Seniors' Security Act of 2000

Seniors' Security Act of 2000 - Amends the Internal Revenue Code to allow a 100 percent deduction for amounts paid for any Medicare supplemental policy which contains an outpatient prescription drug benefit with an annual actuarial value that is equal to or greater than $500, any Medicare-plus-Choice plan which contains an outpatient prescription drug benefit with an annual actuarial value that is equal to or greater than $500, and any coverage limited to qualified long- term care services or any qualified long-term care insurance contract. Provides for the establishment of procedures to determine the annual actuarial value of drug benefits under such plans and policies.

Includes qualified long-term care insurance contracts in cafeteria and flexible spending arrangements.

Amends title XVIII (Medicare) of the Social Security Act to permit the modification of standards so as to provide for additional Medigap policies.