March 3, 2011

Medicare loses nearly four times as much money as health insurers make

Stunning.

Medicare loses nearly four times as much money as health insurers make 

In a newly released report, the Government Accountability Office (GAO) estimates that, in fiscal year 2010, $48 billion in taxpayer money was squandered on fraudulent or improper Medicare claims. Meanwhile, the nation’s ten largest health insurance companies made combined profits of $12.7 billion in 2010 (according to Fortune 500). In other words, for every $1 made by the nation’s ten largest insurers, Medicare lost nearly $4.
Posted by Jill Fallon at March 3, 2011 8:24 PM | Permalink