Report Materials
EXECUTIVE SUMMARY:
This final audit report points that Independence Blue Cross (IBC) claimed approximately $1.7 million in unallowable costs for the 3-year period ended September 30, 1989. The unallowable costs consisted of expenditures in excess of budgeted amounts, costs of nonapproved investment projects, and credits due, but not made, to the Medicare line of business. In addition to financial adjustments, we recommended procedural improvements. Health Care Financing Administration officials generally concurred with our recommendations.
Notice
This report may be subject to section 5274 of the National Defense Authorization Act Fiscal Year 2023, 117 Pub. L. 263.