The Fair Reimbursement and Assisted Living Cost Reporting Act of 2023 aims to enhance transparency, access, and sustainability of home- and community-based services for Medicaid beneficiaries eligible for the Living Choices waiver. The Act introduces a new section to the Arkansas Code, which mandates the Department of Human Services to produce an annual report for the House and Senate Committees on Public Health, Welfare, and Labor, as well as the Legislative Council. This report will include comprehensive data such as aggregate cost reports from assisted living providers, the number of available beds for Medicaid beneficiaries, and a comparison of rural and urban costs.

Additionally, the Act stipulates that the Department of Human Services must consider the data from these reports when making any amendments or changes to reimbursement rates related to the Living Choices waiver. The department is also required to report any discrepancies between the cost study and the waiver reimbursement rates, along with potential reasons for these differences. This legislation is designed to ensure that the needs of vulnerable individuals are met while maintaining fiscal responsibility.