REID: Insurance companies don't do things out of the goodness of their hearts. They do it out of a profit motive and they have almost destroyed our economy.
RUSH: Stop the tape. "Insurance companies don't do things out of the goodness of their hearts. They do it out of a profit motive and they have almost destroyed our economy." Mark Hemingway, National Review Online: "60 Minutes did a great report on Medicare fraud this past Sunday. Among other things, the report noted that Medicare fraud was now more common in South Florida than the drug trade," and then there's this: "Medicare loses seven times as much money in fraud every year than the combined profits of the 14 health insurance companies on the Fortune 500." Yet here's Harry Reid getting paid off on a land deal in Vegas, impugning insurance companies for seeking profit and "almost destroying our economy" when he and his buddies in the Democrat Party are in the process of doing just that.
In the systems they devise for our health care -- Medicare, Medicaid -- there's so much fraud (and who knows who's getting paid off on this) that it dwarfs the combined profit of 14 health insurance companies in the Fortune 500. This is just an out-and-out outrageous, despicable lie and is typical of what we've been getting of the Democrat Party for as long as I've been listening to 'em speak. Government great! Government God! Profits destroy! Profits destroy economy. Profits destroy the country. Companies, corporations want profits. They don't care about people. Only Democrats care about people. Only Democrats care about the little guy -- unless you're unborn in the womb and then you're on your own.
"Only Democrats care about people. Everybody else -- Big Oil, Big Pharma, Big Insurance, Big Retail -- they're killing people. Big government's saving 'em." Big government is defrauding people left and right, failing to produce anything on their promises. This is stunning. "Medicare loses seven times as much money in fraud every year than the combined profits of the 14 health insurance companies on the Fortune 500," and we're told that these people in charge of this kind of incompetence and loss or whatever else it is, fraud, are now going to be in charge of one-sixth of the US economy. And we're supposed to look the other way 'cause these people care about us and Republicans are the extremists and the kooks
Saturday, October 16, 2010
Fraud drives up insurance costs, not companies
The title of this segment of Rush's program was: Medicare Fraud Dwarfs Profits of 14 Insurance Companies Combined.
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The more we have government take over the healthcare system, we will very likely have more fraud losses. The obvious reason for this is the lack of incentive for anti-fraud tools such as internal controls. A private company's survival depends on protecting against fraud, as opposed to government backed agencies. The mindset and the focus from the management of the organization makes all the difference.
ReplyDeleteKenneth Hunt MBA, CFE
www.kennethhuntcfe.com