Medicare Prescription Drug, Improvement, and Modernization Act

The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 is a law that expanded Medicare to include a voluntary prescription drug benefit (Part D), helping seniors and certain disabled individuals afford medications. It also introduced health savings accounts and made adjustments to improve the quality and efficiency of healthcare services for Medicare beneficiaries. The legislation aimed to modernize Medicare, increase choices, and promote competition among private plans while maintaining the program’s core focus on providing healthcare coverage for eligible Americans.