How will the Inflation Reduction Act (IRA) impact the lives and wallets of doctors and health system executives? Medical Economics asked Agili’s Michael Joyce for his insights. Michael discusses the financial planning and tax planning implications of the IRA on physicians and other medical professionals.
Michael shares his views on how the following elements of the IRA will impact physicians and healthcare professionals both directly and indirectly:
- Corporate minimum tax
- Tax credits for electric vehicles and home upgrades
- Carried interest loophole
- $2000 cap on Medicare beneficiaries’ out-of-pocket prescription expenditures
- Extension of Affordable Care Act health insurance premium assistance
- IRS enforcement