“The move to privatize Medicare,” said one expert, has “been very profitable, in part because insurers are good at making their patients seem sicker.”

By Kenny Stancil  Published 10=9-2022 by Common Dreams

Photo: K Whiteford/Public domain

Insurance giants are exploiting Medicare Advantage—a corporate-managed program that threatens to result in the complete privatization of traditional Medicare—to capture billions of dollars in extra profits, Saturday reporting by The New York Times confirmed.

The newspaper’s analysis of dozens of lawsuits, inspector general reports, and watchdog investigations found that overbilling by Medicare Advantage (MA) providers is so pervasive it exceeds the budgets of entire federal agencies, prompting journalist Ryan Cooper to call the program “a straight up fraud scheme.” Continue reading →