S1410

The 'Find It Early Act' (S.1410) amends Section 2713(a) of the Public Health Service Act to require group health plans and individual health insurance coverage to provide breast cancer screenings with no cost-sharing for individuals at increased risk or with dense breast tissue. This includes 2D/3D mammograms, breast ultrasounds, breast MRI, and molecular breast imaging. This is not a funding bill; it is a mandate on insurance coverage, shifting costs from patients to insurers and increasing utilization of these services. The money trail for this bill flows directly to diagnostic imaging providers and laboratories. As cost-sharing is eliminated, more eligible individuals will undergo these screenings, leading to a direct increase in procedure volumes. Companies that manufacture and service imaging equipment, as well as those that operate diagnostic centers, will see increased demand. Insurance companies will bear the financial burden of these additional screenings, leading to increased claims payouts. Historically, similar mandates have driven utilization. For example, when the Affordable Care Act (ACA) mandated coverage for preventive services without cost-sharing in 2010, utilization of many screenings increased. While not directly comparable in scope, the principle of removing financial barriers leading to higher service uptake is established. Specific to breast cancer screening, states that have passed similar mandates for dense breast tissue notification and coverage have seen an increase in advanced imaging utilization. For instance, after Connecticut passed its dense breast tissue law in 2009, studies showed an increase in ultrasound and MRI use. Specific winners include companies involved in medical imaging technology and diagnostic services. GE HealthCare Technologies Inc. ($GEHC) manufactures a wide range of breast imaging equipment, including mammography, ultrasound, and MRI systems. HCA Healthcare, Inc. ($HCA) operates numerous hospitals and outpatient imaging centers that perform these screenings. LabCorp ($LH) and Quest Diagnostics ($DGX) provide diagnostic services, though their direct involvement in imaging is less pronounced than dedicated imaging centers. Hologic, Inc. ($HOLX) is a major player in breast health, offering 3D mammography systems and breast biopsy devices. Insurance companies like UnitedHealth Group ($UNH) and Elevance Health ($ELV) will face increased claims costs due to the mandate, which will negatively impact their medical loss ratios. This bill is currently in committee. If it passes committee, it will move to a floor vote in the Senate. If passed by both chambers and signed into law, the provisions would take effect, likely after a specified implementation period, leading to a sustained increase in demand for breast cancer screening services.