Medicare+Choice Revitalization Act of 2003

Medicare+Choice Revitalization Act of 2003 - Amends part C (Medicare+Choice) of title XVIII (Medicare) of the Social Security Act (SSA) to make each annual Medicare+Choice capitation rate for a Medicare+Choice payment area for a contract year equal to the largest of the amounts specified under current law or, for 2004 and any subsequent year, 100 percent of the fee-for-service costs for the Medicare+Choice payment area for services covered under Medicare parts A (Hospital Insurance) or B (Supplementary Medical Insurance) for individuals entitled to benefits under part A and enrolled under part B who are not enrolled in a Medicare+Choice plan for the year.

Provides that, in determining the adjusted average per capita cost of Medicare+Choice for a year, such cost shall be adjusted to include the Secretary of Health and Human Services's estimate, on a per capita basis, of the amount of additional payments that would have been made in the area involved under Medicare if individuals entitled to Medicare benefits had not received services from facilities of the Department of Veterans Affairs (VA) or the Department of Defense (DOD).

Revises the calculation of the national standardized annual Medicare+Choice capitation rate used in determining the input-price-adjusted annual national Medicare+Choice capitation rate for a Medicare+Choice payment area.

Terminates use of a payment adjustment budget neutrality factor after 2003.

Raises the minimum percentage increase for calculation of annual Medicare+Choice capitation rates, beginning 2004, to 104 percent of the annual rate for the area for the previous year.

Provides for the inclusion of costs of DOD and VA military facility services to Medicare-eligible beneficiaries in calculation of Medicare+Choice payment rates.

Makes permanent the current Medicare+Choice reporting deadlines, and makes the month of November the permanent annual coordinated election period.

Declares that Federal standards supercede certain State law or regulations with respect to Medicare+Choice plans.

Prescribes requirements for specialized Medicare+Choice plans for special needs beneficiaries, allowing them to be any type of coordinated care plan.