S. 359 — Introduced in Senate

II 114th CONGRESS 1st Session S. 359 IN THE SENATE OF THE UNITED STATES February 4, 2015Mr. Cassidy (for himself and Mr. Rubio) introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions A BILL To amend title I of the Patient Protection and Affordable Care Act to impose restrictions on the risk corridor program, and for other purposes. 1. Short title This Act may be cited as the Taxpayer Bailout Protection Act. 2. Restrictions on PPACA risk corridor program Section 1342(b) of the Patient Protection and Affordable Care Act (42 U.S.C. 18062(b)) is amended— (1) in paragraph (1), by striking The Secretary and inserting Subject to paragraph (3), the Secretary; and (2) by adding at the end the following new paragraph: (3) Safeguard to protect taxpayers (A) In general The Secretary shall ensure that the amount of payments to plans under paragraph (1) for a plan year beginning during calendar year 2014, 2015, or 2016 does not exceed the amount of payments to the Secretary under paragraph (2) for such plan year. (B) Adjustment to protect taxpayers The Secretary shall proportionately decrease the amount of payments to plans under paragraph (1) in order to ensure that the requirement of subparagraph (A) is satisfied each year. .