Innovative Maternal Payment And Coverage To Save Moms Act or the IMPACT to Save Moms Act This bill requires the Centers for Medicare & Medicaid Services to establish the Perinatal Care Alternative Payment Model Demonstration Project to allow states to test payment models for maternity care, including postpartum care, under Medicaid and the Children's Health Insurance Program (CHIP). Additionally, the Medicaid and CHIP Payment and Access Commission must report on specified information relating to the continuity of coverage for pregnant and postpartum women under Medicaid and CHIP.