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New Legislation Targets Private Equity in Health Care

Posted by Argentum on June 12, 2024 at 2:24 PM

Yesterday, Senators Elizabeth Warren (D-MA) and Ed Markey (D-MA) introduced S. 4503, the Corporate Crimes Against Health Care Act of 2024 to address alleged private equity and corporate abuse in health care (see bill text and summary). It was introduced in response to the Steward Health Care bankruptcy affecting 8 hospitals in Massachusetts.

The legislation primarily targets hospitals, certain physician practices and nursing homes, but also includes assisted living communities, hospice programs, and home health agencies among other specified entities subject to the legislation. The bill also provides the Secretary of the Department of Health the authority to add other entities that “furnish health care items and services” and imposes a number of criminal, civil and financial sanctions and requirements on private equity and similar entities as well as executives.

Provisions in the legislation include:

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Topics: Private Equity

Argentum and ASHA Submit Joint Comments on Health Care Consolidation

Posted by Argentum on June 6, 2024 at 10:13 AM

Argentum and the American Seniors Housing Association (ASHA) sent a comment letter yesterday in response to the Request for Information (RFI) issued jointly by the Federal Trade Commission, Department of Justice, and Health and Human Services related to health care consolidation.

While the RFI does not directly include assisted living in its scope, we used it as an opportunity to share the role that private equity and REIT investment play in meeting the growing needs of our aging population who rely on senior living communities. We specifically called attention to the differences of assisted living compared to clinical health care settings, including their residential nature and role in helping to facilitate access to health care services, not being reliant on reimbursements from Medicare, Medicaid, or private insurance, and how private investment has been and will continue to be critical in meeting the housing and care needs of an aging population.

The RFI was issued following a virtual workshop led by the FTC in early March, “Private Capital, Public Impact: An FTC Workshop on Private Equity in Health Care.” There are not yet specific plans for regulations to be issued by the agencies based on this RFI, but we will be closely monitoring. More than 6,000 stakeholder comments were submitted in response to the RFI.

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Topics: Biden Administration

Sen. Hassan Visits New Hampshire Community

Posted by Argentum on May 30, 2024 at 10:30 AM

Earlier this week, U.S. Senator Maggie Hassan (D-NH) visited The Pines of Newmarket, a Merrill Gardens community in Southern New Hampshire.

The visit provided an opportunity for Senator Hassan to meet with residents and staff and to discuss several policy issues, including the Care Across Generations Act, the SENIOR Act, the Veterans Assisted Living Pilot Initiative, the need for foreign born workers, and issues with staffing agencies.

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Lawmakers from coast to coast are gaining a fresh perspective on the value of senior living by visiting communities. We need your help so that more lawmakers, at both the federal and state level, can tour our communities, meet with residents and staff, and better understand our policy issues and our proposed solutions.

We encourage all senior living communities to host visits. To get started, please review this a toolkit which includes sample invitations, a sample itinerary, best practices for preparing for your visit, and more.

DOWNLOAD THE TOOLKIT

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Topics: Community Tour

New Rules: HCBS Requirements, Staffing Mandate, Overtime

Posted by Argentum on April 23, 2024 at 4:42 PM

Earlier today, the U.S. Department of Labor finalized a rule that dramatically expands overtime eligibility for millions of salaried workers. The release of the rule comes a day after the Centers for Medicare and Medicaid Services (CMS) released final rules that would impose new requirements on Medicaid Home and Community Based Services (HCBS) providers and establish federal staffing requirements on long-term care facilities.

Argentum will be covering the impact of the rules on assisted living communities during tomorrow's Argentum Advocates member briefing. The session will also share updates on on new long-term care workforce legislation and the forthcoming “Health Over Wealth Act,” calling for greater transparency and accountability for private equity in health care, including assisted living.

Argentum Advocates Member Briefing
Wednesday, April 24, 2024
2:00 PM ET

Register Now!

Read more for a detailed summary of the new rules:

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Topics: HCBS, CMS

Argentum Hosts Capitol Hill Briefing on Older Americans Act

Posted by Argentum on April 19, 2024 at 4:22 PM

Argentum hosted an in-person briefing yesterday on Capitol Hill in partnership with the House 21st Century Long-Term Care Caucus on policy considerations for reauthorization of the Older Americans Act (OAA), which is due to expire in September.

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The briefing offered an opportunity to educate legislative staff on the assisted living care model and how it differs from other long-term settings, to promote our recent report, The Value of Assisted Living in America, and to share our legislative priorities, including the SENIOR Act and the Care Across Generations Act, both of which have provisions that may be incorporated into reauthorization of the OAA.

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Topics: Policy Briefing

LTC Workforce Legislation Introduced in Tandem with Aging Committee Hearing

Posted by Argentum on April 16, 2024 at 4:31 PM

The Senate Aging Committee held a hearing this morning, "The Long-Term Care Workforce: Addressing Shortages and Improving the Profession." The hearing focused on workforce issues across long-term care settings and served as a platform for Committee Chairman Bob Casey (D-PA) to promote S. 4120, the “Long-Term Care Workforce Support Act,” which he introduced yesterday with Senators Tim Kaine (D-VA) and Tammy Baldwin (D-WI).

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Topics: Congressional Hearing

Rep. Jayapal Visits Seattle Community

Posted by Argentum on April 2, 2024 at 2:45 PM

U.S. Representative Pramila Jayapal (D-WA) recently visited Truewood by Merrill, First Hill, a Merrill Gardens community in Seattle, Washington.

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Lawmakers from coast to coast are gaining a fresh perspective on the value of senior living by visiting communities. We need your help so that more lawmakers, at both the federal and state level, can tour our communities, meet with residents and staff, and better understand our policy issues and our proposed solutions.

We encourage all senior living communities to host visits. To get started, please review this a toolkit which includes sample invitations, a sample itinerary, best practices for preparing for your visit, and more.

DOWNLOAD THE TOOLKIT

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Topics: Community Tour

Briefing: Capitalizing on the Public Policy Institute Momentum

Posted by Argentum on March 22, 2024 at 12:21 PM

Calling all Argentum Advocates: Next week's member-exclusive policy briefing will share key insights from the recent Public Policy Institute (PPI) and how we can continue the momentum from the event over the coming weeks.

Argentum's PPI is the industry's largest advocacy event, and this year 130 advocates from 35 states made their voices heard in our largest event to-date, holding 151 meetings with Congressional offices. In addition to telling the story of assisted living and reframing the narrative through the the  Assisted Living" campaign, advocates helped to promote the SENIOR Act (H.R. 7605), the Care Across Generations Act (H.R. 6835), and the veterans assisted living pilot program (H.R. 1815, S. 495).

This month's session will share updates on our legislative priorities (including details on the brand new SENIOR Act), recent regulatory changes impacting providers, and how senior living advocates can continue the conversations from Capitol Hill to build on the momentum of PPI.

Argentum Advocates Member Briefing
Wednesday, March 27, 2024
2:00 PM ET

Register Now!

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Topics: Policy Briefing

By The Numbers: 2024 Public Policy Institute

Posted by Argentum on March 21, 2024 at 1:34 PM

Senior living advocates from 35 states came together last week for Argentum's Public Policy Institute, where they held 151 meetings with Congressional offices.

Advocates sought support for the SENIOR Act (H.R. 7605), which was introduced just prior to the event by Representatives Lori Trahan (D-MA) and Brian Fitzpatrick (R-PA) and includes a cost-reduction program for low-income seniors to afford assisted living as well as expansion of workforce programs to meet the growing need for caregivers.

Advocates also promoted the Care Across Generations Act (H.R. 6835) to foster intergenerational connections by co-locating childcare and senior living communities, and the veterans assisted living pilot program legislation (H.R. 1815, S. 495) to finally give veterans a choice in their long-term care.

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The event included remarks from Representatives Lori Trahan, Marilyn Strickland, Annie Kuster, Debbie Dingell, and Susan Wild, and several leading female members of Congress joined the Women in Leadership (WIL) event including Reps. Claudia Tenney, Nicole Malliotakis, and Suzanne Bonamici.

2024 Public Policy Institute Highlights

  • Representatives Trahan & Fitzpatrick introduced the bipartisan SENIOR Act (H.R. 7605)
  • Secured support for a Senate companion to the Care Across Generations Act (H.R. 6835)
  • Organized upcoming in-person House Long-Term Care Caucus Congressional briefing on the Older Americans Act
  • Built continued bipartisan support for the Expanding Veterans' Options for Long-Term Care Act (S. 495 & H.R. 1815)
  • Launched Argentum's I Love Assisted Living campaign, the new Standing with Seniors website, and the 2024 Value of Assisted Living in America policy paper
  • 151 Congressional meetings, held by 130 attendees from 35 states
  • 30 members of Congress attending across general sessions, receptions, and in-person meetings

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Topics: PPI

New "Value of Assisted Living" Report Shows High Satisfaction, Longer Lifespans, and Fewer Hospitalizations

Posted by Argentum on March 20, 2024 at 9:45 AM

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Argentum released an updated edition of The Value of Assisted Living in America. The industry-leading report provides a comprehensive review of the benefits of assisted living in high resident satisfaction rates, improving quality of life, and saving Medicare and Medicaid funding along with increased workforce productivity.

Among the reports findings include:

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Topics: Value of Assisted Living

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Support the Advocacy Fund

The Advocacy Fund gives Argentum the ability to keep the senior living industry at the forefront of legislative and regulatory agendas at both the federal and state level. 

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Host a Member of Congress

Download Argentum's complimentary toolkit for information on how to host a community visit and provide the best perspective about how issues impact your business, your employees and your residents. 

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