On July 31, 2025, the Centers for Medicare & Medicaid Services (CMS) issued a final rule for updates to Medicare payment policies and rates for skilled nursing facilities under the Skilled Nursing Facility Prospective Payment System (SNF PPS) for fiscal year (FY) 2026. CMS is publishing this final rule in accordance with the statutory requirements to update Medicare payment policies and rates for SNFs on an annual basis. This fact sheet outlines the major provisions of the final rule.