Physician Fee Stabilization Act

This bill amends a Medicare payment provision to adjust the annual budget cap for physician fee adjustments. It replaces a fixed $20 million cap with a new formula: $20 million for years before 2026, $53 million for 2026, and then annual increases based on the previous year's amount starting in 2027. For 2031 and every fifth year after, the cap will be increased by the cumulative medical inflation (MEI) for physicians' services over the prior five years. The bill directly affects Medicare's payment structure for physicians by changing how the annual budget neutrality threshold for fee adjustments is calculated and adjusted.