A recent Senate Investigation has found that a staggering number of insurance companies from around the nation have denied coverage to thousands of people in need of necessary care. The investigation took place over six months, researching more than 1,600 cases. The results of the investigation were released last Friday, leading many to question the altruistic nature sometimes lauded by big name insurers. Michael Fields, an HVAC technician and resident of Maryland, is one of the key people that helped initiate the investigation. Fields in a coronary patient, whom on…
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Insurers profit from medicare funds
Private insurance plans tailored to accommodate Medicare recipients are making massive profits by using advance government payouts. The Medicare program regularly sends money in advance, much of which has no immediate need, and insurers are using the funds to secure investments, according to an investigation report by the Department of Health and Human Services. Those in the financial world are familiar with this practice called, “playing the float”. The HHS inspector general estimated that private Medicare plans obtained some $380 million from these investments with money used from the government…
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Blue Cross and Blue Shield Association will transform their healthcare data analysis service Later this year, big insurer Blue Cross and Blue Shield Association will transform their healthcare data analysis service into its own business. Founded only 4 years ago, Blue Health Intelligence reviews millions of claims and details how healthcare is being put to use by policyholders. Claiming its database surpasses that of the government, Blue Health Intelligence uses its analysis to determine trends and offer insights to quality of coverage – a service that is quite cost effective.…
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