Whoops.... and general federal contract laws do not apply to the payments made under Medicare contracts...wonder how that happened? BD
WASHINGTON, Sept. 9 Private insurance companies participating in Medicare have been allowed to keep tens of millions of dollars that should have gone to consumers, and the Bush administration did not properly audit the companies or try to recover money paid in error, Congressional investigators say in a new report. The investigators, from the Government Accountability Office, said the money could have been used to reduce premiums or provide additional benefits to older Americans.
Under federal law, Medicare officials are supposed to audit the financial records of at least one-third of the insurance companies each year. But the investigators said the Bush administration had fallen far short of that goal and had never met the “statutory requirement.” Mr. Grassley said Medicare officials had done “a poor job of bringing accountability here,” and he added, “I want to see concrete action to fix this.”
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