The waiver of the requirement for a three-day hospital stay before a Medicare beneficiary is admitted to a SNF was one of several COVID Public Health Emergency flexibilities that will end on 5/11/2023 when the PHE expires. The resumption of the three-day qualifying hospital stay requirement is expected to raise the number of inpatient hospital admissions. Participants in a risk-based payment model, such as Medicare Advantage and Special Needs plans, may nevertheless be able to bypass the three-day hospital stay requirement and should be considered as an option in a healthcare facility’s risk plan.