Health Over Wealth Act

The Health Over Wealth Act requires private equity firms that own or control health care entities (including hospitals, clinics, nursing facilities, and mental health providers) to submit detailed annual reports to the government about their financial structure, staffing practices, political spending, and patient care metrics. It establishes a task force to monitor private equity's impact on health care access and quality, and creates new requirements for hospitals planning to close or discontinue services, including advance notice and mitigation plans. The bill also prohibits certain real estate transactions that could weaken health care entities and mandates licensing for private equity firms investing in health care, with penalties for non-compliance.