Key findings from the second installment of 'Medicare Advantage Money Grab'

Key findings:

  • Federal officials have missed multiple opportunities to recoup tens of billions of dollars in Medicare Advantage overcharges tied to a government payment formula called a “risk score.”
  • Six Medicare Advantage plans that federal auditors said couldn’t justify some $650 million in 2007 payments settled for pennies on the dollar.
  • In 2012, federal officials gave up trying to recoup overcharges from 2008 through 2010, despite estimates of more than $32 billion in “improper” payments over that time.
  • Audits are conducted at such a leisurely pace that it will take officials more than 15 years to review the hundreds of Medicare Advantage contracts now in force.