THE SAPIENT SPARROW: conservatism for commoners

"What has always made the State a hell on earth has been precisely that man has tried to make it his heaven."–Holderlin

REVISITING THE EVIL INSURANCE EMPIRE

Back on September 10th, I posted about the profit margins of the insurance companies who were being so vilified by the Obama Administration and the Democrats in Congress.  (Update: Insurance Companies are still being vilified.)

Now, comes an expose on Medicare Fraud by, of all places, 60 Minutes.  (Wow, I did not know that they still DID investigative journalism.  Good for them!)  On the “Critical Condition” blog at National Review Online you can read some of the particulars about this 60 Minutes segment.  Note that Medicare fraud amounts to $60 billion per year.  Now, I followed the link within the NRO blog, also linked here, and did my own math.  Seems that NRO is right, the profit for the 14 Fortune 500 health insurance companies totals $8,446,900,ooo this year, or approximately $8.5 billion if you have trouble with big numbers, which is indeed more than 7 times less than what is stolen from the U.S. taxpayer through Medicare Fraud each year.

I echo the question that is being asked by many, “How much more potential for fraud will there be with millions added to a new or expanded Government healthcare program?  My thought, figure out how to eliminate the fraud in the programs we have instead of trying to devise legislation to destroy an entire private sector industry.

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Filed under: congress, healthcare, LEGISLATION, media, POTUS, U.S. GOVERNMENT, , , , ,

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