Seniors Securing Access to Vital and Essential Prescription Drugs Act

To amend title XVIII of the Social Security Act to provide for certain rules regarding the treatment of eligible retirement plans in determining the eligibility of individuals for premium and cost-sharing subsidies under part D of the Medicare program, and for other purposes. 1. Short title This Act may be cited as the Seniors Securing Access to Vital and Essential Prescription Drugs Act 2. Providing for certain rules regarding the treatment of eligible retirement plans in determining the eligibility of individuals for premium and cost-sharing subsidies under part D of the Medicare program (a) In general Section 1860D–14(a)(3) of the Social Security Act ( 42 U.S.C. 1395w–114(a)(3) (1) in subparagraph (A)(iii), by striking subparagraph (D) subparagraph (D)(i) (2) in subparagraph (C)(i), by striking except that support and maintenance furnished in kind shall not be counted as income; and except that— (I) support and maintenance furnished in kind shall not be counted as income; and (II) any distribution or withdrawal from an eligible retirement plan (as defined in subparagraph (B) of section 402(c)(8) ; (3) in subparagraph (D)— (A) by redesignating clauses (i) and (ii) as subclauses (I) and (II), respectively, and moving the margin of each such subclause, as so redesignated, 2 ems to the right; (B) by striking The resources requirement (i) In general The resources requirement ; (C) by striking subject to the life insurance policy exclusion , subject to the exclusions (D) by aligning the margin of the flush sentence at the end with the margin of clause (i), as added by subparagraph (B); and (E) by adding at the end the following: (ii) Application of resource standard with respect to certain beneficiaries In applying the resources requirement of this subparagraph under section 1905(p)(1)(C), such requirement shall be applied without regard to the exclusions provided under subparagraph (G). ; (4) in subparagraph (E), by striking subject to the life insurance policy exclusion , subject to the exclusions (5) in subparagraph (G)— (A) in the subparagraph heading, by striking Life insurance policy exclusion Resource exclusions (B) by striking for purposes of subparagraphs (D) and (E) no part of the value of any life insurance policy shall be taken into account. for purposes of subparagraphs (D)(i) and (E), the following exclusions shall apply: (i) Life insurance policy No part of the value of any life insurance policy shall be taken into account. (ii) Eligible retirement plan No balance in any eligible retirement plan (as described in subparagraph (C)(i)(II)) shall be taken into account. . (b) Conforming amendment Section 1905(p)(1)(C) of the Social Security Act ( 42 U.S.C. 1396d(p)(1)(C) life insurance policy exclusion exclusions (c) Effective date The amendments made by subsection (a) shall apply with respect to plan years beginning on or after January 1, 2025.

Summary: Seniors Securing Access to Vital and Essential Prescription Drugs Act This bill alters certain financial standards that are used to determine eligibility for the low-income subsidy program under the Medicare prescription drug benefit. Specifically, the bill excludes certain retirement plans from income and resource determinations.