To restore the medicare and medicaid law to the provisions in effect before the enactment of the Medicare Catastrophic Coverage Act of 1988 and to establish a Presidential Commission on the Medicare Program.

Repeals the Medicare Catastrophic Coverage Act of 1988.

Establishes the Presidential Commission on the Medicare Program to ascertain the health care needs of Medicare (title XVIII of the Social Security Act) beneficiaries, focusing on the potential of covering long-term care under the Medicare program. Requires the Commission to report to the Congress and the President. Authorizes appropriations.