Universal Coordinated Care Act of 1992

[AI summary unavailable — showing source text] Universal Coordinated Care Act of 1992 - Amends the Internal Revenue Code to allow an individual a tax credit for certain amounts paid by or on behalf of such individual to a health services account for the payment of qualified health expenses. Provides for the certification of a health services supplemental policy as a health insurance policy or other health benefit plan offered by a private entity to an individual which provided reimbursement for expenses incurred, or services for catastrophic and long-term care. Requires any amount distributed out of a health services account to be included in the taxable income of the distributee. Imposes a penalty on distributions not used to pay qualified health expenses. Declares such accounts exempt from tax, unless the distributee engages in prohibited transactions or the account is pledged as security for a loan. Terminates such accounts on the death of the distributee. Requires a Health and Human Services report to the Congress on minimum standards for health services supplemental policies. Amends title XVIII (Medicare) of the Social Security Act to provide coverage of home care services for qualified patients. Amends the Social Security…