Federal Government Overpays Insurance Companies by Billions
The federal government is overpaying billions of dollars a year to the private insurance companies that operate Medicare Advantage plans.
Those private, for-profit plans currently account for about one in five of all Medicare participants and that number could grow even larger under the Bush administration’s push to further privatize Medicare, according to the Center on Budget and Policy Priorities.
On Dec. 4, several members of the senior advocacy organization, the Alliance for Retired Americans, along with other consumer advocates, delivered more than 48,000 hand-signed petitions from seniors around the nation calling on Congress to eliminate or reduce the billions of dollars in overpayments and to strengthen Medicare.
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