What does Medicare Fraud and Abuse Insurance mean? Read on to discover the definition & meaning of the term Medicare Fraud and Abuse Insurance - to help you better understand the language used in insurance policies.
Medicare Fraud and Abuse Insurance
Coverage for allegations that an insured healthcare provider overbilled the federal government in seeking reimbursement for services performed under Medicare. Offered as an endorsement to physicians and hospital professional liability insurance policies, this coverage became prevalent in the late 1990s when the federal government initiated concerted efforts to pursue Medicare billing violations by healthcare providers. The policies exclude coverage for fines, penalties, and punitive damages, and coverage is limited to defense cost reimbursement only.
We hope the you have a better understanding of the meaning of Medicare Fraud and Abuse Insurance.