Is There Medicare Insurance Fraud In Our Country? How Does It Affect My Rates?
As Medicare Insurance Fraud continues, consumers must pay more to compensate for the loss of money. Detecting and reporting fraud is important and can help everyone save resources.
Medicare Insurance Fraud happens every day in our country. This fraud is not only a problem for the Medicare program, but also for health care providers and for everyone in the country. Detecting and reporting fraud can save money for everyone.
What Are The Different Types Of Medicare Insurance Fraud Seen In Our Country?
There are many ways that fraud is executed against Medicare. Billing for services that were not delivered or billing for equipment that was not received are just two examples. Another way to commit fraud is to order tests or medications that are not necessary and bill Medicare for these avoidable charges.
Does Insurance Fraud Affect My Medicare Rates?
According to the U.S. Health and Human Services’ website, hundreds of millions of dollars are lost through Medicare fraud (http://www.stopmedicarefraud.gov/aboutfraud/index.html). Just like retailers who lose inventory through shoplifting, these healthcare costs must be recovered in some way. Just as retailers charge more for their products to recover the stolen assets, Medicare must increase health care costs for everyone to compensate for this loss. Additional monies will be required for deductibles, co-insurance, and premiums. So, Medicare Insurance Fraud certainly affects the Medicare rates of every participant.
How Can I Spot Medicare Insurance Fraud?
The most important thing the healthcare consumer can do is to stay informed and ask questions. Be vigilant in assessing charges claimed by the healthcare provider. If something seems unusual, don’t be afraid to ask for a clarification. If a provider’s name is unfamiliar to you, or the date seems to be incorrect, ask for clarification. If you suspect that extraneous charges were filed, report this information to the Medicare hotline at 1-800-MEDICARE. Ending fraud will help everyone save their financial resources.