Summary
Medicare Prescription Drug Affordability Act of 2005 - Amends title XVIII (Medicare) of the Social Security Act to revise part D (Voluntary Prescription Drug Benefit Program) as added by the Medicare Prescription Drug, Improvement, and Modernization Act of 2003, to provide for: (1) no premium; (2) no deductible; (3) coinsurance at a rate of 10%; (4) a $1,500 annual limit on out-of-pocket spending on covered drugs; and (5) reduced cost-sharing for lower-income individuals.
Revises the Medigap program and the membership and duties of the Medicare payment advisory commission.
Pharmaceutical Market Access Act of 2005 - Amends the Federal Food, Drug and Cosmetic Act to: (1) repeal certain sections of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 relating to importation of prescription drugs from Canada; and (2) restore previous law, amended to direct the Secretary of Health and Human Services to allow qualifying individuals (in addition to pharmacists and wholesalers) to import covered products.
Repeals the mandate that the Secretary require a foreign seller to specify the original source of the product and the amount of each product lot originally received.
Amends requirements for the testing of imported covered products.
Classifies prescription drugs as misbranded if they do not incorporate specified counterfeit-resistant technologies in packaging.
Establishes a permanent bipartisan Quality Control and Cost Containment Blue Ribbon Task Force.
Repeals the Comparative Cost Adjustment Program and prohibits the application of law in a manner that prevents a Medicare beneficiary from continuing to obtain benefits under a traditional fee-for-service Medicare program.
Amends SSA title XVIII to repeal the Medicare Advantage Regional Plan Stabilization Fund.
Repeals Health Savings Accounts.
Provides for application of risk adjustment reflecting characteristics for the entire Medicare population.
Directs the Secretary to make a specified phased-in adjustment of payment rates to Medicare+Choice payment organizations.
Repeals the Medicare expenditure cap.
Provides for continuous open enrollment in Medicare Advantage Plans.
Lifecycle of the Bill
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