Medicare's missing $34 million

Star-Telegram - Thu, Aug. 16, 2007
Imagine if $34 million slipped through your fingers. For Medicare officials, no imagination is required. Medicare Advantage patients should have received that amount of additional benefits or reduced premiums from companies administering the alternative Medicare program, the federal Centers for Medicare & Medicaid Services determined after reviewing 2003 audits of the companies. But in May, the federal agency gave up trying to recover the money, saying it lacked the legal authority. A recent government audit says the agency does have the authority, but it needs to say so when writing contracts with the companies. Read full Government Accounting Office report.