Free Webinar Announced For Self-insured Plans To Get Immediate Relief from New $1 Trillion Market

The ERS Webinar is free to all self-insured ERISA plans and to review the industry facts and the applicable federal laws for immediate relief from the new $1 trillion overpayment recoupment market.
By: Jin Zhou, ERISAclaim.com
 
Nov. 20, 2009 - PRLog -- Free Healthcare Webinar Announced For Self-insured Health Plans To Get Immediate Relief from New $1 Trillion Overpayment Recoupment Embezzlement Market

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. The ERS Webinar is free to all self-insured ERISA plans and to review the industry facts and the applicable federal laws for  immediate relief from the $1 trillion overpayment recoupment market.

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.

Registration information will be available at: http://erisaclaim.com/Embezzlement_Recovery.htm.

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 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 or crime 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.

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.

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 investigate the alleged negligence and fraud in alleged overpayment inconsistent with plan provisions, and to take immediate actions to recover from the plan’s TPAs with successful recoupment for the alleged overpayment from the plan assets. A TPA shall return the unused or recouped plan assets to the original ERISA plan within six months.

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 about $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.

"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, the president of ERISAclaim.com.

About ERISAclaim.com:

ERISAclaim.com, located in northwestern suburb of Chicago, Illinois, is an online publisher, consultant and educator for ERISA claim education, training and consulting as well as claims recovery for ERISA healthcare claims for the past 10 years. With unique knowledge of industry known facts, ERISAclaim.com has launched the nation's first unique embezzlement recovery service to help midsized and large sized ERISA plans to recover millions of dollars on a complete contingency basis.

For more information,  or to arrange an interview, contact 630-808-7237.Dr. Jin Zhou, president of ERISAclaim.com, for free registration info, please visit http://ERISAclaim.com/Embezzlement_Recovery.htm.

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ERISAclaim.com, located in northwestern suburb of Chicago, Illinois, is an online publisher, consultant and educator for ERISA claim education, training and consulting as well as claims recovery for ERISA healthcare claims. It also provides ERISA litigation support, research assistance and fraud and abuse prevention. With unique knowledge of industry known facts, ERISAclaim.com has launched the nation's first unique embezzlement recovery service to help midsized and large sized ERISA plans to recover millions of dollars on a complete contingency basis, to recoup as much as possible from the recoverable but overpaid healthcare dollars to the original payers and owners who initially paid out overpaid claims by TPAs and ASOs and are now entitled to the ownership for and the possession to an estimated billions of dollars in the $6 trillion dollar healthcare denial management market. ERISAclaim.com also provides education for Medicare overpayment appeals, fraud and abuse prevention.
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Source:Jin Zhou, ERISAclaim.com
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Tags:Healthcare, Overpayment, Recoupment, Anti-fraud, Insurance, Blue Cross, Aetna, Cigna, Unitedhealthcare, Humana, Refund
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Location:Bartlett - Illinois - United States
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