Provides for monthly premiums, and creates the Medicare Early Access Trust Fund to hold them.
Amends SSA title XVIII to provide access to Medicare benefits to displaced workers age 55-to-62 and their spouses.
Amends the Employee Retirement Income Security Act of 1974 (ERISA), the Public Health Service Act, and the Internal Revenue Code to provide for COBRA (Consolidated Omnibus Budget Reconciliation Act of 1985) continuation benefits for certain retired workers who lose retiree health coverage.
Amends SSA title XIX (Medicaid) to require State Medicaid plans to provide for Federal Medicare-cost sharing premium assistance for certain low-income individuals enrolled under the part D program.