Bill Summary & Status for the 107th Congress

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S.1263
Sponsor: Sen Smith, Bob [NH] (introduced 7/27/2001)
Latest Major Action: 7/27/2001 Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.
Title: A bill to amend title XVIII of the Social Security Act to establish a voluntary Medicare Prescription Drug Plan under which eligible medicare beneficiaries may elect to receive coverage under the Rx Option for outpatient prescription drugs and a combined deductible.
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TITLE(S):  (italics indicate a title for a portion of a bill)
STATUS: (color indicates Senate actions)
7/27/2001:
Read twice and referred to the Committee on Finance.
COMMITTEE(S):
RELATED BILL DETAILS:

***NONE***

AMENDMENT(S):

***NONE***

COSPONSORS(1), ALPHABETICAL [followed by Cosponsors withdrawn]:     (Sort: by date)

Sen Allard, Wayne - 7/27/2001 [CO]

SUMMARY AS OF:
7/27/2001--Introduced.

Voluntary Medicare Prescription Drug Plan Act of 2001 - Amends title XVIII (Medicare) of the Social Security Act to add a new part D (Voluntary Medicare Prescription Drug Coverage) under which a Medicare Prescription Drug plan eligible individual, not enrolled in a Medicare+Choice plan under Medicare part C (Medicare+Choice), may enroll in the Rx Option coverage for outpatient prescription drugs offered only through private contractors, and subject to payment of a combined deductible ($675) in lieu of the deductibles applied under Medicare parts A (Hospital Insurance) and B (Supplementary Medical Insurance).

Sets the outpatient prescription drug benefit at 50 percent of the lesser of: (1) the cost of such drugs for a year; or (2) $5,000.

Establishes special rules with respect to Medicare supplemental health insurance (Medigap) for individuals enrolled in the Rx Option.