Expanded Telehealth Access Act

The Expanded Telehealth Access Act, S.3834, was introduced in the Senate on February 11, 2026, and subsequently referred to the Committee on Finance. This bill proposes to amend Section 1834(m) of the Social Security Act to permanently expand the scope of practitioners eligible for payment for telehealth services under Medicare. Specifically, it includes qualified audiologists, occupational therapists and their assistants, physical therapists and their assistants, and speech-language pathologists. The bill also allows for additional providers or suppliers as specified by the Secretary. This bill does not authorize or appropriate a specific funding amount. Instead, it expands the types of services and providers that Medicare will cover for telehealth, which would increase the overall volume of telehealth services reimbursed by Medicare. The mechanism is regulatory expansion, which would lead to increased revenue opportunities for telehealth service providers and potentially diagnostic companies that support these expanded services. The bill's impact would be realized through increased utilization of telehealth services by Medicare beneficiaries, leading to higher claims processed by the Centers for Medicare & Medicaid Services (CMS) for the newly covered practitioners. Structural beneficiaries of this legislative expansion would include telehealth platform providers such as Teladoc Health ($TDOC) and American Well Corporation ($AMWL), as their services would become accessible to a broader range of Medicare patients through these newly included practitioners. Diagnostic companies like Labcorp Holdings Inc. ($LH) and Quest Diagnostics Incorporated ($DGX) could also see an indirect benefit if the expanded telehealth services lead to an increase in remote diagnostic orders. The bill's early stage means its passage is not guaranteed, but its bipartisan sponsorship (Sen. Daines, R-MT, and Ms. Smith) suggests some legislative support. As of April 7, 2026, Teladoc Health ($TDOC) is trading at $5.28, down 3.12% over the last 7 days but up 3.94% over the last 30 days. American Well Corporation ($AMWL) is at $5.57, up 7.74% over the last 7 days but down 0.71% over the last 30 days. Labcorp Holdings Inc. ($LH) is at $273.4, up 2.47% over the last 7 days and 1.38% over the last 30 days. Quest Diagnostics Incorporated ($DGX) is at $199.7, up 1.9% over the last 7 days and 0.25% over the last 30 days. The market has not shown a distinct reaction to this early-stage bill for these companies, with their recent price movements reflecting broader market dynamics or company-specific news rather than this specific legislative development. The next legislative steps for S.3834 involve consideration by the Senate Committee on Finance. If approved, it would then proceed to a vote in the full Senate. Following Senate passage, it would need to be introduced and passed by the House of Representatives and then signed into law by the President. Given its early stage, the timeline for potential enactment is uncertain and could extend over several months or even years.