112th Congress > House > Vote 1304

Date: June 07, 2012

Result: 270-146 (Passed)

Clerk session vote number: 361

Vote Subject Matter: Social Welfare / Domestic Social Policy

Sponsor: PAULSEN, Erik (R-MN)

Bill number: HR436

Question: On Passage

Description: Protect Medical Innovation Act of 2012

Bill 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.

Bill titles: To amend the Internal Revenue Code of 1986 to repeal the excise tax on medical devices.

Links for more info on the vote: congress.gov

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