Ill STAT. 432 PUBLIC LAW 105-33 —AUG. 5, 1997 basis pending notice and opportunity for public comment. For periods before the effective date of such regulations, such regulations shall recognize elections entered into in good faith in order to comply with the requirements of section 1821(b) of the Social Security Act. Subtitle F—Provisions Relating to Part B Only CHAPTER 1—SERVICES OF HEALTH PROFESSIONALS Subchapter A—Physicians' Services SEC. 4501. ESTABLISHMENT OF SINGLE CONVERSION FACTOR FOR 1998. (a) IN GENERAL.—Section 1848(d)(1) (42 U.S.C. 1395w-4(d)(l)) is amended— (1) by redesignating subparagraph (C) as subparagraph (D), and (2) by inserting after subparagraph (B) the following: "(C) SPECIAL RULES FOR 1998.—The single conversion factor for 1998 under this subsection shall be the conversion factor for primary care services for 1997, increased by the Secretary estimate of the weighted average of the three separate updates that would otherwise occur were it not for the enactment of chapter 1 of subtitle F of title IV of the Balanced Budget Act of 1997.". (b) CONFORMING AMENDMENTS. —Section 1848 (42 U.S.C. 1395w-4) is amended— (1) by striking "(or factors)" each place it appears in subsection (d)(1)(A) and (d)(l)(D)(ii) (as redesignated by subsection (a)(1)), (2) in subsection (d)(1)(A), by striking "or updates", (3) in subsection (d)(1)(D) (as redesignated by subsection (a)(1)), by striking "(or updates)" each place it appears, and (4) in subsection (j)(l), by striking "The term" and inserting "For services furnished before January 1, 1998, the term". SEC. 4502. ESTABLISHING UPDATE TO CONVERSION FACTOR TO MATCH SPENDING UNDER SUSTAINABLE GROWTH RATE. (a) UPDATE. — (1) IN GENERAL.— Section 1848(d)(3) (42 U.S.C. 1395w- 4(d)(3)) is amended to read as follows: " (3) UPDATE.— "(A) IN GENERAL. —Unless otherwise provided by law, subject to subparagraph (D) and the budget-neutrality factor determined by the Secretary under subsection (c)(2)(B)(ii), the update to the single conversion factor established in paragraph (1)(C) for a year beginning with 1999 is equal to the product of— "(i) 1 plus the Secretary's estimate of the percentage increase in the MEI (as defined in section 1842(i)(3)) for the year (divided by 100), and "(ii) 1 plus the Secretary's estimate of the update adjustment factor for the year (divided by 100), minus 1 and multiplied by 100.
�
