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S. 1198: Medicare Fair Share Act of 2013

Title: Medicare Fair Share Act of 2013

Introduced: Jun 20, 2013 (113th Congress)

Sponsor: Sen. Claire McCaskill [D-MO]

Status: Referred to Committee - Read twice and referred to the Committee on Finance.

Summary: Medicare Fair Share Act of 2013 - Amends part B (Supplemental Medical Insurance) of title XVIII (Medicare) of the Social Security Act with respect to adjustments to Medicare parts B and D (Voluntary Prescription Drug Benefit Program) premiums for high income beneficiaries to reduce from $80,000 to $50,000 the threshold amount for 2015 and subsequent years for determining the monthly amount of the premium subsidy (for high-income beneficiaries) applicable to Medicare parts B and D premiums. Requires reduction of the monthly amount of the Medicare parts B and D premium subsidies (and corresponding increase in the monthly premium amount) for individuals whose modified adjusted gross income exceeds the threshold amount by specified applicable percentages for modified adjusted gross incomes in certain ranges starting at $50,000 (40%) and ending at $196,000 (90%). Extends the temporary adjustment to income thresholds from December 31, 2019 through December 31, 2023.

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Cosponsors

Total: 1 [1R]