Amends part C (Medicare+Choice) of title XVIII (Medicare) of the Social Security Act to change from May 1 to July 15 the annual deadline for a Medicare+Choice organization to submit to the Secretary of Health and Human Services proposed premiums and information relating to coordinated plans, Medical Savings Account (MSA) plans, and private fee-for-service plans. Authorizes the Secretary to require an interim submission before July 15.

Requires a Medicare+Choice organization to notify the Secretary before July 15 during a contract term of an intention to terminate the contract at the end of the term. Reduces from five to three years the waiting period after a Medicare+choice organization's termination of a contract during which the Secretary may not contract again with such organization.

Allows certain eligible organizations with risk-sharing contracts which have notified the Secretary of an intention not to convert such a contract to one offering a Medicare+Choice plan to resubmit an updated version of proposed premiums and related plan information previously submitted to make such a conversion. Requires the Secretary to act on such updated information in such a manner as to ensure that, if approved, the organization may make the conversion.