(The Epoch Times)—The Centers for Medicare and Medicaid Services (CMS) has uncovered more Medicaid funds unlawfully spent on health care for illegal immigrants, reaching $1.8 billion in eight states, Administrator Dr. Mehmet Oz announced on Jan. 14.
“It’s worse than we thought,” Oz posted on X.
Spending federal Medicaid funds on non-emergency health care for illegal immigrants is against the law, according to CMS.
If states use their own money to do it, the states need to document the spending to prove that federal dollars were not used to fund the services, Oz said.
“These states failed to provide that for this $1.8 billion,” Oz stated.
“So today, CMS is announcing that we’re withholding nearly $300 million from California—which is by far the worst offender—until they demonstrate to our satisfaction that they’re spending that money properly,” Oz said.
California Gov. Gavin Newsom’s office did not immediately return a request for comment about the withheld funding.
In 2021, Newsom became the first governor in the nation to expand medical coverage through the state’s Medi-Cal plan for illegal immigrants by signing into law a bill to cover all illegal immigrants ages 50 and over for preventative services and long-term care. In 2019, California also expanded coverage for all illegal immigrants up to age 26.
The cost of providing the coverage, however, has ballooned over the last few years to $10 billion annually, according to the latest Legislative Analyst’s Office. About 1.7 million Medi-Cal enrollees are illegal immigrants—about 11 percent of total enrollees.
In October 2025, CMS flagged $1.3 billion in Medicaid funds in five states and the District of Columbia that the agency suspected were unlawfully spent on health care for illegal immigrants.
Since then, Oz said the agency has gathered more information, and the total has grown and covered two additional states, but didn’t release details or identify the additional states.
“Medicaid dollars belong to Americans, not illegal immigrants, and we won’t stop until we’ve held rogue states accountable and recovered their misspent funds,” Oz said.
He is also expected to release additional information about the findings.
Last year, Oz announced CMS began auditing state Medicaid programs to ensure they were following the law and not spending federal funds on illegal immigrants.
A preliminary review found five states and the District of Columbia were allegedly spending federal funds improperly—California ($1.3 million); the District of Columbia ($2.1 million); Illinois ($29.8 million); Washington ($2.4 million); Colorado ($1.5 million); and Oregon ($5.4 million).
The states were notified in October, and many began refunding the money, according to Oz.
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Why Bullion Beats Numismatics and Collectible for Your Safe or IRA
Precious metals continue to attract Americans seeking reliable ways to protect their wealth amid inflation, geopolitical risks, and stock market swings. Whether stored in a home safe or held inside a self-directed IRA, physical gold and silver deliver tangible value that paper or digital assets often lack. Yet investors must choose carefully between bullion—pure bars and coins valued mainly for their metal content—and numismatics or collectibles, where rarity, history, and collector demand heavily influence pricing.
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Bullion consists of refined precious metals in standard forms like one-ounce coins (American Gold Eagles, Silver Eagles, Canadian Maple Leafs) or bars. Their value tracks closely to the current spot price of the metal. A typical gold bullion coin trades near the live gold spot price plus a small premium. This structure keeps costs clear and predictable.
Numismatic coins and collectibles add substantial value from factors such as age, rarity, minting errors, or historical significance. A pre-1933 U.S. gold coin or graded proof piece can carry premiums of 30%, 50%, or even 200% above melt value. While this appeals to hobbyists, it creates complexity. Pricing depends on subjective grading, collector trends, and auction results instead of daily spot prices.
For investors focused on wealth preservation and retirement security rather than building a collection, bullion often delivers better results.
Lower Costs and Better Liquidity for Home Storage
When keeping metals in a home safe or private vault, liquidity and efficiency count. Bullion offers clear benefits:
- You acquire more actual gold or silver per dollar invested. Numismatics divert a large share of your money into rarity premiums and massive sales commission, reducing your metal exposure.
- Selling bullion involves tight bid-ask spreads, so you recover nearly full spot value with minimal fees. Collectibles require finding the right buyer and may sell at a discount if demand for that specific item weakens.
- Bullion prices remain transparent and update with global spot markets. You can track gold near current levels or silver accordingly and know exactly where your holdings stand. Numismatic values are priced by the Gold IRA companies with hefty margins applied.
- Standardized coins and bars store efficiently and divide easily for partial sales. Rare coins often need protective slabs and controlled conditions, adding hassle and expense.
- Bullion enjoys worldwide acceptance. A 1-oz Gold Maple Leaf or Silver Eagle sells quickly to dealers anywhere. Niche numismatic pieces may appeal only to limited buyers, slowing liquidation when speed matters.
In times when quick access to value becomes important, bullion’s simplicity stands out.
Stronger Fit for Precious Metals IRAs
Precious metals IRAs continue gaining traction as investors diversify retirement portfolios beyond stocks and bonds. IRS rules permit certain bullion products in self-directed IRAs if they meet purity standards (.995 fine for gold, .999 for silver) and are held by an approved custodian. Eligible items include American Gold and Silver Eagles plus many generic bars and rounds from recognized mints.
Numismatic and most collectible coins generally face heavy scrutiny from custodians due to valuation disputes and elevated markups. These higher premiums mean less actual metal ends up working inside the account.
Bullion avoids these issues. Its value links directly to verifiable spot prices, which simplifies reporting and lowers the risk of regulatory challenges. More of your IRA contribution purchases real metal instead of dealer profits or speculative upside. Over time, owning additional ounces that appreciate with the metal itself can create meaningful outperformance compared with high-premium alternatives that deliver fewer ounces.
Regulatory guidance from the CFTC and state securities offices repeatedly cautions against aggressive sales of expensive numismatics or “semi-numismatic” coins for IRAs. For retirement planning, transparent bullion from established providers reduces risk and aligns better with long-term goals.
How to Get Started with Bullion
Begin by clarifying your goals. Are you protecting savings in a safe, or moving part of a retirement account into a precious metals IRA? Focus on the number of ounces you can acquire at current prices rather than chasing marked-up collectibles.
Diversify sensibly: use gold for core preservation and silver for its blend of industrial and monetary qualities. Mix coins for easier divisibility with bars for lower per-ounce costs on larger buys. Arrange secure storage—whether at home with proper insurance or through professional facilities.
As economic uncertainties linger and faith in conventional assets erodes, bullion continues proving its worth as a dependable store of value. Its direct approach avoids the hype that sometimes surrounds collectible markets and keeps the focus on the metal itself.
For investors prepared to strengthen their portfolios, Advisor Bullion supplies the expertise and selection needed to acquire high-quality bullion efficiently. Whether building personal holdings or integrating metals into an IRA, their emphasis on transparent, investment-grade products helps secure more ounces today that support greater financial security tomorrow. In a complicated financial landscape, bullion’s clarity and reliability make it the smarter foundation for protecting what matters most.
