HF402 Summary

• Establishes requirements for health care entity transactions involving entities with average revenue of at least $80,000,000 per year, including 60-day notice to attorney general and commissioner with detailed disclosures about entities, leadership, services, transaction terms, and financial analyses.

• Prohibits health care transactions that substantially lessen competition or create a monopoly or monopsony, with attorney general authority to enjoin or unwind transactions contrary to public interest.

• Requires data reporting to commissioner for health care transactions involving entities with $10,000,000 to $80,000,000 in average revenue, with 30-day advance notice and similar disclosure requirements.

• Extends moratorium on nonprofit health maintenance organization conversions from July 1, 2023 to July 1, 2026, restricting conversions to nonprofit entities or Minnesota nonprofit hospitals in the same integrated health system.

• Prohibits University of Minnesota health care facilities from being owned or controlled by for-profit or out-of-state entities unless attorney general determines it is in public interest, and requires commissioner study on regulation of nonprofit health maintenance organization conversions by June 30, 2024.