Two of the men accused operated 19 “clinics” in 5 states which, allegedly, fraudulently billed Medicare for Infusion treatments. Five of the Medicare Beneficiaries who were interviewed had never heard of the clinics and one man had been dead since 2005 (3 years before the clinics were incorporated). When I hear arguments about the “efficiency” of [...]
Archive for May, 2009
Three Men accused of Defrauding Medicare of $22.7 Million in a Five State Conspiracy
Posted in News on May 16, 2009 | Leave a Comment »
Medicare May Soon Become Insolvent
Posted in News on May 13, 2009 | 1 Comment »
The New York Times (5/13, A1, Pear) reports that “the projected date of insolvency, a widely used measure of the benefit programs’ financial health, shows the immense difficulties Mr. Obama and Congress will face in trying to shore them up while also extending health coverage to millions of American.” Moreover, “a resumption of economic growth [...]
CBS Evening News Spot on the Healthcare Company’s Promise to Cut Healthcare Costs over next 10 years
Posted in News on May 12, 2009 | 9 Comments »
Here is a link to the Video Clip: http://www.cbsnews.com/video/watch/?id=5007497n Essentially, the plan is to reduce expected growth by 1.5% per year each and every year over the next 10 years. Based on current Health Care Spending in the United States, this would result in the $2 trillion less in Health Care Costs. This would not [...]
California Department of Insurance Announces Fee Reduction and Paperless Online License Retrieval
Posted in California on May 12, 2009 | Leave a Comment »
Here is the Bulletin from the CDI which implements two licensing changes effective July 1st, 2009. Click here for bulletin: Paperless License Fees
WellCare Posts a loss in Q1 2009
Posted in Wellcare on May 12, 2009 | 3 Comments »
Wellcare posted a $36.9 million loss for the first quarter of 2009. The loss was due to higher Medical Expenses, one time charges and lower investment income. Last week Wellcare announced that they would be exiting the Private Fee for Service Medicare Advantage Marketing in 2010. Although management doesn’t segment out PFFS versus Networked MA versus [...]
Family Life Releases New Medicare Supplement Product for the State of North Carolina
Posted in Family Life, Insurance Companies, North Carolina on May 8, 2009 | 1 Comment »
Ritter Insurance Marketing is pleased to announce that we are able to offer brokers in the State of North Carolina a new Medicare Supplement with Family Life. Insurance Agents can easily compare Medicare Supplement rates in the state of North Carolina (or any other state except Wisconsin and Minnesota) using our Medicare Quote Engine tool. [...]
Medicare Payments to Hospitals will Remain Relatively Flat in 2010
Posted in CMS, News on May 6, 2009 | Leave a Comment »
Here is the article from the Wall Street Journal. CMS will increase payments to hospitals by 0.2% which is far lower than the 2.7% increases in 2008 and 2009 and the 3.4% increase in 2007. The inflationary increase was supposed to be 2.1% (which was lower due to the recession), however, CMS reduced this by [...]
Coventry Announces That it will Exit the Medicare Advantage Private Fee for Service Market at the End of 2009
Posted in 2009 MA Plans, Coventry, Medicare Advantage, News on May 6, 2009 | 22 Comments »
I talked about this last week (see blog post here), but yesterday, Coventry made it official that they are exiting the Private Fee for Service market at the end of 2009. This will affect over 300,000 members including both individual and group PFFS plans. A relatively small percentage of these members reside in a service [...]
Wellcare Announces That it will Exit the Medicare Advantage Private Fee for Service Market at the End of 2009
Posted in 2009 MA Plans, Insurance Companies, Medicare Advantage, News, Wellcare on May 5, 2009 | 1 Comment »
Here is an article which covers the story. Wellcare currently has approximately 110,000 members in its Private Fee for Service plans. Wellcare will continue to cover these members through December 31st, 2009. These members will have the option of electing another Medicare Advantage plan in their area during the Annual Election Period which runs from [...]
Hello from the 3rd Annual Medicare Supplement Industry Conference in Scottsdale, Arizona!
Posted in About Ritter Insurance Marketing, Education/Training, Medicare Supplement on May 4, 2009 | Leave a Comment »
I’ve finished my long journey from Pennsylvania to Scottsdale, AZ for the 3rd Annual Medicare Supplement Industry Conference (it’s about midnight here, but 3am Eastern time)! Tomorrow, I plan on sleeping in a bit and then I’ll be attending a number of meetings. Here is a preview: 10am – Noon – Building the Team for [...]
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Craig Ritter
