standardized bid amount
Defined in 1 dictionary — U.S. Code
United States Code
42 U.S.C. § 1395W — in this section (7 versions over time)
For purposes of this subsection, the term "standardized bid amount" means the following:
(A) Prescription drug plans
(i) Basic coverage
In the case of a prescription drug plan that provides basic prescription drug coverage, the PDP approved bid (as defined in paragraph (6)).
(ii) Supplemental coverage
In the case of a prescription drug plan that provides supplemental prescription drug coverage, the portion of the PDP approved bid that is attributable to basic prescription drug coverage.
(B) MA–PD plans
In the case of an MA–PD plan, the portion of the accepted bid amount that is attributable to basic prescription drug coverage.