June 22, 2020 - Issue: Vol. 166, No. 114 — Daily Edition116th Congress (2019 - 2020) - 2nd Session

[Extensions of Remarks]
[Pages E557-E558]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




       INTRODUCTION OF THE COVID-19 HOSPITAL LOAN FORGIVENESS ACT

                                  _____
                                 

                           HON. MARCY KAPTUR

                                of ohio

                    in the house of representatives

                         Monday, June 22, 2020

  Ms. KAPTUR. Madam Speaker, I rise to introduce the COVID-19 Hospital 
Loan Forgiveness Act to provide immediate, 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 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.

[[Page E558]]

  Without further support, hospitals will face another financial crisis 
just months from now as the government begins to withhold Medicare 
payments for services provided after the pandemic fades and until the 
loans are repaid. While the $175 billion provider grant program, 
designed to provide support to all providers, is helpful, much more 
support is needed,
  This legislation will provide Medicare Accelerated and Advance 
Payments loan forgiveness to ensure the additional financial support 
hospitals and other providers direly need. Forgiveness 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 forgiven would be obligated to abstain from balance or 
surprise billing any patient for COVID-related treatment.
  The bill outlines: forgiveness would be for health care related 
expenses or lost revenues that are directly attributable to COVID-19, 
providers electing to have their advance payment loans forgiven would 
be obligated to abstain from balance billing any patient for COVID-
related treatment, and criteria for transparency and accountability of 
the loan forgiveness, including no executive compensation.
  Hospitals across my district have shared that in the absence of more 
financial support, including this forgiveness, 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 and fellow Ohioan Representative Bob Gibbs 
for his bipartisan work on this, and our growing list of bipartisan 
cosponsors--we look forward to working with the Senate to further 
action on hospital loan forgiveness.

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