Medicare Rural Ambulance Service Improvement Act of 2001

Medicare Rural Ambulance Service Improvement Act of 2001 - Amends title XVIII (Medicare) of the Social Security Act (SSA), as amended by the Medicare, Medicaid, and SCHIP Benefits Improvement and Protection Act of 2000, to direct the Secretary of Health and Human Services to increase by 20 percent the payment under Medicare for rural ambulance services. Increases by $7.50 per mile the payment rate for the first 17 miles of an ambulance trip transporting a patient.

Provides for determination of rural areas based on population density by postal zip codes.

Requires the use of recent data for calculation of budget neutrality adjustments to payments for ambulance services.

Exempts ambulance suppliers from certain provider designation rules.

Directs the Secretary to determine and apply separately the reasonable costs of ground and air ambulance services.