To embed, copy and paste the code into your website or blog: On April 27, 2021, CMS issued the fiscal year (FY) 2022 proposed rule for the hospital inpatient prospective payment system (IPPS) and long-term care hospital (LTCH) prospective payment system (the Proposed Rule). Among other proposals, the Proposed Rule proposes increases to IPPS and LTCH payment rates, repealing the market-based MS-DRG Relative Weight Policy, changing the new COVID-19 treatment add-on payment, changes related to Graduate Medical Education, changes to the Medicare wage index, revisions to the Medicare Geographic Classification Review Board rules, changes to organ procurement policies, proposals related to bad debt, Medicare DSH and uncompensated care payments, and proposed Medicare Shared Savings Program changes. This article provides an overview of the key proposals in the Proposed Rule. Comments to the proposed rule must be submitted by 5 pm EST on June 28, 2021.