H.R.1199 - Medicare Rx Drug Benefit and Discount Act of 2003108th Congress (2003-2004)
|Sponsor:||Rep. Rangel, Charles B. [D-NY-15] (Introduced 03/11/2003)|
|Committees:||House - Energy and Commerce; Ways and Means|
|Latest Action:||House - 03/24/2003 Referred to the Subcommittee on Health. (All Actions)|
This bill has the status Introduced
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Summary: H.R.1199 — 108th Congress (2003-2004)All Information (Except Text)
Medicare Rx Drug Benefit and Discount Act of 2003 - Amends title XVIII (Medicare) of the Social Security Act (SSA) to add a new part D (Voluntary Prescription Drug Benefit Program) under which each individual who is entitled to benefits under Medicare part A (Hospital Insurance) or eligible to enroll under Medicare part B (Supplemental Medical Insurance) is entitled to obtain qualified prescription drug coverage.
Introduced in House (03/11/2003)
Outlines standard coverage benefit packages. Includes for the standard package a monthly premium of $25, an annual deductible of $100, a coinsurance of 20 percent and an annual out-of-pocket spending limit of $2,000. Directs the Secretary to negotiate fair prices with pharmaceutical manufacturers.
Amends part C (Medicare+Choice) of SSA title XVIII to provide for the availability of prescription medicine benefits under the Medicare+Choice program.
Provides for accelerated generic drug competition under the Federal Food, Drug, and Cosmetic Act.