earnings,” he estimated. “This creates tremendous pressure for us to move manufacturing to Europe and other parts of the world.” According to the trade publication Mass Device, the company has already canceled plans to build a new factory in the U.S. because of the Obamacare tax burden. (Read More)

So much for insourcing jobs.

The news doesn’t get much better from there. I’ve been so behind on everything this week I haven’t been reading the Wall Street Journal every morning like I normally do. Thanks to Don Surber for pointing this piece out on the Death Panels.

Offended by President Obama’s decision to force health insurers to pay for contraception and surgical sterilization? It gets worse: In the future, thanks to ObamaCare, the government will issue such health edicts on a routine basis—and largely insulated from public view. This goes beyond contraception to cancer screenings, the use of common drugs like aspirin, and much more.

Under ObamaCare, a single committee—the United States Preventative Services Task Force—is empowered to evaluate preventive health services and decide which will be covered by health-insurance plans.

The task force already rates services with letter grades of “A” through “D” (or “I,” if it has “insufficient evidence” to make a rating). But under ObamaCare, services rated “A” or “B”—such as colon cancer screening for adults aged 50-75—must be covered by health plans in full, without any co-pays. Many services that get “Cs” and “Ds”—such as screening for ovarian or testicular cancer—could get nixed from coverage entirely.

That’s because mandating coverage for all the “A” and “B” services will be very costly. In 2000, the Congressional Budget Office estimated that the marginal cost of similar state insurance mandates was 5%-10% of total claims. Other estimates put the cost of mandates as high as 20% of premiums.

Health plans will inevitably choose to drop coverage for many services that don’t get a passing grade from the task force and therefore aren’t mandated. Insurance companies will need to conserve their premium money, which the government regulates, in order to spend it subsidizing those services that the task force requires them to cover in full. (Read More)

Okay, they don’t call them death panels, but that’s what they are. If you get sick once all of this is fully implemented, you better hope and pray it’s with a disease that the task force finds worthy of treatment.

Oh, and again, I remind you that the British Prime Minister is working like heck to privatize health care because they’ve learned the hard way what happens when the government takes control. Yet here we are, following in their footsteps on the path to destruction.

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7 Responses to Obamacare Will Kill Innovation, and People, Too

  1. Mark in Germany on February 18, 2012 at 5:50 am

    I know I sound like a broken record, but since I live in Socialist Germany, I can give actual life experience examples of what is coming to America after the implementation of obummacare.

    You cannot walk into a store, any store, and just buy medicine, like aspirin, cough medicine, cold and flu relief meds…nothing. It is illegal. You MUST get a perscription first from your “house doctor” after he determines you need medication. So if you got a nagging headache, you got to get time-off from work, make an appointment with the doc, wait in line for an hour or so, see the doc, and hope he is sypathetic to your needs.

    By the way, you also have to pay 10 Euros, ($14~) for government burocracy fees every three months you visit the doc. This isn’t for the docs practice, but goes straight to a govt agency in charge of medical oversight. They make sure docs only spend so much money per patient per capita.

    Germany is touted to have europes best system. Does this sound like the medical plan for you?

    Like or Dislike: Thumb up 2 Thumb down 0

    • Lonely Conservative on February 18, 2012 at 9:57 am

      You can’t buy Advil, Tylenol or Tums at the store?

      Like or Dislike: Thumb up 1 Thumb down 0

      • Mark in Germany on February 18, 2012 at 12:56 pm

        Nope! You have to go to the “Apothecy”, (the apothicary or pharmacist) shop with your doc’s prescription. I didn’t mention it earlier, but along with the high medical insurance you are required to buy here, you still have to pay for the medicine. A box of 20 ind. wrapped 200mg aspirin (not tylenol) will cost you around $8.00. Yep, we got FREE health care here!

        As a retired USAR, I make a pilgrimage to one of the military posts here every three months or so and stock up as I need stuff, otherwise it would be rough here.

        Like or Dislike: Thumb up 2 Thumb down 0

        • Lonely Conservative on February 18, 2012 at 1:13 pm

          And on top of all that, you get to bail out Greece. Lucky you!

          Like or Dislike: Thumb up 1 Thumb down 1

  2. Joseph Hall on February 18, 2012 at 4:12 pm

    ObamaCare will eventually lead to the German form of health care in many areas, especially medications!

    Like or Dislike: Thumb up 1 Thumb down 0

  3. liberalmann on February 18, 2012 at 8:21 pm

    Hidden due to low comment rating. Click here to see.

    Poorly-rated. Like or Dislike: Thumb up 0 Thumb down 8

    • Mark in Germany on February 19, 2012 at 4:12 am

      Again, you claim we lie. Then it should be easy for you to print the “truth” for us to see.

      BTW, how long have you lived in Germany? Where? Do you have a job here? Since I am lying, you must have better hands on experience than me. Again can you please point out where I lied and how?

      I’m waiting…

      Like or Dislike: Thumb up 2 Thumb down 0

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