S4935-118

2. Updating the budget neutrality threshold Section 1848(c)(2)(B)(ii)(II) of the Social Security Act (42 U.S.C. 1395w–4(c)(2)(B)(ii)(II)) is amended— by striking Subject to and inserting the following: Subject to in item (aa), as inserted by paragraph (1), by striking $20,000,000 and inserting the amount specified in item (bb) for such year; and by adding at the end the following new items: For purposes of item (aa), subject to item (cc), the amount specified in this item is— for years before 2026, $20,000,000; for 2026, $53,000,000; and for 2027 and each subsequent year, the amount specified in this item for the preceding year. For 2031 and every subsequent fifth year, the Secretary shall increase the amount specified in item (bb) for such year by the cumulative increase in the MEI (as defined in section 1842(i)(3)) applicable to physicians’ services over the 5-year period ending on the last day of the preceding year. (aa)In generalSubject to; (bb)Amount specifiedFor purposes of item (aa), subject to item (cc), the amount specified in this item is—(AA)for years before 2026, $20,000,000;(BB)for 2026, $53,000,000; and(CC)for 2027 and each subsequent year, the amount specified in this item for the preceding year.(cc)Indexing limitation on annual adjustmentsFor 2031 and every subsequent fifth year, the Secretary shall increase the amount specified in item (bb) for such year by the cumulative increase in the MEI (as defined in section 1842(i)(3)) applicable to physicians’ services over the 5-year period ending on the last day of the preceding year..