Insurers Running Medicare Advantage Plans Overbill Taxpayers By Billions As Feds Struggle To Stop It
The sheer number of billing abuses by Medicare Advantage plans is overwhelming and tax payers are paying the price, literally. Sick patients are being charged higher rates than healthy ones, according to Centers for Medicare & Medicaid Services (CMS)Read more
NPR reports that over the past 3 years, Medicare has been overcharged an excess of $30 billion by different health insurers, and recuperating the money is a slow and difficult process. Medicare Advantage plans are the cause of this crisis.
Many efforts in Washington focus on the privatization of Medicare to perpetuate a fragmented multi-payer financing model that is unsustainable and increases administrative costs. One-third of all Medicare beneficiaries are now on private Medicare Advantage plans, which have become major profit centers for commercial insurances who game the system to cover only the healthy. The best means to universal healthcare is one single large risk pool, traditional Medicare insurance.Read more