Medicare Rx Now Act of 2003

Medicare Rx Now Act of 2003 - Amends title XVIII (Medicare) of the Social Security Act (SSA) to provide for outpatient prescription drug coverage under Medicare part B (Supplementary Medical Insurance), along with an annual deductible, adjusted for inflation, with a three-tiered copayment structure (with reduced copayments for generic drugs). Allows for high-deductible outpatient prescription drug coverage under such new program with the provision of benefits through Medicare approved prescription drug plans, including a Medicare+Choice plan under Medicare+Choice (Medicare part C). Directs the Secretary to solicit bids from entities to offer prescription drug discount card plans to individuals enrolled under part B as long as the entity offering a prescription drug discount card plan does not offer benefits to designees of the plan in addition to high-deductible prescription drug coverage, access to negotiated prices, and other required benefits under this Act. Outlines benefits for low-income beneficiaries, including eligibility for low-income subsidies under the Medicaid program (SSA title XIX).

Provides for changes under Medicaid with respect to the enrollment process, including providing for automatic reenrollment without need to reapply.