Health Over Wealth Act
Latest action (23 Jul 2026): Introduced
What this bill does
The Health Over Wealth Act would add a new title to the Public Health Service Act directing the Secretary of Health and Human Services to regulate for-profit corporations, and their affiliates, that own health care providers such as hospitals, physician practices, nursing facilities, hospice programs, and behavioral health or opioid treatment providers. It would require these "covered firms," particularly those controlled by private equity funds, to report detailed financial, ownership, staffing, and political-spending information to HHS on a recurring basis, which would be made public and audited. The Secretary would also establish mechanisms to mitigate financial risk—such as escrow requirements or minimum capital commitments—restrict certain real estate sale-leaseback arrangements with real estate investment trusts, and create a licensing system for private equity firms investing in health care, with authority to deny, revoke licenses, and impose civil penalties for noncompliance or harmful practices.
The bill would primarily affect for-profit health care corporations, their private equity owners or affiliates, and HHS, which would gain new administrative, enforcement, and litigation responsibilities. Health care workers, patients, and communities served by these facilities are identified as intended beneficiaries, since the reporting and risk-mitigation provisions are aimed at addressing concerns about facility closures, staffing reductions, and financial practices linked to private equity ownership.
The bill was introduced in the Senate on July 23, 2026, by Senator Edward Markey and several cosponsors, and has been referred to the Senate Committee on Finance. As with most introduced legislation, it would need committee consideration and votes in both chambers before it could become law; no further action has occurred yet.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official summary
This bill is in the first stage of the legislative process. It was introduced into Congress on July 23, 2026. It will typically be considered by committee next before it is possibly sent on to the House or Senate as a whole.
Common questions
- What does S. 5112 do?
- The Health Over Wealth Act would add a new title to the Public Health Service Act directing the Secretary of Health and Human Services to regulate for-profit corporations, and their affiliates, that own health care providers such as hospitals, physician practices, nursing facilities, hospice programs, and behavioral health or opioid treatment providers. It would require these "covered firms," particularly those controlled by private equity funds, to report detailed financial, ownership, staffing, and political-spending information to HHS on a recurring basis, which would be made public and audited. The Secretary would also establish mechanisms to mitigate financial risk—such as escrow requirements or minimum capital commitments—restrict certain real estate sale-leaseback arrangements with real estate investment trusts, and create a licensing system for private equity firms investing in health care, with authority to deny, revoke licenses, and impose civil penalties for noncompliance or harmful practices. The bill would primarily affect for-profit health care corporations, their private equity owners or affiliates, and HHS, which would gain new administrative, enforcement, and litigation responsibilities. Health care workers, patients, and communities served by these facilities are identified as intended beneficiaries, since the reporting and risk-mitigation provisions are aimed at addressing concerns about facility closures, staffing reductions, and financial practices linked to private equity ownership. The bill was introduced in the Senate on July 23, 2026, by Senator Edward Markey and several cosponsors, and has been referred to the Senate Committee on Finance. As with most introduced legislation, it would need committee consideration and votes in both chambers before it could become law; no further action has occurred yet.
- Has S. 5112 become law?
- Not yet. As of 23 Jul 2026, S. 5112 is introduced.
- Who sponsored S. 5112?
- S. 5112 was sponsored by Sen. Edward “Ed” Markey [D-MA] (Democrat-MA), with 7 cosponsors.
- What's the latest action on S. 5112?
- Introduced (23 Jul 2026).
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