On May 7, CMS is publishing a notice updating Medicare IPS PPS rates for RY 2009 (July 1, 2008 through June 30, 2009). The rule provides a 3.2% market basket update in RY 2009, but this increase is partially offset by a -0.5% reduction resulting from the transition to full PPS rates in RY 2009, and a 0.1% reduction associated with the sunset of a stop-loss provision.