S.2414 - Reforming an Entitlement through Premium Adjustments based on Income Resources (REPAIR) Act of 2007110th Congress (2007-2008)
|Sponsor:||Sen. Ensign, John [R-NV] (Introduced 12/05/2007)|
|Committees:||Senate - Finance|
|Latest Action:||12/05/2007 Read twice and referred to the Committee on Finance. (All Actions)|
This bill has the status Introduced
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Summary: S.2414 — 110th Congress (2007-2008)All Bill Information (Except Text)
Introduced in Senate (12/05/2007)
Reforming an Entitlement through Premium Adjustments based on Income Resources (REPAIR) Act of 2007 - Amends part D (Voluntary Prescription Drug Benefit Program) of title XVIII (Medicare) of the Social Security Act to require an income-related reduction in the part D premium subsidy.
Declares that, in the case of an individual whose modified adjusted gross income exceeds a certain applicable threshold amount for a month after December 2008, the monthly amount of the part D premium subsidy shall be reduced (and the monthly beneficiary premium shall be increased) by the monthly adjustment amount determined according to a specified formula.