Healthcare CEO Brags About Stealing From Taxpayers

United Health group's chief executive bragged about how the bind administration's ineffectiveness in cracking down on over billing in Medicare Advantage has led to record profits so the CEO Andrew witty told investors that he appreciates the White House's decision to slow the implementation of its Medicare Advantage reforms which would prevent companies like United Health from potentially over billing and stealing from United States taxpayers common dreams rights United Health one of the largest Medicare Advantage providers in the United States reported 91.9 billion dollars in revenue for the first three months of 2023 15 growth year over year and more than 8 billion in earnings from operations exceeding analysts expectations United Health like other Medicare Advantage insurers he's been accused of wrongfully denying patients necessary care in some cases utilizing artificial intelligence to determine whether or when to end coverage and unfortunately more and more seniors are signing up for Medicare Advantage with some of them very likely not realizing that it's a privatized alternative to Medicare the company meaning United Health said that it added 655 000 new Medicare Advantage members in the first quarter of the year now we'll get back to United Health in just a moment but first here's a little context about what we learned recently about these Medicare Advantage Programs so Medicare Advantage is not the same as Medicare it's a Medicare approved plan from a private company that offers an alternative to traditional Medicare much like private prisons it's privately run but publicly funded through the Medicare trust aside from robbing the Medicare trust through overbuilding other issues with Medicare Advantage includes you know super narrow networks for providers that can severely limit access to care for the nation's Elders many of the nation's largest health insurance companies have made billions of dollars not just in Revenue in profits by exploiting the government's Medicare Advantage program a recent New York Times investigation found that 8 out of 10 of the largest Medicare Advantage providers overcharge the government in fact six of the ten have been accused of fraud by both whistleblowers and government officials before the Biden Administration could Implement any rules to mitigate or prevent this fraud Private health insurance lobbyists did what they do best they went to work they went to Washington United Health helped lead an aggressive lobbying campaign against new Biden Administration rules aimed at limiting Medicare Advantage ensures ability to overcharge the federal government by making patients appear sicker than they actually are United Health CEO Andrew witty appeared on Capitol Hill in person to Lobby against the proposed changes which the lucrative Medicare Advantage industry falsely characterized as cuts to the program that now provides Insurance to nearly half of the overall Medicare population now that lobbying effort culminated with big rewards for the Private health care industry just last month the centers for Medicare and Medicaid services otherwise known as CMS agreed to slow down its regulatory agenda by imposing policy changes over a period of three years rather than all at once by the way with no justification like why are you slowing down the implementation of these regulations is it because the lobbyists showed up and demanded you do so CMS also agreed to boost Medicare Advantage payments or payment rates by more than previously expected but just how bad has the overbilling been we can get to some of those numbers when it comes to excess billing CMS which by the way agreed to slow down their regulations and their crackdowns on overbuilding recently estimated that overpayments to Medicare Advantage totaled 11.4 billion dollars in fiscal year 2022 a significant drain on the Medicare trust trust fund other estimates according to democracy Now were higher at 25 billion dollars in 2020 alone citing one industry analyst stat news noted that United Health could reap 900 million dollars in additional profit next year alone thanks to the administration's decision to delay full implementation of reforms Insurance Giants United Health Cigna CVS Aetna elevance Humana you get the picture and Molina saw their combined revenues from taxpayer supported programs grow 500 between 2012 and 2022. United Health is one of just seven large for-profit insurance companies that now control 70 percent of the Medicare Advantage Market which is dependent on taxpayer money our taxpayer money taxpayer money that they steal by over billing their patients by overcharging and over billing the Medicare Trust so it's incredible to me that on one hand you have Republican lawmakers pretending to be panicked about the solvency of various social safety net programs whether it be Social Security or in this case the Medicare Trust shouldn't we do something about the private companies that are defrauding the system shouldn't we crack down on that and by the way the Biden Administration aiding and abetting the robbery in the first place pretty disgusting like what is he gonna do is he going to blame Trump for that too this is happening under his watch the Biden Administration is fully aware of what these private insurers are doing in stealing money through overbilling and they're letting it happen they're slowing down the implementation of these rules that are meant to crack down on this terrible behavior in the first place something to keep in mind when the Democratic party pretends to be better than Republicans because fact of the matter is the whole corrupt political system that we're currently living under does not discriminate against Democrats the money flows into the coffers of democratic lawmakers and Democratic politicians as well so just like Republicans they do the bidding of corporate America and in this particular case they do the bidding of private insurance companies that are literally stealing money from the Medicare Trust a trust that we all pay into thanks for watching The Young Turks who really appreciate it another way to show support is through YouTube memberships you'll get to interact with us more there's live chat emojis badges you've got emojis of me Anna John Jr so those are super fun but you also get playback of our exclusive member only shows and specials right after they air so all that all you got to do is click that join button right underneath the video thank you

Channel: The Young Turks

Views: 218,767

Keywords: 230419__TA03UnitedHealth, News, Politics, TYT, The Young Turks, Cenk Uygur, Progressive, TYT Network, Ana Kasparian, political establishment, John Iadarola, Breaking News, 2020, Election 2020, Donald Trump, Joe Biden, 2020 Election Results, Biden, Trump, 2022 election, 2024 election, 2024

Id: oNWp6RSGOeI

Length: 7min 58sec (478 seconds)

Published: Wed Apr 19 2023