Final answer:
The Health Care Financing Administration (HCFA) was renamed to the Centers for Medicare & Medicaid Services (CMS) in July of 2001 to reflect its wider range of responsibilities.
Step-by-step explanation:
In July of 2001, the Health Care Financing Administration (HCFA) changed its name to the Centers for Medicare & Medicaid Services (CMS). This change reflected the agency's broadened scope and responsibilities.
CMS continues to play a significant role in the administration of key health care programs including Medicare, Medicaid, and the State Children's Health Insurance Program (SCHIP), particularly under the transformations brought about by legislation like the Personal Responsibility and Work Opportunity Reconciliation Act and the Patient Protection and Affordable Care Act, more commonly known as Obamacare.