Bloomberg: Warren Seeks Faster Crackdown on Insurers Overcharging Medicare by Billions

Democratic Senator Elizabeth Warren urged the Biden administration to advance a proposed rule before Donald Trump takes office to crack down on insurance companies that she says are overcharging Medicare by more than $80 billion.

At issue is Medicare Advantage, the private version of the health program for seniors that's been a fast-growing market for insurance companies such as Humana Inc., UnitedHealth Group Inc. and CVS Health Corp.'s Aetna unit. Warren said excessive payments to private insurers will put more financial stress on Medicare during Trump's second term, according to a letter seen by Bloomberg News.

"Without your swift action, the situation will only worsen," with Trump policies set to cut taxes at the expense of social programs, Warren wrote in a letter to Centers for Medicare and Medicaid Services Administrator Chiquita Brooks-LaSure. The letter was also signed by Lloyd Doggett, a Democratic congressman from Texas.

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