Section 1 Short title
This Act may be cited as the “Taxpayer Bailout Protection Act”.
Taxpayer Bailout Protection Act
A BILL
To amend title I of the Patient Protection and Affordable Care Act to impose restrictions on the risk corridor program.
Sec. 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—
in paragraph (1), by striking “The Secretary” and inserting “Subject to paragraph (3), the Secretary”; and
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.”