A bill to amend title XVIII of the Social Security Act for the purpose of authorizing the President to enter into agreements establishing reciprocal arrangements between the medicare program and similar programs of any foreign country.

Amends title XVIII (Medicare) of the Social Security to authorize the President to enter into agreements establishing reciprocal arrangements between the health insurance program established by such title and the program of any foreign country under which similar services are provided directly to entitled individuals or under which insurance is provided to meet all or part of the expenses of entitled individuals for health services. Requires that any such agreement specify: (1) the nature and extent of payment to be made to or on behalf of individuals entitled to benefits; (2) limitations on the nature and duration of health services and on entitlement of individuals to benefits on a reciprocal basis under an agreement in the United States and in the foreign country; and (3) the methods by which the cost of providing health services on a reciprocal basis shall be shared by the United States and the foreign country.

Directs the Secretary of Health, Education, and Welfare to make rules and regulations and establish procedures which are reasonable and necessary to implement and administer any agreement which has been entered into in accordance with this Act. Authorizes the Secretary to enter into interim arrangements with any hospital in a foreign country which is accredited by the Joint Commission on Accreditation of Hospitals, or such other hospitals as the Secretary finds meet specified health and safety standards.