Bill
Bill > HR6583
US HR6583
US HR6583To amend title XVIII of the Social Security Act to establish a risk corridor program for Medicare Advantage plans during the COVID-19 emergency, and for other purposes.
summary
Introduced
04/21/2020
04/21/2020
In Committee
04/21/2020
04/21/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To amend title XVIII of the Social Security Act to establish a risk corridor program for Medicare Advantage plans during the COVID-19 emergency, and for other purposes. This bill requires the Centers for Medicare & Medicaid Services to establish a risk corridor program for Medicare Advantage (MA) plans during the public health emergency declared on January 31, 2020, relating to COVID-19 (i.e., coronavirus disease 2019), in which MA payments are based on the ratio of the plan's allowable costs to its aggregate premiums.
AI Summary
This bill requires the Centers for Medicare & Medicaid Services to establish a risk corridor program for Medicare Advantage (MA) plans during the COVID-19 public health emergency. The program would make payments to MA plans based on the ratio of the plan's allowable costs (incurred costs for original Medicare benefits, excluding administrative costs) to its aggregate premiums. If a plan's allowable costs exceed 105% of its target amount (total payments for original Medicare benefits, minus administrative costs), the government will pay the plan 75% of the excess. This is intended to provide financial support to MA plans during the COVID-19 crisis.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, 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. (on 04/21/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/6583/all-info |
| BillText | https://www.congress.gov/116/bills/hr6583/BILLS-116hr6583ih.pdf |
| Bill | https://www.congress.gov/116/bills/hr6583/BILLS-116hr6583ih.pdf.pdf |
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