New Insurance Coverage Equity (NICE) Act of 2001

[AI summary unavailable — showing source text] New Insurance Coverage Equity (NICE) Act of 2001 - Amends title XVIII (Medicare) of the Social Security Act (SSA) to add a new Medicare part D (NICE Drug Benefit Program) (NICE program), administered by the NICE Board, also charged with running a New Insurance Coverage Equity Office established within the Department of Health and Human Services, under which all individuals entitled to Medicare part A (Hospital Insurance) benefits and enrolled in Medicare part B (Supplementary Medical Insurance) shall be provided access to coverage of outpatient prescription drugs that meet specified requirements. Grants such access via either enrollment in a Medicare+Choice (Medicare part C) plan, enrollment in a NICE Medicare supplemental policy, or enrollment in a group health plan. Provides for financial assistance to enable covered beneficiaries to obtain enrollment coverage. Vests the NICE Board with outreach and other specified duties, such as establishing procedures for enrollment and enhanced financial assistance. Outlines requirements for the offering of NICE program coverage, which include prohibiting pre-existing condition exclusions. Establishes in the Treasury the NICE Trust Fund, cons…