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The health over wealth act

Senator Edward J. Markey (D-Mass.) chair of the Health, Education, Labor, and Pensions (HELP) Subcommittee on Primary Health and Retirement Security, and Congresswoman Pramila Jayapal (WA-07), member of the House Judiciary Subcommittee on Health, Employment, Labor, and Pensions, introduced the Health Over Wealth Act on July 25, 2024, legislation that would require greater transparency for private equity firms and for-profit companies that own health care entities, including hospitals, nursing homes, and mental or behavioral health facilities. The legislation would put safeguards in place to protect workers, patients, and health care quality, access, and safety; create stronger accountability measures for corporate greed; and close tax loopholes that benefit real estate investment trusts making money off of health care property. A discussion draft of the bill was first announced in Boston on April 3 at the HELP Subcommittee on Primary Health and Retirement Security hearing titled, “When Health Care Becomes Wealth Care: How Corporate Greed Puts Patient Care and Health Workers at Risk,” chaired by Senator Markey.