Document ID: chunk:federal_register_of_legislation:C2017A00071:section:3
Version: federal_register_of_legislation:C2017A00071
Segment Type: section
Provision Reference: s 3
Character Range: 2227–3238

3  Simplified outline of this Act

         • This Act establishes the Medicare Guarantee Fund, which consists of:
             (a) the Medicare Guarantee Fund (Treasury) Special Account; and
             (b) the Medicare Guarantee Fund (Health) Special Account.
         • The purpose of the Medicare Guarantee Fund (Treasury) Special Account is to ensure that amounts are available for transfer to the Medicare Guarantee Fund (Health) Special Account.
         • The purposes of the Medicare Guarantee Fund (Health) Special Account are:
             (a) to make payments of Medicare benefits; and
             (b) to make payments under the Pharmaceutical Benefits Scheme.
         • Amounts will be credited to the Medicare Guarantee Fund (Treasury) Special Account and transferred to the Medicare Guarantee Fund (Health) Special Account.
         • The transferred amounts will cover:
             (a) payments of Medicare benefits; and
             (b) payments under the Pharmaceutical Benefits Scheme.