Biden: Medicaid Could Save $20B If MCOs Returned Excess Payments

By Dorothy Mills-Gregg / March 9, 2023 at 5:06 PM
Medicaid could save more than $20 billion and the Children’s Health Insurance Program another $1.7 billion over 10 years if Congress gave CMS authority to require that insurance companies charging far more than they actually spend on patient care pay back some of the excess, President Joe Biden’s budget says. CMS requires Medicaid managed care organizations to calculate their medical loss ratio -- or how much a plan uses for administrative costs versus the cost of care -- but it’s...

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