S4202

The Mental Health Access and Provider Support Act of 2026 (S.4202) was introduced in the Senate on March 25, 2026, by Sen. Barrasso (R-WY) with bipartisan cosponsors. It was read twice and referred to the Committee on Finance. The bill amends the Social Security Act to increase Medicare Part B payment rates for services provided by psychologists and clinical social workers from 75% to 85% of the fee schedule amount, effective January 1, 2027. This is an authorization of a payment rate change, not an appropriation of new funds. The bill is in early legislative stage; it requires committee markup, Senate floor vote, House passage (a companion bill HR8081 exists), and presidential action. The bipartisan sponsorship and House companion increase the probability of eventual enactment. The primary beneficiaries are behavioral health providers that bill Medicare for these services. Pure-play companies like Acadia Healthcare ($ACHC) and Universal Health Services ($UHS) have the highest direct exposure. Diversified healthcare giants like UnitedHealth Group ($UNH) through Optum Behavioral Health, and HCA Healthcare ($HCA) through its behavioral health units, also stand to benefit but with less concentrated impact. The timeline for passage is uncertain; the bill could move in the current Congress or carry over. Investors should monitor committee hearings and markups as key catalysts.