These 3 statements really set the tone for me and I think we can agree that the WSJ is about as unbiased as we can get on a subject.


Quote Originally Posted by WSJ
In fact, the total amount of Medicare fraud is unknown. The government does not measure or estimate fraud in its programs; instead, it measures payments made "in error." According to Medicare's own most recent data, payments made in error amount to over $10 billion annually. (Medicaid's payment errors in 2007 equaled a whopping $32.7 billion, according to a report by the Department of Health and Human Services.)
Wow, AT LEAST 42.7B a year in fraud that we pay for when we pay medicare taxes (I believe they come out of the same pot, but I could be wrong).

Gets better though.

Quote Originally Posted by WSJ
Medicare spends less than one-fifth of 1% on antifraud measures
.2% of funds are dedicated to fighting a problem that hemorrhages more than 42B a year?

And finally my favorite part.
Quote Originally Posted by WSJ
Worse, in four of the past five years Congress has turned back Medicare's pleas for $579 million of additional antifraud funding, on the grounds that these dollars subtract from the budget funds for curing cancer and anti-obesity campaigns. Based on experience, Congress will always underinvest in fraud. Yet according to a House of Representatives Budget Committee hearing in July 2007, return on investment for certain Medicare antifraud measures were estimated to be in excess of 13-1
I know I would put the life savings into ANY investment that had a guaranteed 13-1 return. I wonder why the govt doesnt do the same with a mere 600M.