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Fox Business News: How big is Medicare fraud?

 

In this story, Fox News discusses the rate of healthcare fraud and the impact on government retirement programs.

FROM FOX BUSINESS NEWS:

How big a retirement planning problem is Medicare fraud?

In a May 2012 report, FBI Special Agent David Welker said, “The United States spends more than $2.5 trillion on health care annually, and rough estimates indicate that anywhere from 3% to 10% of all health care expenditures are attributed to fraud.”

If you do Welker’s math, the annual cost of fraud ranges from $75 billion to $250 billion. That’s a lot of our hard-earned retirement money.

Read the full story here.

 

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