How Medicare Wastes Almost $50 Billion a Year

Jackson · Oct 9, 2011

Improper payments to the wrong person, in the wrong amount, or for the wrong reason -- cost Medicare $48 billion last year, or nearly 10 percent of the $516 billion spent on care for seniors, according to federal estimates. And others suggest that the total number for Medicare fraud and waste is close to $100 billion a year.
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Amazing!

WatertheTree · Oct 9, 2011

Who gives a shit about 50 billion when were what 17 trillion in debt?

Jackson · Oct 9, 2011

When the government is in control, the sky is the limit to fraud, abuse and incompetency.

RetiredGySgt · Oct 9, 2011

Plasmaball said: ↑

yes so you reform it so you fix the issue and save money. There is no need to get rid of the program.
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Well except the Government has known of this abuse and fraud for YEARS and has failed to bring it under control.

Wanna hear another abuse story?

When an agency receives money from the Government it can not "save" a dime. You see if at the end of the fiscal year they have not spent their entire budget then they get a cut next year. Absolutely no incentive to save and in fact a major incentive to spend ever dime and ask for more.

Full-Auto · Oct 9, 2011

Plasmaball said: ↑

yes so you reform it so you fix the issue and save money. There is no need to get rid of the program.
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Both Parties have been aware of this for what? Two decades.

Who will be the first to demagogue the issue and do nothing but provide hours of lip service?

Mr. Shaman · Oct 9, 2011

Jackson said: ↑

Improper payments to the wrong person, in the wrong amount, or for the wrong reason -- cost Medicare $48 billion last year, or nearly 10 percent of the $516 billion spent on care for seniors, according to federal estimates. And others suggest that the total number for Medicare fraud and waste is close to $100 billion a year.
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Amazing!
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.....Especially when you consider it was a Bush-scam.....designed to enrich.....

....for-profit health-nsurance-companies & the huge-pharmas.

$ $ $ $ $

Among the key findings:

Under the MMA, Medicare has been significantly overpaying private plans under Medicare Advantage. In 2005, Medicare overpaid private plans by at least 7% per beneficiary, costing taxpayers $2.7 billion. In 2006, overpayment reached 11% per beneficiary, costing taxpayers $4.6 billion.

Under the MMA, Congress set aside $10 billion for an unnecessary subsidy (or "stabilization fund") to regional PPOs. This year, however, 88% of beneficiaries have access to a regional PPO, before the so-called "stabilization fund" was even tapped--no subsidy was necessary.

Medicare Part D drug prices are substantially higher than the prices obtained by the Department of Veterans Affairs (VA), which negotiates prices on behalf of consumers. For all of the top 20 drugs prescribed to seniors, the lowest price charged by any Part D plan was higher than the lowest price secured by the VA. Yet Congress refused to let Medicare negotiate directly with the drug companies, as the VA does.

Bottom line: this report shows that, unfortunately for consumers and taxpayers, the MMA has not even come close to meeting the high expectations set for it by Congress. Consumers are getting hurt and taxpayers fleeced, while insurance companies and drug manufacturers are raking in money faster than they can count it. Congress needs to move away from this deeply flawed privatization model, and instead focus on strengthening Medicare.
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Greenbeard · Oct 9, 2011

Jackson said: ↑

Amazing!
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Bring it in-house? Or get some new contractors?

Improper payments to the wrong person, in the wrong amount, or for the wrong reason -- cost Medicare $48 billion last year, or nearly 10 percent of the $516 billion spent on care for seniors, according to federal estimates. And others suggest that the total number for Medicare fraud and waste is close to $100 billion a year. [...]

Beyond that, the losses at Medicare call into question the efficacy of contracting with some of the nations largest insurance companies to process Medicare claims, spot suspicious billing, and refer cases to law enforcement. The contractors are primarily subsidiaries of big health insurers, such as WellPoint and Blue Cross Blue Shield.

Government auditors have criticized these companies for poor performance in the past and faulted Medicare officials for not holding them accountable. A report last year by the Health and Human Services inspector general said one group of 18 contractors identified just $835 million in overpayments in 2007, and 16 of them referred $54 million or less for collection. Medicare is now consolidating that work in seven regional contracts. Overall, in the last fiscal year (2010), Medicare paid $956 million to these contractors for claims processing and fraud detection, according to government figures.
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Rozman · Oct 9, 2011

Jackson said: ↑

Improper payments to the wrong person, in the wrong amount, or for the wrong reason -- cost Medicare $48 billion last year, or nearly 10 percent of the $516 billion spent on care for seniors, according to federal estimates. And others suggest that the total number for Medicare fraud and waste is close to $100 billion a year.
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Amazing!
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I think if we knew the actual number our heads would explode...
And the Obamanoids want more and more government control of our lives...

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How Medicare Wastes Almost $50 Billion a Year

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How Medicare Wastes Almost $50 Billion a Year

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WatertheTree Senior Member

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Mr. Shaman Senior Member

Greenbeard Gold Member

Rozman Gold Member Supporting Member

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