Health Over Wealth Act

The Health Over Wealth Act requires for-profit corporations that own or invest in hospitals, nursing facilities, and other health care providers to submit detailed annual reports to the government regarding their financial status, debt levels, staffing changes, and political spending. To protect public access to care, the bill mandates that hospitals must provide at least 90 days of notice before closing or discontinuing essential services and must submit a mitigation plan to ensure patients and staff are not left without support. Additionally, the legislation establishes a new licensing system for private equity firms investing in health care, gives the government authority to block risky mergers or acquisitions, and changes bankruptcy laws to prioritize the repayment of employee pension liabilities over other debts.