The Medicare Fraud in Our Future

Holder should really be ashamed of deflecting like that. It shows he is either ignorant or apathetic. I am more inclined to the latter as people have been abusing farm subsidies for decades and now when someone points out that a multi-millionaire is collecting subsidises for not farming the offender just shrugs.

The NZ government set up ACC, to pay out on accident claims on a no-fault basis. They used to boost that they had far lower admin costs than any private company. But of course total costs rose and rose as scammers figured out how to scam.

Can you imagine a private company losing one out of every ten dollars and not doing anything about it?

Further to John Goodman's point: it would have been interesting to have Kroft interview a Medicare Advantage company and see what their percentage of fraud is. I managed a Medicare+Choice business and we attacked suspicious billings vigorously.

All commenters above,
All great comments. Especially, the one by Underwriterguy. That would be very interesting. Maybe the answer is even out there already. Does anyone know?

It's hard to believe Holder said that, because when I still had television several years ago, there were numerous stories about the ongoing scams with Medicare. KY3 out of Springfield, Missouri was really good at digging up that sort of thing.