Interim protections for Medicare Part A trust fund surplus

(a) In general Section 1817(c) of the Social Security Act (42 U.S.C. 1395i(c)) is amended— (1) by striking It shall be the duty and inserting (1) Except as provided in paragraph (2), it shall be the duty; (2) by striking (1) on original issue at the issue price, or (2) and inserting (A) on original issue at the issue price, or (B); and (3) by adding at the end the following new paragraph: (2) (A) There is established in the Federal Hospital Insurance Trust Fund a Medicare Surplus Protection Account (in this paragraph referred to as the Account). As soon as practicable after the end of each fiscal year after fiscal year 2025, the Managing Trustee shall transfer to the Account, from amounts otherwise available in the Trust Fund, amounts equivalent to the Medicare part A surplus for such fiscal year. Such amounts shall be transferred from time to time to the Account, such amounts to be determined on the basis of estimates by the Managing Trustee, and proper adjustments shall be made in amounts subsequently transferred to the extent prior estimates were in excess of or were less than the correct amount. (B) For purposes of subparagraph (A), the term Medicare part A surplus means, for any fiscal year, the excess, if any, of— (i) the sum of— (I) the taxes imposed for such fiscal year by sections 3101(b) and 3111(b) of the Internal Revenue Code of 1986 with respect to wages (as defined in section 3121 of such Code) reported to the Secretary of the Treasury or his delegates pursuant to subtitle F of such Code, as determined by the Secretary of the Treasury by applying the applicable rates of tax under such sections to such wages; and (II) the taxes imposed by section 1401(b) of the Internal Revenue Code of 1986 with respect to self-employment income (as defined in section 1402 of such Code) reported to the Secretary of the Treasury on tax returns under subtitle F of such Code, as determined by the Secretary of the Treasury by applying the applicable rate of tax under such section 1401(b) to such self-employment income; over (ii) the sum of— (I) benefits paid from the Trust Fund during the fiscal year; and (II) amounts authorized to be made available from the Trust Fund under subsection (f) of this section (or section 201(g)) which are paid from the Trust Fund during such fiscal year. (C) Notwithstanding paragraph (1), the balance in the Account shall not be available for investment by the Managing Trustee. (D) (i) The preceding provisions of this paragraph shall not apply with respect to fiscal years commencing with or after the first fiscal year, after fiscal year 2025, for which a provision of Federal law takes effect and authorizes, for amounts in the Trust Fund, an investment vehicle other than obligations of the United States. (ii) A provision of Federal law shall be deemed to meet the requirements of clause (i) if such provision includes the following: This Act shall be considered to be a provision of Federal law meeting the requirements of section 1817(c)(2)(D)(i) of the Social Security Act...