What is Public Option Act?

Legal Definition
The proposed Public Option Act is a bill that was introduced to the United States House of Representatives in 2010. It would permit U.S. citizens (and permanent residents) to "buy in" to Medicare public health insurance by paying premiums. The bill was introduced by Representative Alan Grayson, a Democrat from Florida. As of March 24, 2010 it had eighty cosponsors.
-- Wikipedia