To whom it may concern:
I am writing today to urge your support in passing the Hospital Profit Transparency and Fairness Act. We deserve to know where our taxpayer dollars are being spent in Massachusetts hospitals, and this law will give us the transparency we need.
The Hospital Profit Transparency and Fairness Act will require hospitals to be transparent about their financial holdings and to limit and claw back excessive profits to ensure taxpayer dollars are dedicated exclusively to safe patient care and necessary services for all communities in the Commonwealth. Specifically:
It requires any hospital receiving taxpayer dollars to disclose all financial assets including those held in offshore accounts.
It assesses a clawback penalty on any hospital that provides its CEO with an annual compensation package more than 100 times the compensation of the hospital’s lowest paid, full time employee.
It assesses a claw back penalty for any hospital that has a profit margin beyond 8 percent.
It directs any funds realized from the claw back penalties to a new fund that will be used to preserve and ensure access to essential health care services.
It establishes a new fund called the Medicaid Reimbursement Enhancement Fund that will be administered by the MA Health Policy Commission and funded by the claw backs mentioned above.
[Your comment here]
For these reasons, I am urging your support of this bill.
Sincerely,
[Your name here]