; and (B) in clause (iii), by striking section 1860D–2(b)(2) and inserting section 1860D–2(b)(2)(A) . (2) Effective date The amendments made by paragraph (1) shall apply with respect to plan year 2022 and each subsequent plan year. 116. Growth rate of Medicare part D out-of-pocket cost threshold (a) Providing Medicare part D beneficiaries with certain 2020 offset payments Section 1860D–2(b)(4) of the Social Security Act ( 42 U.S.C. 1395w–102(b)(4) ) is amended by adding at the end the following new subparagraph: (F) 2020 offset payments (i) In general Subject to clause (iv), the Secretary shall provide for payment from the Medicare Prescription Drug Account as follows: (I) In the case of a specified individual (as defined in clause (ii)(I)) who as of the last day of a calendar quarter in 2020 has incurred costs for covered part D drugs so that the individual has exceeded the annual out-of-pocket threshold applied under subparagraph (B)(i)(V) for 2020, payment to the individual by not later than 15th day of the third month following the end of such quarter of the amount by which such threshold so applied exceeded the target threshold for 2020. (II) In the case of a specified individual who is not described in subclause (I) and who as of the last day of 2020 has incurred costs for covered part D drugs so that the individual has exceeded the target threshold for 2020, payment to the individual by not later than December 31, 2021, of the amount by which such incurred costs exceeded the target threshold for 2020. (ii) Definitions For purposes of this subparagraph: (I) Specified individual The term specified individual means an individual who— (aa) is enrolled in a prescription drug plan or an MA– PD plan; (bb) is not enrolled in a qualified retiree prescription drug plan