NY S02172

Amends Elder Law Section 254 to require the panel to adjust program eligibility standards for the Elderly Pharmaceutical Insurance Coverage (EPIC) program to account for increases in the cost of living within appropriated amounts.

Requires adjustment of individual and joint income categories to conform with cost of living adjustments made to eligibility standards.

Eliminates the "EPIC marriage penalty" by defining joint income as the combined income of married couples divided by two for eligibility purposes.

Sets quarterly registration fees, point-of-sale co-payment limits, and annual covered drug expenditures for married participants at levels no greater than those for unmarried individuals with equivalent joint income.

Directs the panel to implement marriage penalty adjustments on a four-year schedule, beginning in the fiscal year following the law's effective date of April 1st.