; and (C) by adding at the end the following new subclause: (IV) for cost reporting periods beginning during fiscal year 2021 or a subsequent fiscal year, by the percent applicable for cost reporting periods beginning during the previous fiscal year, increased (through fiscal year 2024) by 10 percentage points. . C Medicare Choice and Competition 421. Competitive bidding and premiums under unified Medicare (a) In general Part E of title XVIII of the Social Security Act, as added by section 101 and amended by section 103, is further amended by adding at the end the following: 3 Competitive bidding and premiums 1860E–31. Application of competitive bidding in enrollment (a) In general Notwithstanding any other provision of this title, the Secretary shall, beginning with plan year 2021, establish a method whereby individuals enrolling under this title so enroll through an online process designed to highlight enrollment options for such individuals and allow such individuals to compare costs of enrollment in such options. (b) Enrollment options For purposes of subsection (a), the Secretary shall make the following options available to individuals for enrollment under this title: (1) Traditional fee-for-service coverage. (2) provider-led risk-bearing plans (also known as ACOs). (3) Medicare Advantage plans. (c) Medicare advantage plan actuarial value requirement Each Medicare Advantage plan offered through the process described in subsection (a) shall have an actuarial value equal to traditional fee-for-service coverage under parts A and B. (d) MA direct deposit of certain rebates In the case of an Medicare Advantage plan with a bid for a year that involves a premium differential between such bid and the benchmark for such year and plan, such plan shall provide for a direct deposit of such differential if the applicable enrollee in such plan does not elect any supplemental coverage under such plan. (e) Enrollment in prescription drug coverage As part of the method described in subsection (a), the Secretary shall