Family Choice and Universal Coverage Health Insurance Reform Act of 1992

[AI summary unavailable — showing source text] Family Choice and Universal Coverage Health Insurance Reform Act of 1992 - Title I: New Tax Credit for Health Expenses - Amends the Internal Revenue Code to provide a limited tax credit for coverage of the taxpayer, spouse, and dependents under a qualified health plan. Adjusts such amount for inflation. Phases out the exclusion from gross income for employer-provided health coverage. Makes such exclusion applicable only to individuals covered before the date of enactment of this Act. Terminates the medical expense deduction, the deduction for health insurance costs of the self-employed, and the health insurance earned income credit. Title II: Standards for Qualified Health Plans - Subtitle A: General Standards Relating to Benefits and Cost-Sharing, Underwriting, and Premiums for Federally-Qualified Health Plans - Specifies the required coverages of federally-qualified health plans for inpatient and outpatient hospital services, physicians' services, prenatal and well-baby and well-child care, diagnostic tests, inpatient prescription drugs, and emergency services. Allows such plans to impose cost-sharing for covered services with limitations. Prohibits the issuer of such plans from …