Medicare+Choice Payment Equity Act of 1999

Medicare+Choice Payment Equity Act of 1999 - Amends title XVIII (Medicare) of the Social Security Act to eliminate the budget neutrality adjustment factor used in calculating the blended capitation rate for Medicare+Choice organizations under Medicare part C (Medicare+Choice).

Directs the Secretary of Health and Human Services to submit to the Congress a legislative proposal that provides for aggregate decreases in Federal expenditures under the Medicare program as are equal to the aggregate increases in such expenditures under such program resulting from such elimination.