Bill
SD 993
Overview: SD 993, "An Act to ensure timely health care cost reporting and protecting not-for-profit patient care", is a proposed bill that has been introduced.Purpose and Intent: T
Overview: SD 993, "An Act to ensure timely health care cost reporting and protecting not-for-profit patient care", is a proposed bill that has been introduced.
Purpose and Intent: The main goals of this bill are to improve transparency around health care costs and protect the financial viability of not-for-profit health care providers.
Key Provisions:
- Requires all health care providers and insurers to submit detailed cost and pricing data to a state oversight agency on a quarterly basis
- Prohibits not-for-profit hospitals and health systems from using more than 15% of their annual operating budgets for administrative and executive compensation
- Establishes a state fund to provide financial assistance to not-for-profit providers that demonstrate financial hardship
Affected Parties and Impacts: Health care providers, insurers, and patients will all be affected by the increased cost reporting requirements and protections for not-for-profit care. Patients may see more transparency around health care pricing, while not-for-profit providers could benefit from financial assistance.
Procedural and Timeline Considerations: As a proposed bill, SD 993 has not yet been enacted into law. It will need to go through the full legislative process, including committee hearings and votes in both chambers, before potentially being signed into law by the Governor.
Compiled from official sources — confirm details with the bill’s official record.
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