GLOBAL RESEARCH ARCHIVE
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Industry Update Equity Research
House to Take Up Senate-Passed Reconciliation Bill… Continued from page 1. The House could vote
on the Senate-passed bill early this week and finally wrap up fiscal year (FY) 2026 appropriations. For
FY2027, the House passed the Agriculture-Food and Drug Administration (FDA) funding bill, and the
House Appropriations Committee plans to mark up the Labor-Health and Human Services (HHS) bill
this week, unless it is delayed by reconciliation activity.
Long-Awaited IDR Rule Met With Mixed Responses… Continued from page 1. Key changes include
lowering the per-party, per-dispute administrative fee from $115 to $15, laying the groundwork
for a modernized IDR portal called the IDR Gateway, formalizing the open negotiation process that
occurs before arbitration, revising batching rules, and increasing information and documentation
requirements that the Administration hopes will reduce the number of ineligible disputes and cut
down on systemic bottlenecks. Both payer and provider groups initially applauded the operational
changes, but some payer groups continue to call for reforms to the IDR system to address alleged
gaming or abuse by providers and private equity-backed organizations.
CMS Issues Medicaid Work Requirements Interim Final Rule With Controversial Medical Frailty
Provisions… Continued from page 1. Specifically, CMS will require beneficiaries to not only meet
the criteria outlined in OBBBA, such as having a substance use disorder or having a serious complex
medical condition, but to also justify how their condition prevents them from meeting the monthly
80-hour community engagement requirement. CMS is also preventing states from expanding the
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