Comments on: 60 Minutes Reports on Fraud in the Medicare System http://blog.ritterim.com/2009/10/27/60-minutes-reports-on-fraud-in-the-medicare-system/ News and Information affecting Senior Market Insurance Agents. Thu, 29 Jul 2010 12:54:33 +0000 hourly 1 http://wordpress.com/ By: Formerly MHP Tim http://blog.ritterim.com/2009/10/27/60-minutes-reports-on-fraud-in-the-medicare-system/comment-page-1/#comment-3376 Formerly MHP Tim Fri, 30 Oct 2009 13:21:27 +0000 http://blog.ritterim.com/?p=3048#comment-3376 I agree Craig that low admin is not always a good thing. I read a good quote once that said something like "low admin costs are not a good thing. Ineffecient admin costs are a bad thing." I also want to add that Medicare typically has higher claims since you have to be 65+ or disabled to be on Medicare. If it costs two different companies $100 to process a claim, of course Medicare's admin cost will be lower because the claim they paid is likely for a much higher dollar amount. I agree Craig that low admin is not always a good thing. I read a good quote once that said something like “low admin costs are not a good thing. Ineffecient admin costs are a bad thing.”

I also want to add that Medicare typically has higher claims since you have to be 65+ or disabled to be on Medicare. If it costs two different companies $100 to process a claim, of course Medicare’s admin cost will be lower because the claim they paid is likely for a much higher dollar amount.

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