S. 1396

Value Based Insurance Design Seniors Copayment Reduction Act of 2015

Directs the Department of Health and Human Services (HHS) to establish a demonstration program to test Value-Based Insurance Design methodologies in Medicare Advantage plans under part C (Medicare+Choice) of title XVIII (Medicare) of the Social Security Act for beneficiaries with chronic clinical conditions.

Defines "value-based insurance design methodology" as one for identifying specific prescription medications and clinical services for which copayments or coinsurance should be reduced or eliminated due to the high-value and effectiveness of such medications and services for specific clinical conditions.

Directs HHS to expand the demonstration program, except in certain circumstances, by issuing regulations to implement, on a permanent basis, those components that are beneficial to Medicare beneficiaries and the Medicare program.