Company: FTII
Filing Date: 2025-02-14
Form Type: S-4
Source: 0001493152-25-006997
Chunk: 153

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-02-14
Form: S-4
Chunk 153
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 2020, signed into law December 20, 2019, fully repealed the ACA’s “Cadillac Tax” on certain high-cost employer-sponsored
insurance plans (for tax years beginning after December 31, 2019), the annual fee imposed on certain health insurance providers based
on market share (for calendar year 2021), and the medical device excise tax on non-exempt medical devices. Under the Inflation Reduction
Act of 2022 (IRA), this coverage gap discount program will be eliminated beginning January 1, 2025. Manufacturers will then be required
to pay 10% of the negotiated price of brands, biologics, and biosimilar products when Medicare Part D beneficiaries are in the initial
coverage phase, and 20% of the negotiated price during the catastrophic phase of Medicare Part D coverage. Additionally, the Further Consolidated
Appropriations Act of 2020, signed into law December 20, 2019, fully repealed the ACA’s “Cadillac Tax” on certain high-
cost employer-sponsored insurance plans (for tax years beginning after December 31, 2019), the annual fee imposed on certain health insurance
providers based on market share (for calendar year 2021), and the medical device excise tax on non-exempt medical devices. There have
also been numerous judicial challenges to the ACA, and in June 2021, the Supreme Court dismissed a lawsuit challenging the constitutionality
of certain aspects of the ACA without ruling on the merits of the constitutionality arguments.

In addition, other legislative changes
have been proposed and adopted since the ACA was enacted. These changes include the Budget Control Act of 2011, which, among other things,
led to aggregate reductions of Medicare payments to providers of up to 2% per fiscal year that started in 2013 and, due to subsequent
statutory amendments, will remain in effect into 2031 unless additional Congressional action is taken, with the exception of a temporary
suspension from May 1, 2020 through July 1, 2022 due to the COVID-19 pandemic. Following the end of the temporary suspension, the law
provided for 1% Medicare sequestration in the second quarter of 2022, with the full 2% sequestration going into effect thereafter until
2031. To offset the temporary suspension during the COVID-19 pandemic, in 2030, the sequestration will be 2.25% for the first