Corporate Compliance

Missouri insurance broker pleads guilty to defrauding Medicaid of $700,000

Compliance Monitor, December 9, 2009

A Springfield insurance broker pleaded guilty to12 felony counts of Medicaid fraud worth more than $700,000 according to a Department of Justice (DOJ) press release.
Kevin Wayne Louderback, defrauded the Missouri Health Insurance Premium Payment (HIPP) program, a Medicaid program that pays for the private health insurance premiums for certain individuals with exorbitant medical costs. Louderback charged eligible HIPP participants a monthly insurance rate that was higher than the listed price. Louderbeck pocketed the overpayment and also offered HIPP beneficiaries kickbacks as an incentive to sign up.

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