Medicare Rx Drug Benefit and Discount Act of 2003

Summary

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. 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.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 11 March 2003

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• Introduced in House (PDF)

  Introduced in House · EN · 11 March 2003

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• Introduced in House

  summary · EN · 11 March 2003

  Open at official source

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