Department of Health and Human Services
Office of Inspector General -- AUDIT
"Audit of the Pension Plan at a Terminated Medicare Contractor, Horizon Blue Cross Blue Shield of New Jersey," (A-07-02-03028)
March 11, 2004
Complete Text of Report is available in PDF format (1.06 mb). Copies can also be obtained by contacting the Office of Public Affairs at 202-619-1343.
EXECUTIVE SUMMARY:
Horizon was a Medicare contractor until its contract was terminated in 2000. Because Medicare contracts specifically prohibit contractors from profiting from Medicare activities, pension gains which exist when a Medicare segment closes must be credited back to the program. Accordingly, we recommended that Horizon remit $3,812,504 in excess pension assets to the Medicare program.