The Medicare Prescription Drug Improvement and Modernization Act of 2003
Client Alert | 1 min read | 01.01.04
The President has signed into law the Medicare Prescription Drug Improvement and Modernization Act of 2003. The Act is a far-reaching recasting of the Medicare law, most notably in the creation of a new drug benefit. It also makes major changes to the Medicare coordinated care plan program, now to be called Medicare Advantage, radically restructures the Medicare intermediary contracting program, changes provider reimbursement, creates a new form of health savings account with potentially significant tax advantages, and changes many other aspects of the almost 40-year old program.
Click here to download Crowell & Moring's summary of the Medicare Prescription Drug Improvement and Modernization Act of 2003 [doc].
Insights
Client Alert | 4 min read | 08.21.25
FLSA Overtime Reporting and Withholding
The One Big Beautiful Bill Act (the Act), signed on July 4, 2025, allows a deduction from an individual’s personal tax return on Form 1040 for “qualified overtime compensation” as defined in new Code § 225. The amount that can be deducted from the employee’s return is capped at $12,500 with the maximum then adjusted down if the employee’s AGI exceeds certain limits. This deduction is permitted in 2025.
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