Strengthening Medicare Advantage through Innovation and Transparency for Seniors of 2015

Value Based Insurance Design for Better Care Act of 2015 or the VBID for Better Care Act of 2015 Directs the Department of Health and Human Services (HHS) to establish a three-year demonstration program to test the use of value-based insurance design methodologies under the eligible Medicare Advantage plans offered by Medicare Advantage organizations under part C (Medicare+Choice) of title XVIII (Medicare) of the Social Security Act. Defines "value-based insurance design methodology" as one for identifying specific prescription medications, and clinical services payable under Medicare, for which copayments, coinsurance, or both would improve the management of specific chronic clinical conditions because of the high value and effectiveness of such medications and services for such specific chronic clinical conditions, as approved by the Secretary. Authorizes HHS to expand the duration and scope of the demonstration program to an appropriate extent if specified requirements are met.