Thanks and congratulations to Senator Jeanne Shaheen and Senator Kelly Ayotte for their bipartisan support as co-sponsors of The Preventing and Reducing Improper Medicare and Medicaid Expenditures (PRIME) Act.
Medicare fraud and abuse is undermining the health of seniors and costing taxpayers an estimated $60 billion to $90 billion every year. The PRIME Act would combat fraud by cracking down on identity theft, improving systems for tracking fraudulent billing, and punishing billing errors and overpayments.
The PRIME Act would also prevent fraudsters from stealing hard-earned benefits, saving billions of dollars and protecting benefits for years to come. Last year, the Medicare program made almost $30 billion in improper payments, an 8.5 percent error rate. The PRIME Act would require the Centers for Medicare and Medicaid Services more closely track overpayments and implement solutions to address them.
The PRIME Act is bipartisan legislation which helps to stabilize the Medicare system. Senator Shaheen and Senator Ayotte are to be applauded for signing on to this important and timely legislation.