To provide for insurance reform (including health insurance reform), amend title XVIII of the Social Security Act to reform Medicare Advantage and reduce disparities in the Medicare Program, regulate the importation of prescription drugs, and for other purposes.

[AI summary unavailable — showing source text] Amends the McCarran-Ferguson Act to restore application of the Clayton Act and other antitrust laws to insurers. Prohibits premium variation except by geographic premium rating area and by family enrollment. Requires each health benefits plan issuer that offers health insurance coverage in the individual or group market in a state to accept every employer and individual in the state that applies for such coverage. Places restrictions on federal funding of abortion, except in cases of certain physical conditions, rape, or incest. Limits a health benefits plan to selling health insurance coverage to U.S. citizens and lawful resident aliens. Amends title XVIII (Medicare) and title XIX (Medicaid) of the Social Security Act to revise requirements for: (1) Medicare Advantage, with respect to the blended benchmark amount and elimination of the MA Regional Plan Stabilization Fund; (2) an increase in the physician fee schedule practice expense geographic adjustment; (3) establishment of a Medicare operated prescription drug plan option; and (4) pharmacy reimbursement. Amends the Federal Food, Drug, and Cosmetic Act (FFDCA) to revise requirements for the importation of prescription drugs. Re…