Comprehensive Long-Term Care Act of 1992

Comprehensive Long-Term Care Act of 1992 - Amends title XVIII (Medicare) of the Social Security Act to: (1) extend Medicare part A (Hospital Insurance) coverage of extended care services to chronically dependent individuals; and (2) provide for coverage of home care services and outpatient prescription drugs under Medicare part B (Supplementary Medical Insurance).

Sets forth payment provisions for outpatient prescription drugs covered under Medicare part B, which provide for application of a deductible in determining the amount of an individual's payment for such drugs.

Requires the Secretary of Health and Human Services to: (1) establish a program for assuring appropriate prescribing and dispensing practices for prescription drugs covered under Medicare part B; (2) develop, and update annually, an information guide for physicians concerning the comparative average wholesale prices of at least 500 of the most commonly prescribed drugs covered under Medicare part B; and (3) report to the Congress on manufacturers' and pharmacists' prescription drug prices and on the use of prescription drugs by individuals eligible for Medicare part B benefits (Medicare-eligible individuals).

Requires pharmacies to enter into an agreement with the Secretary in order to receive payment for prescription drugs dispensed to Medicare-eligible individuals. Specifies agreement terms and conditions, including those prohibiting pharmacies from charging Medicaid-eligible individuals more than the general public for prescription drugs covered under Medicare part B. Requires the Secretary to: (1) periodically audit pharmacies that have entered into such an agreement; and (2) establish a point-of-sale electronic system for use by carriers and pharmacies in the submission of information on prescription drugs dispensed to Medicare-eligible individuals. Authorizes sanctions against pharmacies that violate their agreement with the Secretary.

Limits the length of prescriptions.

Provides for the role of carriers, fiscal intermediaries, and other entities in the administration of the electronic claims system established above.

Requires the Director of the Office of Technology Assessment to provide for the appointment of a Prescription Drug Payment Review Commission. Requires the Commission to report annually to the Congress on methods of determining payment for prescription drugs covered under Medicare part B. Authorizes appropriations.

Requires the Secretary to develop a standard prescription drugs claims form for use under Medicare and by other third-party payors.