Bill > S148

This bill, the Medicare DMEPOS Competitive Bidding Improvement Act of 2015, aims to strengthen the Medicare program that competitively bids for durable medical equipment, prosthetics, orthotics, and supplies (DMEPOS). Specifically, it mandates that the Secretary of Health and Human Services can only accept bids from entities participating in this program if they meet two key requirements: first, they must be licensed by the state in which they operate for all the items they are bidding on, and second, they must provide a bid surety bond, essentially a financial guarantee, ranging from $50,000 to $100,000 for each area they bid in. The bill also outlines what happens to these bid bonds for both successful bidders who later decline a contract and for those who are unsuccessful in their bids, ensuring the bond is forfeited if a winning bidder backs out of a contract they submitted at or below the median bid price, but returned if they decline a contract above that median price or if they were a losing bidder.