The New York Times just uncovered that private insurers are draining resources from Medicare and threatening one of our greatest public health insurance programs. 6 of the top 10 private insurers who administer Medicare Advantage plans have been accused of Medicare fraud by the U.S. government and whistleblowers. 9 of the top 10 companies have overbilled Medicare between $12 and $25 billion taking money away from patients who really need resources.
In order to protect Medicare, we must get private insurance companies OUT of Medicare.
Congress created Medicare Advantage 20 years ago to create a private alternative to traditional Medicare in order to provide better care at lower costs. Instead, costs have gone up and private insurance companies have siphoned billions from Medicare.
The corporate greed is disgusting. The New York Times reports that giant private insurers, “have developed elaborate systems to make their patients appear as sick as possible, often without providing additional treatment” so the insurers could charge those patients more for their Medicare plans.
As of next year, more than half of all Medicare recipients may be using Medicare Advantage plans through private insurers. Private insurance companies are wasting taxpayer dollars, threatening the integrity of Medicare, and putting patients’ health at risk. We can’t let big corporations continue to steal money away from Medicare.
Thanks,
Demand Progress.
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