Sunday, October 25, 2009

$60 Billion Medicare/Medicaid Fraud

In this latest installment of CBS's news magazine, 60 Minutes, light is cast on the biggest government run healthcare insurance program in the world, Medicare and Medicaid.

The reporter interviews a fraudster who, at one point in the story, laughs at the idea that the government can actually do anything about the problem of outright fraud (billing for services not rendered), let alone deal with the problem of overcharging.

The Obama Administration, has increased funding for policing Medicare/Medicaid fraud to the tune of $200 million. So, in this crazy world of public health care insurance, one has to spend money in order to 'save' money.

The annual cost of Medicare and Medicaid fraud is already greater than the illicit drug problem. The temptation of a $2 trillion program is too much for even the most casual of petty crooks. What would an additional $1 trillion in the shape of the health care 'reform' do for the industry of health care fraud? Politicians would be wise to keep this in mind when voting for the public insurance option.

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