Detailed Summary

MediKids Health Insurance Act of 2007 - Amends the Social Security Act to add a new title XXII (Medikids Program) which creates a program to guarantee comprehensive health care coverage, including prescription drugs for all children meeting specified age requirements.

Creates the MediKids Trust Fund.

Expands the membership of the Medicare Payment Advisory Commission to 19.

Amends the Internal Revenue Code to: (1) impose a MediKids premium for the taxable year, with an exemption for very low-income raxpayers; and (2) create a refundable tax credit providing a catastrophic limit on MediKids cost-sharing expenses.

Directs the Secretary of the Treasury to propose a gradual schedule of progressive tax changes to fund the Medikids program, as the number of enrollees grows in the out-years.

Status of the Legislation

Latest Major Action: 5/17/2007: Referred to House committee. Status: Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Points in Favor

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Points Against

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