Monday, January 11, 2010

Medicare Fraud and the Public Option

I was reading a story about Medicare fraud today. A few of the points that most caught my attention were:
  1. Medicare pays about $430 Billion per year in claims.
  2. $60 BILLION of that are fraudulent claims [ roughly 13.95%].
  3. It's not unusual for a fraud scheme to be in the range of $30 to $50 million.
  4. From 2000 to 2007 somewhere between $60 to $92 million was paid to fraud schemes involving dead doctors. Some of whom had been dead for 10 years.
Now let's take a moment to consider the so-called public option of the Health Care Reform bill. If the uninsured become insured under this public option, what will the fraud cost the taxpayers? $100 Billion a year? 300 billion? the sky's the limit?

Seriously, contact all your Congress Critters to express your concerns about this aspect of "reform."