Final answer:
The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 authorized the NAIC to develop a standardized model for Medicare supplement policies, separate from the ACA which overhauled healthcare in 2010.
Step-by-step explanation:
The law that was passed to authorize the National Association of Insurance Commissioners (NAIC) to develop a standardized model for Medicare supplement policies was the Medicare Prescription Drug, Improvement, and Modernization Act of 2003. This act is not to be confused with the Patient Protection and Affordable Care Act (ACA) or Obamacare, which was a significant overhaul of the American healthcare system implemented in 2010. While the ACA focused on expanding access to health insurance and making healthcare more affordable, the Medicare Prescription Drug, Improvement, and Modernization Act aimed to improve Medicare for seniors by adding an outpatient prescription drug benefit and authorizing the NAIC to standardize Medicare supplement policies, among other things.