This bill, titled the "Health Over Wealth Act," seeks to amend the Public Health Service Act to impose significant new requirements on for-profit corporations, especially private equity funds, that own or are affiliated with health care entities. Its primary goal is to enhance transparency, mitigate risks, and ensure accountability within the health care sector to safeguard patient access, quality of care, and worker protections. A central provision establishes comprehensive health care ownership transparency , requiring covered firms to submit detailed financial and operational reports to the Secretary of Health and Human Services (HHS). These reports, which vary in detail based on whether a private equity fund controls the firm, include information on debt levels, fees, political spending, staffing, facility closures, and patient costs. The Secretary is mandated to make this data publicly available, conduct audits, and provide annual reports to Congress on identified trends and impacts on health care access, quality, and safety. The bill introduces a risk mitigation and accountability framework, particularly for private equity-controlled firms. This includes requiring mechanisms like escrow accounts to cover operating and capital expenditures for at least five years, ensuring continuity of essential services, and providing support during closures or service reductions. It also prohibits health care entities from entering into real estate investment trust (REIT) agreements that would weaken their financial status or endanger public health, requiring Secretarial review of such transactions. Furthermore, private equity firms would be required to obtain licenses from the Secretary of HHS to invest in or purchase health care entities. These licenses can be denied or revoked for non-compliance, price gouging, understaffing, or creating access barriers, with revocation necessitating divestment and potential civil monetary penalties. Fees collected from these licenses would be directed to support critical health care programs like the National Health Service Corps and community health centers. The legislation also establishes a Task Force , chaired by the HHS Secretary, to monitor the health care marketplace, address the role of private equity and consolidation, and develop recommendations to limit their influence. This task force, comprising experts, advocates, and health care staff, would identify emerging trends and propose legislative solutions. The Secretary is also granted authority to impose a moratorium on certain private equity acquisitions until the Task Force can study potential abuses. Additional provisions include amendments to the Investment Company Act of 1940, making it unlawful for registered investment companies to strip assets from health care entities or undermine care quality or access. Changes to the Bankruptcy Code would prioritize certain claims and require courts to consider regional health care access, quality, and staff retention when confirming bankruptcy plans for health care businesses. Finally, hospitals would face new requirements for discontinuation of services or closure , including 90-day advance notification, prohibition of essential service cuts during the notification period, submission of mitigation plans, and public review processes, with penalties for non-compliance.