This bill aims to curb medical costs that are not directly related to our systems of healthcare yet increasingly contribute to its soaring cost. One such cost is the inflated salaries paid to CEOs that rarely reflect quality of care, patient outcomes, or community benefits.

This legislation would require hospitals receiving public money to disclose financial assets and impose fees on publicly funded hospitals that compensate executives up to 50 times more than other employees. These fees will then be used to fund a Medicaid Reimbursement Enhancement Fund, which will increase Medicaid reimbursements to eligible hospitals.

Most acute care facilities in Massachusetts, whether they are for-profit or not-for-profit, receive over half of their revenues from the taxpayer. By limiting salaries, we can begin to claw back excess profits and ensure taxpayer dollars are dedicated exclusively to patient care and necessary services.