Private Insurers Overcharge Medicare By $1.3 Billion

washingtonpost.com — Under a program called Medicare Advantage, the federal government pays insurers for delivering Medicare benefits. The insurance companies' payments are based, in part, on their anticipated revenues and expenses. If the companies had been more accurate, they could have spent much of that $1.3 billion on enhanced health benefits or lower monthly premiums, and they still would have maintained their expected profit margin, the Government Accountability Office said in a report expected to be released Thursday.

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