Health Over Wealth Act
Sponsored By: Representative Jayapal, Pramila [D-WA-7]
Introduced
Summary
This bill would create a national regime to curb private equity power in health care and build a public, auditable __ownership transparency__ system. It would force deep, year-by-year financial and operational reporting and create licensing, risk-mitigation, and enforcement tools aimed at protecting access and quality.
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Bill Overview
Analyzed Economic Effects
5 provisions identified: 2 benefits, 0 costs, 3 mixed.
Who must report health care ownership
The bill would define which for‑profit companies are 'covered firms' and require them to file detailed reports. Private equity‑controlled firms and other covered firms would submit annual data going back 10 years on ownership, debt, fees, staffing, charges, political spending, and more. HHS would publish the data, audit filings, and send noncompliance reports to the National Practitioner Data Bank.
Protecting hospitals, workers, and access
The bill would add rules to reduce abrupt hospital closures and service cuts. Hospitals would need to notify HHS at least 90 days before closing and provide mitigation plans, with a 45‑day public comment period. HHS could require private equity‑controlled firms to hold escrow or cash reserves covering not less than five years of operating and capital costs and could review or block REIT sale/lease deals that weaken provider finances. Bankruptcy changes would raise pension withdrawal claims and require courts to weigh regional access, quality, and staff retention when approving plans.
Licensing private equity in health care
The bill would require private equity firms to get an HHS license before buying or investing in health care providers. HHS could deny or revoke licenses for harmful practices and force divestment. License application fees would be deposited into a special account and used for health workforce programs and safety‑net hospitals. The Secretary could also impose civil fines up to $10,000 per violation.
Task Force on private equity
The bill would create a Secretary‑led Task Force within 180 days to study private equity and consolidation in health care and report to Congress each year. The Task Force would identify harmful practices and recommend rules and best practices. The Secretary could temporarily block some takeovers while the Task Force studies abuses.
REIT tax change for health property
The bill would change how amounts tied to 'qualified health care property' count in REIT gross income. The new tax treatment would apply to taxable years beginning after enactment. This could change tax bills and financing costs for REITs and owners of health‑care real estate.
Sponsors & CoSponsors
Sponsor
Jayapal, Pramila [D-WA-7]
WA • D
Cosponsors
Rep. Deluzio, Christopher R. [D-PA-17]
PA • D
Sponsored 7/23/2026
Rep. Clarke, Yvette D. [D-NY-9]
NY • D
Sponsored 7/23/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov