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This bill doesn't do what it's name implies
In spite of this bill's name, it actually would do nothing to protect anyone's access to Medicare.
It would repeal a part of the Patient Protection and Affordable Care Act (PPACA) intended to help control Medicare costs.
It prevents the creation of an effective cost-control agency
Medicare costs currently are reviewed by the Medicare Payment Advisory Commission (MedPAC). But the MedPAC only has the ability to suggest cost reductions to Congress.
A provision of the Affordable Care Act replaces the MedPAC with a new agency called the Independent Payment Advisory Board (IPAB). The IPAB would be able to dictate cost-saving changes without explicit approval from Congress. (there still are restrictions and Congress would have the ability to substitute other measures that achieve the same savings).
This bill would repeal the part of the Affordable Care Act that creates the IPAB.
The bill had no chance of being enacted
The bill passed the House on a virtual party-line vote.It was not taken up by the Senate.
The bill died when the 2015-2016 Congressional term ended. Even so, President Obama had indicated he would veto the bill had it passed both houses of Congress.
More information
You can find more details about this bill at GovTrack.us and www.MedicareVotes.org.
Click here to read the Obama administration's response to this bill.
For more, read the The Hill story.