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Review underscores concerns about Medicaid profits.
Apparently the audit documents past over-payments by the state and the Federal government. The next step is to repay the Federal government the extra money it paid into the Minnesota Medicaid program.
"Hands off the private sector." They always know best what works. For them anyway.
Now someone in the Legislature PLEASE hold a hearing so that the Medicaid providers can show you that their rates went DOWN as payments to plans went UP...and the money the plans hold in their bank accounts should go to them. The payments were adjusted for cost inflation (provider payments) that never happened...paid claims data would have shown this...which is WHY THE PLANS WOULD NOT RELEASE THE DATA.
Seems that you, STRIB, missed an interesting crumb of information. The person that procured Segal was Julie Brunner's brother, she is the head lobbyist for the plans. Then, Mark Hudson, former CFO for BCBS and UCARE....is managing the audit.
Any wonder why the public cynicism towards big government? Tip of the iceberg.
The government make mistakes? Never. Wait! That's my right foot that's the problem, not the right eye. The Government told you to do that? It must be correct then.
Anyone wonder why the public cynicism towards big business -- including big health insurers? Tip of the iceberg.
I assume its still true that the state has trouble holding onto highly talented proffesionals particularly in finance. Salaries were too low. People got a start in goverment then moved on to better paying private jobs. MN you get what you pay for. To keep track of the HMO's you need the talent to do so.
What's missing from this story is the amount of the total money that is paid to providers, the amount the insurers are allowed to keep to pay for their costs, the amount the insurers are allowed to keep to maintain their state regulated cash reserves, and the amount of income over expenses the insurers are allowed (in order to keep pace with other employers in the area of wages and benefits). Also - how much have health care costs charged by providers gone up in tat same period? We all know that health care costs have been rising faster than inflation, we all see the big new additions to Regions Hospital, Fairview Riverside and Fairview Southdale as well as Abbot Northwestern. So I think it's important to know what percentage of these costs stays with the insurance companies and what percentage goes to providers and a break out of how much the costs in each of those areas has risen. Otherwise, this is just a poorly researched story.
Apparently there is a bit of misinformation here. Minnesota forced health care insurers operating in the state to be not for profits in order to ensure transparency. The insurers have to file a full disclosure of their yearly financials with the Attorney General's office and those records are public. In addition, because they're non-profits they, like any other non-profit, have to allow anyone to look at their financials and annual reports when asked. So anyone who tells you that the health care insurers are hiding financial data is either unaware of how easy it is to obtain that data, is accusing the health insurers of violations of state and federal law that would effectively put them out of business, and should take that information to the Attorney General's office, is abetting the health care insurers in the alleged criminal activity, or is not telling you the truth. To find out which I would like to know how much provider costs have risen in the same period. You see, we all know how much money goes to the insurance companies, but we never hear about how much the insurance companies get to keep to pay their employees and how much they have to pass on to the providers.
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