5. May 2009 20:30
President Obama on Thursday is scheduled to release additional details of his fiscal year 2010 budget proposal, which will include $13.7 billion over five years for "program integrity" initiatives to increase oversight and eliminate fraud and errors in federal programs, including Medicare and Medicaid, the Wall Street Journal reports.
The request includes $1.7 billion over five years to police health care fraud. The Obama administration estimates that every dollar HHS spends addressing health care fraud results in $1.60 in cost reductions. In addition, the administration plans to spend $4.3 billion over five years to reduce fraud associated with disability claims paid by the Social Security Administration. According to officials, SSA saves $11 for every dollar spent on fraud reduction efforts.
In total, administration officials estimate that all of the initiatives will result in $35 billion in savings through increased tax revenue and lowered benefit payments (Weisman, Wall Street Journal, 5/5).
In related news, Obama on Monday announced plans to overhaul international tax rules, which could result in revenue that could be used in part to fund health care overhaul efforts, according to the Journal (McKinnon, Wall Street Journal, 5/5).
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