ERISAclaim.com Press
Release
FOR
IMMEDIATE RELEASE:
Free Overpayment Webinar Announced For
Self-insured Health Plans To Get Immediate Relief from New $1 Trillion
Overpayment Recoupment Embezzlement Market 11-23-2009, Hanover Park, IL
Overpayment Recoupment Embezzlement Fraud Is Typically Committed
Sophisticatedly By Health Plan's Third-Party Administrators (TPA) Or
"Madoff TPA" For Failing To Refund Or Return The Recouped
Overpayment Money To The Original Self-Insured Health Plans.
“Anti-Fraud Initiative Is Not
Complete Until And Unless The Recouped Overpayment Money
Originated
From The Plan Assets Is Finally Returned To The Original
Self-Insured Health Plans, Or The Fake Anti-Fraud Crusaders Are The
Real Fraud Culprit”, Said Dr. Jin Zhou.
Hanover Park,
IL (PRWEB) November 23, 2009 -- ERISAclaim.com announced today the new
free Webinars for self-insured health plans to recover their plan
assets from their TPA’s in the new $1 trillion healthcare overpayment
recoupment embezzlement market, after it launched the nation’s first
Embezzlement Recovery Services (ERS) to help midsized and large
self-insured ERISA plans to get immediate relief from the economic
recession and $2.5 trillion annual healthcare cost crisis.
The ERS Webinar
is free to all self-insured ERISA plans. It is designed to review the
industry facts and the applicable federal laws, and explain how and
why a self-insured ERISA health plan should be refunded by its TPAs
for recouped overpayment money.
These free
webinars are scheduled for 30 minutes each session, from 12:30 PM to
1:00 PM CST on 12/23, 2009, 01/27/2010 and 02/22/2010.
The
ERISAclaim.com’s new ERS service was created in the wake of the latest
launch of Department of Justice (DOL) Financial Fraud Enforcement Task
Force and recent Department Of Labor (DOL) enforcement initiative to
prosecute "embezzlement of plan assets", and the reports of possible
new $1 trillion successful and pending recoupment of the alleged
healthcare overpayment, as reported from industry news and legislative
testimony. More than 55% of employer-sponsored plan participants and
beneficiaries are from self-insured ERISA plans, and the most recouped
money for alleged overpayment or fraud were never returned to the
self-insured ERISA plans that originally paid the allegedly overpaid
healthcare claims as a part of $2.5 trillion U.S. health expenditure
annually.
Both Senate and
House Health Bills have claimed that another $849 billion or $1.025
trillion in 10 years will cover 94% or 96% of Americans. But both
health bills have mandated employers and middle-class Americans to pay
for most of these healthcare costs. If we know for sure right now
there may be $1 trillion plan assets belong to employers and working
Americans, why can't we take immediate actions to claim the part of $1
trillion to cover 95% of Americans?, said Dr. Jin Zhou, the president
of ERISAclaim.com.
Overpayment
recoupment means taking money back by self-insured plan TPAs from
healthcare providers either due to the alleged pure fraud or
retrospective benefit denial as the plan policy exclusion and
limitation or clerical errors from TPAs and/or healthcare providers.
Overpayment
plan assets recovery means returning, restoring or recovering the
recouped money to the original ERISA plans that initially paid the
alleged overpayment from the plan assets.
Overpayment
recoupment embezzlement fraud is typically committed sophisticatedly
by health plan's third-party administrators (TPA) or "Madoff TPA" in
the scams by initial negligent overpayment to healthcare providers
from the plan assets, especially from self-insured employer-sponsored
plans, and subsequent unauthorized overpayment recoupment on behalf of
self-insured plans under "anti-fraud initiatives" and ultimately
fraudulent embezzlement of plan assets by failing to refund or return
the recouped money to the original self-insured health plans,
as explained by the industry expert,
Dr. Jin Zhou.
The current
overpayment recoupment embezzlement fraud is very sophisticated and
complicated, as it was usually committed under anti-fraud campaign and
with participation of federal and state law enforcement to the extent
of the alleged healthcare provider fraud investigation and
prosecution, noted by Dr. Jin Zhou.
Federal law, 29 U.S.C.
§1106, Prohibited Transactions, specifically prohibits any TPA from
embezzling, converting, or stealing the plan assets through the
recouped overpayment money out of the plan assets.
Federal Law, 29 U.S.C.
§1104, Fiduciary Duties, requires every plan administrator and
fiduciary to defray reasonable expenses of administering the plan and
to safeguard plan assets diligently with the care, skill and prudence.
The self-insured ERISA plan administrators have statutory and
fiduciary duties to recover overpaid claims from the plan assets from
the plan’s TPAs who successfully recouped the alleged overpayment
regardless of reasons of overpayment.
“Anti-fraud initiative
is not complete until and unless the recouped overpayment money
originated from the plan assets is finally returned to the original
self-insured health plans, or the fake anti-fraud crusaders are the
real fraud culprit”, said Dr. Jin Zhou.
As the Attorney
General Eric Holder said at DOJ Financial Task Force Press Conference
on November 17, 2009, that, "This task force's mission is not just to
hold accountable those who helped bring about the last financial
meltdown, but to prevent another meltdown from happening”.
"It's not
enough to prosecute fraud only after it's become widespread," Treasury
Secretary Timothy F. Geithner said at the DOJ press conference. "We
can't wait for problems to peak before we respond. We're seeking
comprehensive financial reform to create a more stable, safer
financial system and stepping up our enforcement strategy."
ERISAclaim.com
believes that private sectors shall be the equal partners to the
federal government in fighting and preventing another financial
meltdown, and must take proactive and primary roles in conjunction
with the government fraud task force to save our economy and
healthcare system.
“Overpayment
recoupment embezzlement is a widespread financial fraud
that has gripped our
healthcare system in a possible $1 trillion healthcare overpayment
recoupment embezzlement crime,
because most recoupment actions have gone back two to six years with
$2.5 trillion health expenditure annually and $6 trillion in denied
claims annually”, said Dr. Jin Zhou,
the president of ERISAclaim.com, an industry expert on overpayment
claims.
"A successful
enforcement and recovery from $1 trillion overpayment recoupment
embezzlement market may very well finance the most, if not entire,
healthcare reform, as the House Bill passed last week will provide
coverage to 96% of Americans under $900 billion threshold outlined by
President Obama", said Dr. Jin Zhou.
ERISAclaim.com announced
this new free Webinar to help self-insured health plans to understand
and assess the nature and the extent of the overpayment recoupment
crisis, to recover and safeguard the plan assets in the new $1
trillion overpayment recoupment embezzlement market, including
recouped and to be recouped money, not only from pure fraud but also
from all retroactive denial of reimbursements for all denial reasons
in absence of any fraud in the past 5 – 6 years.
For more
information, or to arrange an interview, contact Dr. Jin Zhou,
president of ERISAclaim.com, at 630-808-7237, for free registration
info, please visit
http://ERISAclaim.com/Embezzlement_Recovery.htm.
###
Contract:
Jin Zhou,
President
ERISAclaim.com
Tel:
630-808-7237 (Mobile)
Tel:
630-736-2974 (Office)
Fax:
630-736-1439
E-mail:
ERISAclaim@aol.com
website:
http://www.ERISAclaim.com
Related Press Release links:
ERISAclaim.com
Announced The Nation's First Embezzlement Recovery Services for Large
ERISA Health Plans from the $6 Trillion Healthcare Denial Management
Market 10-23-2009, Hanover Park, IL
ERISAclaim.com Announced Free ERISA Webinar for Healthcare Overpayment
Dispute and Claim Denials in Response to Increasing High Demand from
the $6 Trillion Healthcare Denial Management Market
10-19-2009, Hanover Park, IL
ERISAclaim.com Announced the Expansion of Its ERISA Litigation Support
For the Healthcare Claims In Response to Increasing High Demand from
the $6 Trillion Healthcare Denial Management Market.
10-19-2009, Hanover Park, IL
ERISAclaim.com
Announced 2010 ERISA Seminars for Healthcare Overpayment and Claim
Denial Appeals for the $6 Trillion Healthcare Denial Management
Market.
10-14-2009, Hanover Park, IL
ERISAclaim.com
Announced the Nation's First Certification Program for the ERISA
Claim Appeal Specialist for Healthcare Providers and Managed-Care
Payers,
10-13-2009, Hanover Park, IL
Interactive Side-By-Side
Health Reform Comparison Tool of Major Proposals
(Kaiser Family Foundation)
Excerpt: "The Foundation has updated its health
reform resources to reflect provisions of the Affordable Health Care for
America Act (HR 3962) as passed on Saturday by the U.S. House of
Representatives."
Information updated 03/26/2010
