Review of Pension Costs Claimed for Medicare Reimbursement by Horizon Blue Cross Blue Shield of New Jersey

EXECUTIVE SUMMARY:

The objective of this review was to determine the allowability of pension costs claimed for Medicare reimbursement for fiscal years 1986 through 2000.  For this period we determined that Horizon overclaimed Medicare pension costs by $373,452.  This occurred because because Horizon claimed pension costs that it had not funded for the years 1993 and 1997 through 2000.