If you are considering cosmetic surgery, you may want to hurry as the costs are about to increase by 5%. The new health care bill unveiled by the senate last week includes a 5% tax on all cosmetic procedures and surgeries. This is an effort to help raise the funds required to extend health insurance to uncovered Americans.
Although I am in agreement that more money will need to become available if universal health care is to become a reality (a matter for another discussion), I am not convinced that this will have the desired effect.
I am concerned that there will be significant negative effects from such a tax.
There is already a cosmetic surgery tax in New Jersey, they have seen a significant decline in business as a result.
- Many of these patients simply cross state lines to New York and other surrounding areas to avoid the tax. Hopefully, we don’t find an increase in travel out of the United States to avoid these taxes. This could lead to dangerous consequences
- Many practices have been hit hard by the down economy and this could be a “third strike” that could force many out of business.
I am certainly happy to do my part and feel extremely lucky to be in the profession that I am in. However, this tax seems to target moms wanting their bodies back and baby boomers unfairly. My 2 cents.