; (II) in subclause (VI)— (aa) by striking for a subsequent year and inserting for 2021 ; and (bb) by striking the period at the end and inserting a semicolon; and (III) by adding at the end the following new subclauses: (VII) for 2022, is equal to $3,100; or (VIII) for a subsequent year, is equal to the amount specified in this subparagraph for the previous year, increased by the annual percentage increase described in paragraph (6) for the year involved. ; and (ii) in clause (ii), by striking clause (i)(II) and inserting clause (i) ; (C) in subparagraph (C)(i), by striking and for amounts and inserting and for a year preceding 2022 for amounts ; and (D) in subparagraph (E), by striking In applying and inserting For each of 2011 through 2021, in applying . (b) Decreasing reinsurance payment amount Section 1860D–15(b)(1) of the Social Security Act ( 42 U.S.C. 1395w–115(b)(1) ) is amended— (1) by striking equal to 80 percent and inserting equal to— (A) for a year preceding 2022, 80 percent ; (2) in subparagraph (A), as added by paragraph (1), by striking the period at the end and inserting ; and ; and (3) by adding at the end the following new subparagraph: (B) for 2022 and each subsequent year, the sum of— (i) an amount equal to 20 percent of the allowable reinsurance costs (as specified in paragraph (2)) attributable to that portion of gross covered prescription drug costs as specified in paragraph (3) incurred in the coverage year after such individual has incurred costs that exceed the annual out-of-pocket threshold specified in section 1860D–2(b)(4)(B) with respect to applicable drugs (as defined in section 1860D–14B(g)(2))