This bill establishes a program through which entities may implement alternative payment models for providing care to individuals who (1) are enrolled in Medicare, Medicaid, or both; (2) have advanced chronic conditions (e.g., late-stage cancer); and (3) have demonstrated cognitive impairment or functional limitations.

Specifically, the Centers for Medicare & Medicaid Services must award cooperative agreements to specified organizations to provide person- and family-centered care for such individuals, particularly through collaboratives with providers and community-based organizations. Participants may receive waivers from certain coverage requirements (e.g., Medicare hospice, skilled nursing facility, and home health services requirements) to implement program initiatives and must report data using identified quality measures.