Fraud Dog says that the fraudsters will be licking their chops to sink their teeth into the much-anticipated health insurance exchanges. Let’s face it, if the states can’t handle Medicaid Fraud, how will they be ready for the upcoming health insurance exchange programs. With new companies trying to draw customers in, there will be too much focus on the front end of the business and not on the back end. Fraudster will quickly find those vulnerability points, and siphon money right out the door undetected. Fraud teams across America must be on alert for tsunami wave of fraud heading our way in the health insurance exchange programs.
The much-anticipated final regulations for health insurance exchanges — released Monday in a 644-page document — emphasized the broad latitude states will have in developing and implementing their own health insurance marketplaces by 2014. The virtual shopping centers will aim to make the process of buying health insurance as easy as navigating a site like Amazon.com and are expected to serve about 21 million Americans by 2017.