Just WHAT is being done about this Medicare Fraud…

With the FRAUD financial figures that 60 minutes exposed, one can see WHY the health care system is struggling. People have been reporting these billing discrepancies for years now and no one makes any attempt to get to the bottom of the problem. Although I do believe that the health insurance companies have taken serious advantage of the American people, my point is, we need to expose and put a stop to those involved in the fraud going on.

Here is a comment that was forwarded to me:

Annual Medicare Fraud: $60 Billion;
Annual Profits of Top Ten Insurance Companies: $8 billion
As 60 Minutes reported last week, Medicare fraud is rampant and has now replaced the cocaine (ahem) business as the major criminal activity in South Florida. Both 60 Minutes and the Washington Post report that Medicare fraud now costs American taxpayers roughly $60 billion a year. That may sound like a lot of money, but surely it pales next to the extraordinary profits of private insurance companies, right?
Well, let’s see…. Last year, the profits of the ten largest insurance companies in America were just over $8 billion — combined. No single insurance company made even five percent of what Medicare reportedly loses in fraud.

While we’re making comparisons, in its real first ten years (2014-23), the Senate Finance Committee bill would cost $1.7 trillion. At the rate of last year’s profits, the combined ten-year profits of America’s ten largest insurance companies would be $83 billion — five percent of the costs of the Senate Finance Committee bill. Eighty-three billion dollars may not buy you much in comparison with BaucusCare, but — on the bright side — that ten-year tally is somewhat more than what Medicare loses each year in fraud.

So, the next time someone alleges that government-run health care is cheaper because of “lower administrative costs” — a truly preposterous claim on its surface — these numbers would be good ones to have at the ready: $60 billion in annual Medicare fraud, $8 billion in combined annual profits for America’s ten largest insurance companies.

Posted by Jeffrey H. Anderson on October 31, 2009 05:15 PM | Permalink

Congress – Ethics Investigations

MSNBC.com

Ethics investigators probe dozens in Congress
Confidential document was found on publicly accessible computer network
By Ellen Nakashima and Paul Kane
The Washington Post
updated 4:07 a.m. CT, Fri., Oct . 30, 2009

WASHINGTON – House ethics investigators have been scrutinizing the activities of more than 30 lawmakers and several aides in inquiries about issues including defense lobbying and corporate influence peddling, according to a confidential House ethics committee report prepared in July…

Leo Wise, chief counsel for the Office of Congressional Ethics, declined to comment, citing office policy against confirming or denying the existence of investigations. A Justice Department spokeswoman also declined to comment, citing a similar policy.

Staff writers Carol D. Leonnig and Joby Warrick and staff researcher Julie Tate contributed to this report.

© 2009 The Washington Post Company

URL: http://www.msnbc.msn.com/id/33546194/ns/politics-washington_post/

MSN Privacy . Legal
© 2009 MSNBC.com

Republicans and Democrats…

You know who you are…
It is time that each of you get back to business; wash the mud off your faces and hands and ACCEPT reality.
Our President has been awarded the Nobel Peace Prize

RNC Tax Attack Goes Too Far | FactCheck.org

Read The FACTS Here
FALSE Facts on Video commercial – Read the FACTS at FactCheck

The Republican National Committee’s NEW commercial goes too far with their Tax Attack

Enough is Enough – Setting the Records Straight About Health Care Reform

Get the TRUTH here…

The Truth May Hurt People, In Oh, So Many Ways

THE 10 COMMANDMENTS

The real reason that we can’t have the Ten Commandments
posted in a courthouse or Congress is this —-
You cannot post ‘Thou Shall Not Steal’ ‘Thou
Shall Not Commit Adultery’ and ‘Thou Shall Not
Lie’ in a building full of lawyers, judges and
Politicians …. It creates a hostile work environment.

Quoted: Author Unknown

Banks

Banks With Highest Levels of Troubled Loans

Banking System

Suggesting that the banking system is not out of the woods yet! Actions maybe premature…

Library of Congress Police or Capitol Police

By Ed O’Keefe
Washington Post Staff Writer
Friday, June 5, 2009

Sen. Charles E. Grassley (R-Iowa) charged yesterday that top officials at the Library of Congress have interfered with investigations conducted by its independent watchdogs and have frequently admonished investigators for the tone and focus of their investigations.

The Madoff Affair Video

How He Got Away With It For So Long…

Watch and Listen to “The Whole Story”