To direct the Administrator of the Centers for Medicare & Medicaid Services to implement the Perinatal Care Alternative Payment Model Demonstration Project to test various payment models with respect to maternity care provided to pregnant and postpartum individuals, and for other purposes.

HR8907 was introduced in the House on May 19, 2026, by Rep. Schakowsky (D-IL) and has 70 cosponsors. The bill directs the Administrator of the Centers for Medicare & Medicaid Services (CMS) to implement the Perinatal Care Alternative Payment Model Demonstration Project to test various payment models for maternity care. It was referred to the House Committee on Energy and Commerce, which is the first legislative step. The bill is in an early stage with no committee hearings, markups, or votes scheduled. Because this is a demonstration project authorization, no specific funding amount is appropriated; any funding would require separate appropriations. The bill does not mandate changes to commercial insurance or directly affect revenue streams of publicly traded healthcare companies. Providers participating in the demonstration project would be limited to those voluntarily joining CMS programs. Given the early legislative stage, bipartisan nature is uncertain despite the sponsor's party, and the path to enactment is long. There are no direct ticker implications now; investors should monitor committee activity and any future appropriations language for materiality.