Medicare Funding Warning Response Act of 2008

Medicare Funding Warning Response Act of 2008 - Directs the Secretary of Health and Human Services to: (1) develop and implement a system for encouraging nationwide adoption and use of interoperable electronic health records and to make available personal health records for Medicare beneficiaries; (2) develop and implement a plan for ensuring that, by the year 2013, quality measures are available and reported with respect to at least 50% of the care provided under the Medicare program; (3) design and implement a system under which a portion of Medicare payments that would otherwise be made to some or all classes of individuals and entities furnishing items or services to beneficiaries would be based on the quality and efficiency of their performance; (4) implement incentives for Medicare beneficiaries to use more efficient providers and preventive services known to reduce costs; and (5) use and release Medicare data for quality improvement, performance measurement, public reporting, and treatment-related purposes.

Amends title XVIII (Medicare) of the Social Security Act (SSA) to authorize the public release of physician performance measurements.

Help Efficient, Accessible, Low-cost, Timely Healthcare (HEALTH) Act of 2008 - Sets conditions for health care lawsuits to: (1) require commencement of such lawsuits within three years after manifestation or one year after discovery of injury; (2) limit noneconomic damages and attorneys' contingent fees; (3) prescribe requirements for determining punitive damages; (4) deny punitive damages in the case of products approved, cleared, or licensed by the Food and Drug Administration (FDA), or otherwise considered in compliance with FDA standards; and (4) authorize periodic payment of future damages.

Amends SSA title XVIII part D (Voluntary Prescription Drug Benefit Program) to require high income-related reductions in the part D premium subsidy.