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Wisconsin Physicians Service Insurance Corporation Understated Its Medicare Segment Pension Assets for Its Managerial Pension Plan

Issued on  | Posted on  | Report number: A-07-17-00518

Report Materials

Wisconsin Physicians Service Insurance Corporation understated its Medicare segment pension assets as of December 31, 2013, by $3.2 million.

18-A-07-048.01 to CMS - Closed Implemented
Closed on 01/18/2018
We recommend that WPS increase the Medicare segment pension assets by $3,214,152 and recognize $68,813,688 as the Medicare segment pension assets as of December 31, 2013.

18-A-07-048.02 to CMS - Closed Implemented
Closed on 01/18/2018
We recommend that WPS implement controls, including policies and procedures, to ensure compliance with Federal regulations and the pension segmentation language of the Medicare contracts.

View in Recommendation Tracker
Report Type
Audit
HHS Agencies
Centers for Medicare and Medicaid Services
Issue Areas
Contracts
Target Groups
Elderly
Financial Groups
Medicare A Medicare B

Notice

This report may be subject to section 5274 of the National Defense Authorization Act Fiscal Year 2023, 117 Pub. L. 263.