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U.S. Senate Investigating United Healthcare, Cigna, Aetna for Medicare and Medicaid Fraud

November 10, 2011 3 comments

BREAKING NEWS……………………..

The U.S. Senate is now officially investigating United Healthcare, Cigna, and Aetna for one of the largest fraud schemes yet against the Medicare and Medicaid programs. The amount of fraud is said to be in the hundreds of billions of dollars. The fraud was done on purpose as to rake in billions of profits for the insurers at the demand of company executives and shareholders, according to the U.S. Senate.

In addition, FierceHealthcare is reporting that United Healthcare, Cigna, and Aetna have also been caught in a multi-billion dollar pull-through scheme involving Quest Diagnostics and LabCorp. This scheme specifically involves Quest and LabCorp offering contracts for discounted or below-cost pricing in exchange for in-network physician referrals for lab testing business. The companies have clearly violated the U.S. federal anti-kickback law which protects patients and Medicare/Medicaid beneficiaries from potential influence of financial arrangements on care decisions. (Source: http://www.fiercehealthcare.com/story/senate-probe-aetna-cigna-united-healthcare-quest-lab-corp-alleged-billion-d/2011-11-09?utm_medium=nl&utm_source=internal)

This is only the tip of the iceberg. It has also been reported that Blue Cross/Blue Shield and Humana are also being investigated for a very very similar multi-billion dollar fraud scheme as well.

Stay tuned to here for more on this BREAKING NEWS story.

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