The "Keep Wall Street Out of Health Care Act" aims to enhance consumer protection and oversight of health care transactions in New Hampshire by introducing a new chapter, Chapter 358-U. This chapter defines "material health care transactions" involving changes in control of health care entities and requires parties to provide written notice to the Department of Justice at least 60 days before closing. The notice must include detailed information about the transaction, such as ownership structures and potential impacts on competition and consumer welfare. The Department of Justice is empowered to review these transactions and can prohibit those likely to harm competition or consumer interests.

Additionally, the bill establishes a health insurance study committee to analyze the practices of private health insurers and their effects on consumers and the health care marketplace. This committee will consist of members from both legislative chambers and is required to report its findings by November 30, 2026. The legislation also includes provisions to protect the independent clinical judgment of health care professionals from interference by private equity entities. While the bill includes new legal language, specific insertions and deletions are not detailed in the provided text. The act is set to take effect immediately upon passage, with other sections becoming effective on July 1, 2027.