Limitation on year-to-year conversion factor variance

Section 1848(c)(2)(B) of the Social Security Act (42 U.S.C. 1395w–4(c)(2)(B)), as amended by sections 402 and 403, is further amended by adding at the end the following new clause: (ix) Limitation on conversion factor variance (I) In general Beginning with 2027, the Secretary may not, for purposes of complying with clause (ii)(II), apply a budget neutrality adjustment to a conversion factor established under subsection (d) for such year that would cause such factor, not taking into account any adjustment to such factor for such year provided under such subsection, to vary by more than 2.5 percent compared to such factor so established for the preceding year. (II) Continued applicability of budget neutrality requirement Nothing in subclause (I) may be construed to alter the requirement described in clause (ii)(II)..