S. 4935 — Introduced in Senate

II 118th CONGRESS 2d Session S. 4935 IN THE SENATE OF THE UNITED STATES August 1, 2024Mr. Boozman (for himself, Mr. Welch, Mr. Tillis, Mr. King, Mr. Marshall, and Mrs. Shaheen) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend title XVIII of the Social Security Act to update the budget neutrality threshold under the Medicare physician fee schedule. 1. Short title This Act may be cited as the Physician Fee Stabilization Act. 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— (1) by striking Subject to and inserting the following: (aa) In general Subject to ; (2) 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 (3) by adding at the end the following new items: (bb) Amount specified For 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 adjustments 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. .