American Health Security Partnership Act of 1998

TABLE OF CONTENTS: Title I: Federal Payments to States Title II: Requirements for Comprehensive Health Plans Title III: Tax Deductibility of Health Insurance Title IV: Health Care for Working Families Title V: Financing Mechanisms American Health Security Partnership Act of 1998 - Title I: Federal Payments to States - Directs the Secretary of Health and Human Services to make payments to States with certain comprehensive health insurance plans to enable them to ensure that each individual has access to health insurance coverage at least equivalent to that provided to Members of Congress and Federal employees. (Sec. 102) Sets forth implementation guidelines. Precludes a State from receiving such funds if it adopts Medicaid eligibility standards more restrictive than those applied as of June 1, 1997. (Sec. 103) Appropriates specified amounts for FY 1999 through 2003 out of the tobacco settlement trust fund established by this Act. Title II: Requirements for Comprehensive Health Plans - Sets deadlines for submission and implementation of a State-administered comprehensive health insurance plan that conforms with specified requirements. (Sec. 203) Amends the Social Security Act to set a deadline by which a State must have in effect a certified comprehensive health insurance plan as a prerequisite to receiving Federal Medicaid payments. Title III: Tax Deductibility of Health Insurance - Amends the Internal Revenue Code to allow a deduction from adjusted gross income equal to 100 percent of the amount paid for insurance which constitutes medical care for the taxpayer, spouse, and dependents. Title IV: Health Care for Working Families - Amends the Fair Labor Standards Act of 1938 to mandate that each large employer offer its employees the opportunity to enroll in a health care plan that meets the requirements of the certified comprehensive health insurance plan set forth under this Act. (Sec. 401) Subjects such employers to civil money penalties for violations of this Act. (Sec. 402) Amends the Public Health Service Act to require any health insurance issuer offering health insurance coverage to an employer on behalf of the employees to ensure that such coverage complies with the certified comprehensive health insurance plan requirements set forth under this Act. Title V: Financing Mechanisms - Amends the Internal Revenue Code to increase the top income tax rate applicable to corporations from 35 percent to 36 percent. (Sec. 502) Establishes a tobacco settlement trust fund in the Treasury for the deposit of payments made to the Federal Government pursuant to legislation implementing a national tobacco settlement.