Detailed Instructions: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Problem:SECTION 1. PAYMENTS FOR FUTURE LOSSES IN A HEALTH CARE LIABILITY
ACTION.

(a) In General.--In any health care liability action, brought under
Federal law or in a Federal court, in which the damages awarded to a
claimant for future economic and noneconomic loss combined exceed
$50,000, the claimant shall not be required to receive such damages in
a single, lump-sum payment.
(b) Periodic Payments.--A claimant who is awarded damages described
in subsection (a) shall be entitled to request the court to order that
such damages be paid in whole or in part on a periodic basis. A court
awarding such periodic payments shall attempt to ensure that the amount
of such payments, along with any lump-sum payment, constitute a full
recovery of the claimant's future loss and that the payment schedule is
in the best interests of the claimant.

SEC. 2. NONAPPLICABILITY.

Section 1 shall not apply with respect to any health care liability
action--
(1) for damages arising from a vaccine-related injury or
death to the extent that title XXI of the Public Health Service
Act (42 U.S.C. 300aa-10 et seq.) applies to the action; or
(2) under the Employee Retirement Income Security Act of
1974 (29 U.S.C. 1001 et seq.).

SEC. 3. FINALITY OF JUDGMENT.

Except where specifically authorized by statute, the judgment of a
court awarding periodic payments described in section 1(b) may not, in
the absence of fraud, be reopened at any time to contest, amend, or
modify the schedule or amount of the payments.

SEC. 4. ASSURANCE OF FUTURE PERIODIC PAYMENTS.

A court awarding periodic payments described in section 1(b) shall,
upon request of the claimant to receive the award, require the person
ordered to make the payments to make assurances that satisfy the court
that the payments will be made by--
(1) making a qualified assignment (as described in section
130 of the Internal Revenue Code of 1986) of the periodic
payment liability;
(2) purchasing an annuity contract issued by a company
licensed to do business as an insurance company under the laws
of any State;
(3) purchasing obligations of the United States; or
(4) providing other assurances.

SEC. 5. LUMP-SUM SETTLEMENTS.

This Act shall not be construed to preclude a settlement that
provides for a single, lump-sum payment.

SEC. 6. DEFINITIONS.

In this Act--
(1) the term ''claimant'' means any person who brings a
health care liability action and any person on whose behalf
such an action is brought;
(2) the term ''health benefit plan'' means--
(A) a hospital or medical expense incurred policy
or certificate;
(B) a hospital or medical service plan contract;
(C) a health maintenance subscriber contract; or
(D) a Medicare+Choice plan (offered under part C of
title XVIII of the Social Security Act),
that provides benefits with respect to health care services;
(3) the term ''health care liability action'' means a civil
action against--
(A) a health care provider;
(B) an entity which is obligated to provide or pay
for health benefits under any health benefit plan
(including any person or entity acting under a contract
or arrangement to provide or administer any health
benefit); or
(C) the manufacturer, distributor, supplier,
marketer, promoter, or seller of a medical product,
in which the claimant alleges a claim (including third party
claims, cross claims, counter claims, or contribution claims)
based upon the provision of (or the failure to provide or pay
for) health care services or the use of a medical product;
(4) the term ''health care provider'' means any person
engaged in the delivery of health care services in a State that
is required by the laws or regulations of the State to be
licensed or certified by the State to engage in the delivery of
such services in the State;
(5) the term ''health care services'' means services
eligible for payment under a health benefit plan, including
services related to the delivery or administration of such
services; and
(6) the term ''medical product'' means, with respect to the
allegation of a claimant, a drug (as defined in section
201(g)(1) of the Federal Food, Drug, and Cosmetic Act (21
U.S.C. 321(g)(1)) or a device (as defined in section 201(h) of
the Federal Food, Drug, and Cosmetic Act (21 U.S.C. 321(h))
if--
(A) such drug or device--
(i) was subject to premarket approval under
section 505 or 515 of the Federal Food, Drug,
and Cosmetic Act (21 U.S.C. 355 or 360e) or
licensed under section 351 of the Public Health
Service Act (42 U.S.C. 262) with respect to the
safety of the formulation or performance of the
aspect of such drug or device which is the
subject of the claimant's allegation or the
adequacy of the packaging or labeling of such
drug or device; and
(ii) was approved by the Food and Drug
Administration at the time that the claimant's
claim of action arose; or
(B) the drug or device is generally recognized as
safe and effective under regulations issued by the
Secretary of Health and Human Services under section
201(p) of the Federal Food, Drug, and Cosmetic Act (21
U.S.C. 321(p)),
except that such term shall not include any product that the
claimant can show gained approval for marketing from the Food
and Drug Administration as a result of withheld information,
misrepresentation, or an illegal payment by the manufacturer of
the product.
Solution:
Provides that in a health care liability action brought under Federal law or in Federal court in which damages awarded to a claimant for future economic and noneconomic loss combined exceed $50,000, the claimant shall not be required to receive such damages in a single, lump-sum payment.
Entitles such claimant to request the court to order payment in whole or in part on a periodic basis. Requires a court awarding periodic payments to attempt to ensure that the amount of such payments, along with any lump-sum payment, constitute a full recovery of the claimant's future loss and that the payment schedule is in the best interests of the claimant.
(Sec. 2) Makes such provisions inapplicable to any such action: (1) for damages arising from a vaccine-related injury or death to the extent that provisions of the Public Health Service Act (regarding the National Vaccine Injury Compensation Program) apply; or (2) under the Employee Retirement Income Security Act of 1974.
(Sec. 3) Provides that, except where specifically authorized by statute, the judgment of a court awarding periodic payments may not, in the absence of fraud, be reopened at any time to contest, amend, or modify the schedule or amount of the payments.
(Sec. 4) Directs that a court awarding such periodic payments, upon request of the claimant to receive the award, require the person ordered to make the payments to make assurances that satisfy the court that the payments will be made by: (1) making a qualified assignment of the periodic payment liability; (2) purchasing an annuity contract issued by a company licensed to do business as an insurance company under the laws of any State; (3) purchasing obligations of the United States; or (4) providing other assurances.
(Sec. 5) Specifies that this Act shall not be construed to preclude a settlement that provides for a single, lump-sum payment.