Medicare Advantage and Prescription Drug Accountability Act of 2005

Summary

Medicare Advantage and Prescription Drug Accountability Act of 2005 - Amends title XVIII (Medicare) of the Social Security Act to require the contract with an Medicare Advantage (MA) organization to provide for a minimum loss ratio (aggregate average benefits that are at least a minimum ratio of the aggregate average revenues collected under the contract) and a maximum administrative cost ratio (aggregate average administrative costs that do not exceed a maximum ratio of the aggregate average revenues collected under the contract). Requires each contract with a Medicare+Choice organization to grant the Secretary of Health and Human Services the right to audit and inspect any books and records of the organization for compliance with such ratio and related administrative cost requirements. Applies such requirements to contracts with prescription drug sponsors under Medicare part D (Voluntary Prescription Drug Benefit Program). Prescribes requirements for financial transparency of MA plans. Renders an election to enroll with an MA plan ineffective unless the election form is signed by the individual and specifically acknowledges specified plan features. Applies such requirements to prescription drug plans under Medicare part D. Directs the Secretary to transmit to Congress annual MA accountability and prescription drug accountability reports. Requires periodic audits by the departmental Inspector General of the Secretary's determinations about the acturial equivalency of MA plans. Requires each prescription drug plan sponsor with respect to a prescription drug plan, and each MA organization with respect to an MA-PD plan, to report annually to the Inspector General on drug claims rejections and reversals on appeal. Directs the Secretary to appoint a Medicare prescription drug ombudsman.

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Timeline

1. 20 October 2005

   Introduced

   Referred to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 20 October 2005

   Introduced

   Referred to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

3. 20 October 2005

   Introduced

   Introduced in House

   Source: IntroReferral

4. 20 October 2005

   Introduced

   Introduced in House

   Source: IntroReferral

5. 4 November 2005

   Referred

   Referred to the Subcommittee on Health.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 20 October 2005 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 20 October 2005

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 20 October 2005

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 20 October 2005

  Open at official source

Sponsors

• Sen. Brown, Sherrod [D-OH] · D · Sponsor
• Rep. Dingell, John D. [D-MI-16] · D · Sponsor
• Rep. Rangel, Charles B. [D-NY-19] · D · Sponsor
• Rep. Waxman, Henry A. [D-CA-24] · D · Sponsor
• Rep. Stark, Fortney Pete [D-CA-9] · D · Sponsor
• Rep. Schakowsky, Janice D. [D-IL-9] · D · Sponsor
• · hsif00 · Standing
• · hswm00 · Standing

Related records

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