MedAmerica Act of 1987

MedAmerica Act of 1987 - Amends title XIX (Medicaid) of the Social Security Act to give States the option of extending coverage to individuals: (1) whose family income does not exceed an income level established by the State at or below 200 percent of the Federal poverty level; (2) who are unable to obtain health insurance coverage from another source by reason of a preexisting medical condition; (3) who have exhausted some or all of the benefits under their health insurance policy or plan; or (4) whose employer employs no more than 25 individuals and is unable to provide adequate health insurance coverage for such individuals at a reasonable cost. Prohibits a State from exercising the three latter options unless it has exercised its options, created under prior Federal law, of providing Medicaid coverage to pregnant women and children up to age five and the elderly, and has established State income eligibility levels for such individuals at the maximum level permitted by such law. Prohibits States from exercising any option under this Act unless their income and payment standards under part A (Aid to Families with Dependent Children) of title IV of the Act are no less than those standards in effect on April 30, 1987. Sets the annual premium, paid in monthly amounts, for benefits provided under this Act at the estimated State average per capita expenditure for Medicaid beneficiaries (excluding expenditures for skilled nursing and intermediate care facility services which are not included among the services covered by this Act), but limits such premium to three percent of the adjusted gross income for persons with family incomes between 100 and 200 percent of the Federal poverty level. Exempts families with incomes below the Federal poverty level from Medicaid premiums and any Medicaid co-payments other than those imposed on the categorically needy. Requires the imposition of co-payments on other persons covered by this Act for prescribed drugs, eyeglasses, dental services, dentures, and prosthetic devices even if such co-payments are not imposed on other Medicaid recipients.