A former New York, N.Y., insurance producer pleaded guilty to defrauding three life insurance companies of about $33 million, one year after he was sent to prison for three years for a similar life insurance scheme.
Three men – the alleged ringleader, a doctor and a pharmacist — were indicted today (Feb. 15) for their alleged role in a narcotics ring that defrauded Medicaid and each week distributed black-market prescription pain pills in part of New Jersey.
Three insurance brokers from Maryland and their two companies face criminal charges for allegedly conspiring to steal $216,495 from a New Jersey city by collecting payments for a non-existent wellness program for city employees.
The owner of an Essex County pain management center will pay more than $88,000 in penalties and restitution through a deal with New Jersey officials to settle allegations including fraudulently billing insurance companies.
Two pharmacy technicians received sentences including three years of probation for their role in a scheme to defraud Medicaid by billing for expensive HIV/AIDS prescriptions that were never dispensed.
A New York doctor was sentenced to three years in state prison for unnecessary selling prescriptions to Medicaid recipients, leading to more than $685,000 in fraudulent billings.
As a direct result of the Patient Protection and Affordable Care Act (PPACA) – also known as ObamaCare – health insurance agent and broker commissions have been slashed by as much as 50%. Agencies have been forced to lay off employees, limit products and services, shift to other lines, and have seen significant drops in compensation.