[Congressional Record Volume 167, Number 36 (Thursday, February 25, 2021)]
[Extensions of Remarks]
[Pages E168-E169]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




    INTRODUCTION OF THE COVID-19 HOSPITAL AND HEALTH PROVIDER LOAN 
                             CONVERSION ACT

                                 ______
                                 

                           HON. MARCY KAPTUR

                                of ohio

                    in the house of representatives

                      Thursday, February 25, 2021

  Ms. KAPTUR. Madam Speaker, I rise today to re-introduce the COVID-19 
Hospital Loan Conversion Act to provide additional, vitally needed 
relief to hospitals and health care providers who are under water as a 
result of the COVID-19 pandemic.
  Our nation's hospitals have invested heavily to prepare for and care 
for us during the coronavirus pandemic. They canceled tens-of-thousands 
of elective surgeries and non-emergent patient tests at the 
government's request to help ensure adequate hospital capacity, 
preserve gear and equipment, and reduce the risk of unnecessary patient 
spread. This major shift has put some of America's hospitals on the 
brink of financial disaster.
  While the $175 billion provider grant program, designed to provide 
support to all providers, is helpful, more support is needed.
  This legislation will convert Medicare Accelerated and Advance 
Payments loans to grants to ensure the additional financial support 
hospitals and other providers direly need.
  Loan conversion would be for health care related expenses or lost 
revenues that are directly attributable to coronavirus. And, just like 
the requirement in the provider grant program, providers electing to 
have their advance payment loans converted would be obligated to 
abstain from balance or surprise billing any patient for COVID-related 
treatment.
  The bill also outlines criteria for transparency and accountability 
of the loan conversion, including no executive compensation.
  Hospitals across my district have shared that in the absence of more 
financial support, including this assistance, it is possible some 
hospitals will be forced to close or significantly scale back 
operations.
  This would be a tragic consequence, especially if the country is hit 
with another round of the viral epidemic in the near future. I thank my 
colleague, Representative Bob Gibbs, for his bipartisan work on this. 
We look to leadership and the Senate for further action on hospital 
loan conversion.

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