# Summary of H.R. 9156 — Health Over Wealth Act
This bill creates new federal oversight of for-profit corporations that own or control healthcare facilities, particularly those backed by private equity firms. The legislation requires covered healthcare companies to report detailed financial information to the Department of Health and Human Services, including debt levels, fees paid to private equity investors, staffing data, and political spending. Reports must be made publicly available, and the Secretary of HHS will conduct annual audits and submit reports to Congress analyzing trends in healthcare ownership and its impact on access, quality, and patient safety.
The bill establishes licensing requirements for private equity firms investing in healthcare entities and grants the Secretary authority to deny or revoke licenses based on violations or harmful practices like understaffing or price gouging. Healthcare entities owned by private equity firms must establish escrow accounts to cover five years of operating expenses and provide funding if facilities close or reduce essential services. The legislation also restricts how real estate investment trusts can lease property to healthcare entities and prohibits deals that weaken healthcare financial stability or endanger public health.
Additionally, the bill creates a task force to monitor private equity and consolidation trends in healthcare and develop recommendations to protect access and quality. It amends bankruptcy law to prioritize pension obligations and requires hospitals to notify the federal government 90 days before closing or discontinuing major services, with a public comment period and potential requirement to develop mitigation plans. The bill also amends tax law to restrict real estate investment trust income from healthcare property. No specific funding amounts or implementation timelines are specified, though the 180-day appointment deadline applies to task force members.
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