Older Americans Home Services and Catastrophic Insurance Act

Older Americans Home Services and Catastrophic Insurance Act - Title I: Home Care for the Elderly and the Disabled - Establishes a voluntary home care benefits program for aged and disabled individuals who are eligible for medicare benefits, such program to be financed with contributions from funds appropriated by the Federal Government and contributions by the States. Includes within such coverage home health services, homemaker services, nutrition services, long- term institutional care services, day care and foster home services, and community mental health center outpatient services.

Stipulates that such benefits shall not go into effect in a State until the Secretary of Health, Education, and Welfare has determined that such State has an agency able to perform the requisite functions under this title and such agency submits to the Secretary a satisfactory plan for operation of a home care benefits program.

Creates within the United States Treasury the Federal Home Care Trust Fund, supervised by a Board of Trustees who shall report annually to Congress on the operation and status of the Fund. Authorizes the appropriation to the Trust Fund of such sums as are necessary to carry out this title.

Requires participating community home care centers to: (1) furnish services as directed by this title; (2) evaluate and certify the home care needs of eligible individuals; (3) maintain a continuous relationship with each individual receiving items and services; (4) allow full opportunity for individuals and their families to participate in the determinations and functions under this program; (5) make known its existence and location to all eligible individuals in its service area; and (6) submit to the State home care agency an annual report on its activities.

Directs the Secretary to pay to each State which has a State home care agency an amount equal to 75 percent of the total amount expended during each quarter as payment to community home care centers.

Directs the Secretary to determine whether an individual is entitled to benefits under this title. Entitles any individual dissatisfied with such determination to a hearing and judicial review of the Secretary's final decision.

Title II: Catastrophic Health Insurance Coverage for the Elderly and the Disabled - Amends the Social Security Act to extend Medicare coverage of hospital care for the aged to remove time limitations on the coverage of inpatient hospital services and posthospital extended care services. Restructures the limitations on coinsurance under the hospital insurance plan and under the supplementary medical insurance program.

Authorizes the appropriation, from time to time, to the Federal Hospital Insurance Trust Fund and the Federal Supplementary Medical Insurance Trust Fund, of such sums as the Secretary deems necessary to compensate for the increased benefit costs of catastrophic coverage.