S.Amdt. 2931

SA 2931. Mr. LAUTENBERG (for himself and Mr. Whitehouse) submitted an
amendment intended to be proposed to amendment SA 2786 proposed by Mr.
Reid (for himself, Mr. Baucus, Mr. Dodd, and Mr. Harkin) to the bill
H.R. 3590, to amend the Internal Revenue Code of 1986 to modify the
first-time homebuyers credit in the case of members of the Armed Forces
and certain other Federal employees, and for other purposes; which was
ordered to lie on the table; as follows:

[[Page S12520]]

At the end of subtitle G of title I, insert the following:

SEC. 1563. DISCLOSURE OF INSURANCE COMPANY EXECUTIVE
COMPENSATION.

(a) Mandatory Disclosure of Executive Compensation
Information.--Each health care insurance company, including
qualified health plans participating in an Exchange
established under section 1311 and applicable plans or
entities (as defined in section 1128J(f)(2) of the Social
Security Act, as added by subsection (g)), shall annually
disclose the compensation of the Chief Executive Officer of
such health care insurance company for the previous year.
(b) Standards.--The Secretary of the Treasury, in
consultation with the Secretary of Health and Human Services
and the Chairman of the Securities and Exchange Commission,
shall develop standards for disclosing the information
described in subsection (a) in a manner determined to be
understandable by the average health plan enrollee.
(c) Compensation Defined.--In this section, the term
``compensation'' means wages, salary, fees, commissions,
fringe benefits, deferred compensation, retirement
contributions, options, bonuses, property, and any other form
of remuneration, as the Secretary of the Treasury determines
appropriate.
(d) Effective Date.--Beginning on April 1, 2010, each
health care insurance company shall annually disclose the
information as described in subsection (a) to--
(1) the Secretary of Health and Human Services, for
inclusion of data in the internet portal to affordable
coverage options established and operated under sections 1103
and 1311(c)(4);
(2) an applicant at the time of application;
(3) an enrollee at the time of enrollment;
(4) a policyholder or certificate holder at the time of
issuance of the policy or delivery of the certificate.
(e) Enforcement.--A person that willfully fails to provide
the information required under this section shall be subject
to a fine of not more than $1,000 for each such failure. Such
failure with respect to each enrollee, applicant,
policyholder, or certificate holder shall constitute a
separate offense for purposes of this subsection.
(f) Amendment to Section 1311.--Section 1311(c)(1) is
amended--
(1) in subparagraph (G), by striking ``and'' at the end;
and
(2) by inserting after subparagraph (G) the following:
``(H) annually disclose the compensation of the Chief
Executive Officer of the health care insurance company for
the previous year, in accordance with the standards developed
under section 1563(b); and''.
(g) Application to Medicare and Medicaid.--Section 1128J of
the Social Security Act, as added by section 6402, is amended
by adding at the end the following new subsection:
``(f) Disclosure of Executive Compensation by Certain Plans
and Other Entities.--
``(1) In general.--An applicable plan or entity shall
annually disclose the compensation of the Chief Executive
Officer of the applicable plan or entity for the previous
year, in accordance with the standards developed under
section 1563(b) of the Patient Protection and Affordable Care
Act.
``(2) Applicable plan or entity.--In this subsection, the
term `applicable plan or entity' means the following:
``(A) A Medicare Advantage plan under part C of title
XVIII.
``(B) A prescription drug plan under part D of such title.
``(C) A Medicaid managed care organization (as defined in
section 1903(m)(1)(A)).
``(D) Any health insurance issuer that contracts with a
State to provide medical assistance under a State Medicaid
program under title XIX or child health assistance under the
State Children's health insurance program under title XXI.
``(E) Any other plan or entity the Secretary determines
appropriate.''.
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