American Health Benefits Program Act of 2004 - Amends the Social Security Act and the Internal Revenue Code to establish an American Health Benefits Program to provide comprehensive health insurance coverage to all Americans (and permanent resident aliens) who are not covered under certain Federal health insurance programs. States that the coverage is provided in a manner similar to the manner in which coverage has been provided to Members of Congress and Federal Government. Allows for premium and cost-sharing subsidies for lower income individuals. Allows for certain tax credits with respect to the amount of premiums paid, and imposes an excise tax on employers to finance this new benefit.
Directs the Comptroller General to provide for certain studies concerned with the integration of this new program with other public health insurance coverage and with the growth of prescription drug costs.
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