Delaying the rebasing of the nursing home payment rates to 2028.

SB 5407 delays the annual recalibration (rebasement) of nursing home payment rates under Washington's capital component system from 2023 to 2028. This bill directly affects nursing homes receiving state Medicaid payments in Washington, as it postpones the update to their facility-based payment rates. The key mechanism is amending the law to require a single rebasing in 2028 instead of annual adjustments, maintaining current payment rates for the capital component until that date. This change applies specifically to the capital component of the payment system, which calculates rates based on facility age, square footage, and rental values.