To amend title XVIII to reform the Medicare Advantage program.

HR 3467 reforms Medicare Advantage (MA) by requiring most plans to use fixed payments per member (capitated payments) starting in 2028, with exceptions for existing plans and special needs plans. It modifies payments by reducing blended benchmarks, changing how health status risk adjustments are calculated (using only face-to-face/telehealth diagnoses), and eliminating quality-based payment increases. The bill mandates automatic enrollment into the lowest-premium MA plan for eligible beneficiaries starting in 2028, with a 3-year enrollment lock-in period unless a hardship event occurs. Additionally, it requires MA plans to include hospice care coverage (with a 2028 transition exception) and adds an exception for durable medical equipment and Part D drugs under the Stark Law.