Medical Nutrition Therapy Act of 2026

The Medical Nutrition Therapy Act of 2026 (S.3934) was introduced in the Senate on February 26, 2026, and subsequently referred to the Committee on Finance. This bill seeks to significantly expand Medicare coverage for medical nutrition therapy beyond current provisions for diabetes and kidney disease, including conditions such as obesity, eating disorders, cancer, and HIV/AIDS. It also broadens the scope of professionals who can refer patients for these services to include physician assistants, nurse practitioners, clinical nurse specialists, and clinical psychologists for eating disorders. This bill does not specify a direct funding amount but rather expands coverage under the existing Medicare program. The mechanism is through increased utilization of services that would then be reimbursed by Medicare. This means that while no new appropriations are authorized by this bill, the total addressable market for medical nutrition therapy services under Medicare would increase, leading to higher revenue streams for providers. The financial impact would be realized through increased billing for services rather than direct government grants or contracts. Structural beneficiaries of this expansion would be healthcare providers and companies that offer or manage medical nutrition therapy services. Companies like UnitedHealth Group ($UNH), Centene Corporation ($CNC), and Humana Inc. ($HUM), as major Medicare Advantage providers, could see increased demand for these services within their networks. Healthcare staffing companies such as AMN Healthcare Services, Inc. ($AMN), which supplies dietitians and other healthcare professionals, could also benefit from increased demand for qualified personnel. Labcorp Holdings Inc. ($LH) and Quest Diagnostics Incorporated ($DGX) primarily focus on diagnostic testing and may see indirect benefits if expanded nutrition therapy leads to more diagnostic screenings, but their direct exposure to nutrition therapy services is limited. CVS Health Corporation ($CVS), with its pharmacy and MinuteClinic services, could also see an uptick in related health services. Examining recent market data, UnitedHealth Group ($UNH) has seen a 7-day change of +7.48% but a 30-day change of -2.57%, currently at $281.36. AMN Healthcare Services, Inc. ($AMN) is at $18.56, with a 7-day change of -0.91% and a 30-day change of -17.66%. Labcorp Holdings Inc. ($LH) is at $274.46, showing a +4.12% 7-day change and a -0.53% 30-day change. Quest Diagnostics Incorporated ($DGX) is at $198.96, with a +0.91% 7-day change and a -2.46% 30-day change. Centene Corporation ($CNC) is at $35.40, with a +11.32% 7-day change and a -18.19% 30-day change. Humana Inc. ($HUM) is at $182.65, with a +10.03% 7-day change and a +1.05% 30-day change. CVS Health Corporation ($CVS) is at $73.28, with a +4.48% 7-day change and a -6.88% 30-day change. These recent movements do not appear to be directly correlated with the introduction of S.3934, given its early legislative stage. The bill is currently in committee, and further legislative steps, including committee hearings, potential amendments, and votes in both chambers, would be required for it to advance. There is a related bill, HR6199, the Medical Nutrition Therapy Act of 2025, which indicates a sustained interest in this policy area across Congress.