Substitute House Bill No. 6873 seeks to enhance the regulatory framework governing transactions involving health care entities by introducing new definitions and modifying existing terms within Section 19a-486i of the general statutes. Key insertions include definitions for "Advanced practice registered nurse," "Group practice," "Health care entity," "Management services organization," and "Private equity entity," while outdated definitions such as "Health care provider" and "Group practice" are deleted. The bill also extends the notification timeline for mergers and acquisitions from thirty to sixty days prior to the effective date of the transaction and mandates that detailed information about the transaction, including ownership interests and the nature of relationships among parties, be submitted to the Attorney General.

Additionally, the bill imposes penalties for non-compliance, allowing for fines of up to $1,000 per day for entities that fail to adhere to reporting requirements or provide false information. It expands the definition of "material change transactions" to include corporate mergers and acquisitions involving significant assets, and it requires that hospitals and group practices file annual reports detailing their affiliations. The Attorney General is granted authority to request further information and to consult with the Office of Health Strategy regarding the impact of transactions on health care access, quality, and affordability. The bill is set to take effect on October 1, 2025, and aims to ensure that health care transactions are conducted transparently and in the public interest.

Statutes affected:
Governor's Bill:
PH Joint Favorable:
File No. 590: