HealthCARE Act of 2003

Health Coverage, Affordability, Responsibility, and Equity Act of 2003 or the HealthCARE Act of 2003 - Amends Title XIX (Medicaid) of the Social Security Act to allow State plans for medical assistance to provide Medicaid coverage to individuals who meet a specified standard for poverty.

Amends Title XXI (State Children's Health Insurance Program) of the Act to permit a State to opt to provide coverage of targeted low-income children in excess of the State's allotment.

Amends the Internal Revenue Code to permit a credit for the cost of qualified health insurance for the taxpayer or qualifying family members.

Provides for the advance payment by the Secretary of the Treasury of credit for health insurance costs of eligible low-income individuals.

Establishes a program of health insurance purchasing pools (purchasing pools) for eligible individuals in participating states.

Sets conditions entities must meet to enter into contracts with a purchasing pool operator. Prohibits participating insurers from limiting or denying coverage or increasing premiums for any of specified health factors.

Directs the Secretary to establish standards for State-based reinsurance programs, and permits the Secretary to award grants to States to cover the costs of such programs.

Directs the Secretary to establish the National Advisory Commission on Expanded Access to Health Care, which shall assess the effectiveness of programs designed to expand health care coverage or make such coverage affordable to otherwise uninsured individuals.

Permits a State to apply to the Secretary for waivers of such provisions of law as may be necessary for the State to implement policies that make comprehensive, affordable health coverage available for all State residents.