42 USC 1395w-116 - Medicare Prescription Drug Account in the Federal Supplementary Medical Insurance Trust Fund

U.S Code last checked for updates: May 17, 2024

§ 1395w–116.

Medicare Prescription Drug Account in the Federal Supplementary Medical Insurance Trust Fund

(a)

Establishment and operation of Account

(1)

Establishment

(2)

Funding

(3)

Separate from rest of Trust Fund

(b)

Payments from Account

(1)

In general

The Managing Trustee shall pay from time to time from the Account such amounts as the Secretary certifies are necessary to make payments to operate the program under this part, including—

(A)

payments under section 1395w–114 of this title (relating to low-income subsidy payments);

(B)

payments under section 1395w–115 of this title (relating to subsidy payments and payments for fallback plans);

(C)

payments to sponsors of qualified retiree prescription drug plans under section 1395w–132(a) of this title;

(D)

payments with respect to administrative expenses under this part in accordance with section 401(g) of this title; and

(E)

payments under section 1395w–114 of this title (relating to selected drug subsidy payments).

(2)

Transfers to Medicaid account for increased administrative costs

(3)

Payments of premiums withheld

(4)

Treatment in relation to part B premium

(c)

Deposits into Account

(1)

Low-income transfer

(2)

Amounts withheld

(3)

Appropriations to cover Government contributions

(4)

Initial funding and reserve

(5)

Transfer of any remaining balance from Transitional Assistance Account

(Aug. 14, 1935, ch. 531, title XVIII, § 1860D–16, as added Pub. L. 108–173, title I, § 101(a)(2), Dec. 8, 2003, 117 Stat. 2120; amended Pub. L. 117–169, title I, § 11201(c)(3), Aug. 16, 2022, 136 Stat. 1888.)

cite as: 42 USC 1395w-116