This week’s Outside the Box is guaranteed to upset you. It is about Medicare fraud. Warning: it was written by a very conservative analyst and is “pro” the Ryan plan. I want you to read it not because I am trying to get you to support the Ryan plan but to get a handle on the size of Medicare and Medicaid fraud and just how easy it is to perpetrate.
There may well be better ways than the Ryan plan as advocated here, but something must be done. Want to cut spending by $1 trillion in ten years? Eliminate the fraud. If American Express can hold fraud to 0.3%, maybe we should outsource our Medicare fraud detection to them. I say that only slightly tongue in cheek.
This outraged me. I knew it was bad, but I had no idea… The
piece is short, but it will strike a nerve, I bet. The link to the original is http://www.nationalreview.com/
Tomorrow morning I leave for New York and then on to Maine with my youngest son, Trey, for a few days of fishing, wine, and friends; and then I’m back for a night and off the next day to a consulting gig in Calgary. In and out and then home for a few weeks (I hope).
John Mauldin, Editor
Outside the Box
Adapted from the July 4, 2011, issue of National Review.
The budget blueprint crafted by Paul Ryan, passed by the House of Representatives, and voted down by the Senate would essentially give Medicare enrollees a voucher to purchase private coverage, and would change the federal government’s contribution to each state’s Medicaid program from an unlimited “matching” grant to a fixed “block” grant. These reforms deserve to come…