Scammers Stealing Billions from Medicare and Medicaid Revealed in Investigation
According to a CNBC investigation, scammers are estimated to steal over $100 billion annually from Medicare and Medicaid.
The investigation uncovered how scammers are using fake companies to siphon off the funds intended for healthcare.
This fraud is costing taxpayers billions of dollars.
The investigation revealed the system is riddled with abuse and easily exploited.
The report featured Miami businessman secretly recorded by a government informant counting stolen Medicare money.
The schemes range from sham storefronts to empty offices billing the government to a durable medical equipment company.
The scammers first buy lists with patients and doctors’ personal data and start submitting claims to Medicare using those two key pieces of information.
In one instance, a Miami businessman stole $48 million in a single year from Medicare.
Federal agents claim that the Miami Merchandise Mart is a hotbed for these fake companies set up to bill Medicare.
In South Florida, Medicare and Medicaid fraud are rampant, but this is just one state among 49 others where these types of schemes are occurring.
Health care fraud is costing taxpayers billions of dollars, and scammers are becoming increasingly brazen.
