The Scam Known As Health Insurance
Submitted by Glenn Baugh
Have health insurers been systematically cheating patients and doctors of fair reimbursement for medical services? That is the disturbing possibility raised by an investigation of the industry’s arcane procedures for calculating “reasonable and customary” rates.
The investigation, by the New York State attorney general, Andrew Cuomo, and his staff, suggests that these procedures - used by major insurance companies to determine what they will pay when patients visit a doctor who is not in the company’s network - may be rigged to shortchange the beneficiaries. (Link)
It doesn’t surprise me at all that the equivalent of price fixing is widely used by insurance companies in determining reimbursement rates. This article points out the fox is truly guarding the hen house. What would surprise me if any change comes from this. I hope so.
Tags: Health, Health Insurance, Scam
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