Audit cites overpaid Medicare insurers
Healthcare Auditing Weekly, September 18, 2007
An audit by the Government Accountability Office found the Bush administration did not properly audit private insurance companies participating in Medicare, according to a recent article in the New York Times.
Because the companies were not audited, they were allowed to keep tens of millions of dollars that should have gone to consumers and that could have been used to decrease premiums or pay for additional benefits.
Medicare officials are supposed to audit financial records of at least one-third of the insurance companies every year, but according to the Times article, Medicare audited only 14% of insurance companies in 2006.
Click here to read the full article.
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