Payments already approved fall 10 points a year from 2028
What the document says“beginning with the rating period on or after January 1, 2028, the total amount of such payment shall be reduced by 10 percentage points each year until the total payment rate for such service is equal to the rate for such service specified in subsection (a).”
The section keeps the old rate for a payment with written prior approval, or a good faith effort to get it, before May 1, 2025, for a rural hospital payment so approved by enactment for a rating period within 180 days of enactment, and for one where a completed preprint was sent in before enactment. From the rating period on or after January 1, 2028 those payments fall by 10 percentage points a year until they reach the new cap.
What the document actually says“beginning with the rating period on or after January 1, 2028, the total amount of such payment shall be reduced by 10 percentage points each year until the total payment rate for such service is equal to the rate for such service specified in subsection (a).”
From January 1, 2028 the payment starts to fall. It drops 10 points each year. It falls until it hits the new cap.
That covers payments already approved. It also covers some rural hospital payments. The wind down is gradual, not at once.
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