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.
Hanover Park, IL (Vocus/PRWEB) February 23, 2011
ERISAclaim.com announced 2011 free webinars and plan assets recovery programs to assist self-insured health plans to recover potentially hundreds of millions of dollars in plan assets from successful TPA overpayment recovery in billions of dollars nationwide in the past 5 to 7 years, as more than 60% of national TPA recovered money initially originated from self-insured plans and should be returned to self-insured health plans. Every plan fiduciary has statutory duties to safeguard plan assets: to audit all alleged overpayments by TPA’s and to recover every dollar in plan assets when there were known successful overpayment recoveries by the TPA’s. ERISAclaim.com offers this unique and powerful Plan Assets Recovery Program for the purpose of compliance assistance under new DOL Contributory Plans Criminal Project.
02/23/2011: DOL EBSA News Release (http://www.dol.gov/opa/media/press/ebsa/EBSA20110228.htm):
"Morrow, Ohio-based third-party plan administrator pleads guilty to embezzlement of $1 million from retirement plan clients [02/23/2011]"
“The third-party administrator to 56 employee benefit plans — most covered by the Employee Retirement Income Security Act — located throughout Ohio and several other states pleaded guilty to one count of embezzlement of $1 million in assets from 12 retirement plans.”
“This defendant's theft of employee benefit assets jeopardized the retirement security of workers covered by these plans. This crime is particularly egregious in light of the duty of plan officials and service providers to protect plan assets from abuse," said Phyllis C. Borzi, assistant secretary of the Labor Department's Employee Benefits Security Administration.”
In the last 7 years, there have been wide reports of industry successful healthcare anti-fraud and overpayment recovery in more than billions of dollars. On November 16, 2010, U.S. Labor Department announced nationwide enforcement actions to protect millions of dollars in worker retirement and health benefits.
DOL EBSA: Contributory Plans Criminal Project Fact Sheet States:
“Millions of American workers share in the costs of employee benefits by contributing to employer sponsored retirement and health benefit plans. In 2010, the Department of Labor’s Employee Benefits Security Administration (EBSA) initiated the Contributory Plans Criminal Project (CPCP) to combat criminal abuse of contributory benefit plans.” http://www.dol.gov/ebsa/pdf/fscpcp.pdf
“It is simple and clear that when a contributory benefit plan initially overpaid millions of dollars due to a TPA’s errors, and several years later, the same TPA recovered the said overpayment in its anti-fraud operation, such recovered money should have been returned to the self-insured health plans, and must not be converted or embezzled into the TPA assets,” said Dr. Jin Zhou, President of ERISAclaim.com, a national expert in ERISA Compliance, Claims and Appeals.
“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,” added Dr. Jin Zhou.
ERISAclaim.com Webinars are designed to assist self-insured health plans to comply with ERISA fiduciary laws safeguarding contributory plan assets, and to assist with DOL EBSA Contributory Plans Criminal Project:
“EBSA works closely with other federal, state, and local agencies to enforce laws safeguarding contributory plan assets. Criminal prosecution of individuals who abuse their authority or control over contributory plans can result in severe criminal penalties, including imprisonment. Those convicted of embezzling or misappropriating moneys intended to fund pension plans or pay health benefits typically are barred from providing services or acting in any capacity for a period of 13 years.” http://www.dol.gov/ebsa/pdf/fscpcp.pdf
ERISAclaim.com Webinars are timely and important for all self-insured health plans while national healthcare expenditure is escalating to $2.7 trillion, and more than 60% of working Americans and their families are covered under self-insured employer sponsored health plans, and the industry overpayment recovery is so successful with reported recovery of more than billions of dollars in the past 5 – 7 years, explained Dr. Zhou.
ERISAclaim.com Webinars are 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.
Located in a Chicago suburb in Illinois, ERISAclaim.com offers ERISA compliance, education and consulting services to healthcare providers, health plans and reimbursement industry. It is the only ERISA & PPACA consulting, publishing and website resource for healthcare providers in the country. ERISAclaim.com offers free webinars, basic and advanced educational seminars and on-site claims specialist certification programs for doctors, hospitals and commercial companies, as well as litigation support. Dr. Jin Zhou is regarded as the industry “Godfather of ERISA claims” for healthcare providers.
For free registration info, please visit http://ERISAclaim.com/Embezzlement_Recovery.htm.
For more information, or to arrange an interview, contact Dr. Jin Zhou, president of ERISAclaim.com, at 630-808-7237.