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Springfield insurance broker gets 12 years for Medicaid fraud

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A Springfield insurance broker received 12 years in state prison for misappropriating more than $700,000 from Medicaid.

The sentence is the longest in state history for Medicaid fraud, according to Attorney General Chris Koster's office, and was handed down by Greene County Circuit Court.

Kevin Wayne Louderback pleaded guilty in December to 12 counts of Medicaid fraud, according to a news release from Koster's office. Louderback furnished applications with false information to the Missouri Health Insurance Premium Payment Program, which pays private health insurance premiums for certain individuals with high medical costs.

Louderback told customers that the monthly insurance premium rates were higher than they actually were and pocketed the overpayment, the release said, as well as offering kickbacks to get people to enroll in insurance programs.

According to previous Springfield Business Journal coverage, the state Department of Insurance, Financial Institutions and Professional Registration issued a cease-and-desist order against Louderback in 2008 when he acted as a representative of Premier Financial Services and nonprofit corporation Citizens for AIDS Assistance.

"This 12-year sentence is indicative of the success of our efforts to increase enforcement of Missouri’s Medicaid fraud laws," Koster said in the release. "This is the sentence my office recommended, this is an appropriate sentence, and I am gratified that justice has been served.”[[In-content Ad]]

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