In a recent column, Mark Weisbrot chastised private insurers as “the biggest source of waste” in the U.S. healthcare system (“Pro: Health care law is a hopeful step forward,” Dec. 30). The facts suggest otherwise.
In 2010, fraudulent or otherwise improper Medicare payments totaled $48 billion, according to the Government Accountability Office. That’s quadruple the combined profits of the 10 largest health insurance companies — and represents nearly 10 percent of what Medicare spent that year.