standardized bid amount

Defined in 1 place of the United States Code.

For purposes of this subsection, the term “standardized bid amount” means the following:

(A)

(i) In the case of a prescription drug plan that provides basic prescription drug coverage, the PDP approved bid (as defined in paragraph (6)).

(ii) 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) In the case of an MA–PD plan, the portion of the accepted bid amount that is attributable to basic prescription drug coverage.

Source

2013–2022 42 U.S.C. § 1395WThe Public Health and Welfare · Premiums; late enrollment penalty · in this section

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.

Source

2003–present 42 U.S.C. § 1395WThe Public Health and Welfare · Premiums; late enrollment penalty · in this section