Seniors Securing Access to Vital and Essential Prescription Drugs Act

Bill: 118-hr-2893
Sponsor: full_name: Rep. Lee, Susie [D-NV-3]
Introduced: 2023-04-26
Policy area: Health
Subjects: Employee benefits and pensions

Health care costs and insurance

Medicare

Prescription drugs
Latest action: action_date: 2024-12-17
text: Referred to the Subcommittee on Health.

Summaries:
action_date: 2023-04-26
action_desc: Introduced in House
text: <p><b>Seniors Securing Access to Vital and Essential Prescription Drugs Act</b></p> <p>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.</p>

tv_txt: I 118th CONGRESS 1st Session H. R. 2893 IN THE HOUSE OF REPRESENTATIVES April 26, 2023 Mrs. Lee of Nevada (for herself and Mr. Fitzpatrick ) introduced the following bill; which was 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 A BILL 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) ) is amended— (1) in subparagraph (A)(iii), by striking subparagraph (D) and inserting 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 and inserting 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) of the Internal Revenue Code of 1986, but excluding any defined benefit plan described in clause (iv) or (v) of such subparagraph and any qualified trust (as defined in subparagraph (A) of such section) which is part of such a defined benefit plan) shall not be counted as income; and ; (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 and inserting the following: (i) In general The resources requirement ; (C) by striking subject to the life insurance policy exclusion and inserting , 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 and inserting , subject to the exclusions ; and (5) in subparagraph (G)— (A) in the subparagraph heading, by striking Life insurance policy exclusion and inserting Resource exclusions ; and (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. and inserting 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) ) by striking life insurance policy exclusion and inserting exclusions . (c) Effective date The amendments made by subsection (a) shall apply with respect to plan years beginning on or after January 1, 2025.