S. 4085 — Take Back Our Hospitals Act of 2026

This section establishes a prohibition on Medicare payments to hospitals or skilled nursing facilities owned or controlled by a covered firm (i.e., a private equity fund, a corporation owned or controlled by such a fund, or a real estate investment trust) or its affiliate, with control defined to include direct or indirect ownership of 10% or more of voting securities. Existing hospitals and skilled nursing facilities owned or controlled by such firms as of the date of enactment are exempt from the prohibition for three years; violations trigger notice, hearing, and judicial review under SSA section 1128(f), with joint and several liability imposed on the covered firm or affiliate.