Plan Approval. The Administrator would review the submitted information for purposes of conducting negotiations with the plan. The Administrator would approve the premium only if it accurately reflected the actuarial value of the benefits and the 73% average subsidy provided for under the new Section 1860D-8. The Administrator would apply actuarial principles to approval of a premium in a manner similar to that used for establishing the monthly Part B premium. These requirements would not apply to private fee-for-service plans.
Appears in 4 contracts
Samples: Medicare Prescription Drug, Improvement, and Modernization Act of 2003, Medicare Prescription Drug, Improvement, and Modernization Act of 2003, Medicare Prescription Drug, Improvement, and Modernization Act of 2003
