The cost of prescription drugs, home health care, and other medical expenses are one less thing to worry about thanks to Medicare. However, this doesn’t mean you’re completely in the clear. With millions of people currently enrolled in Medicare plans, it’s common for fraud and abuse of this program to take place.
Fortunately, Ari Parker, the lead licensed Medicare advisor at Chapter, offers ways to spot and protect yourself against this type of fraud – and ensure that your personal information is safe.
What is considered Medicare abuse?
Medicare abuse is when people fall victim to schemes offering free medical supplies or claims about refunds in exchange for social security numbers, Medicare numbers, and credit card information.
The FBI estimates that around $3 billion of losses occur annually from Medicare abuse and other kinds of fraud, as adults 65 and over are typically targeted. “Scammers often prey on the elderly because this demographic has built up savings over years of work experience as well as a credit history, which makes them the ideal target for credit card fraud,” Parker explains to Woman’s World.
He adds that Medicare fraud and abuse can be caused by providers, beneficiaries, and scammers – and generally results in higher costs and taxes for everyone.
What is the most common type of Medicare abuse?
Parker notes that one of the most common forms of Medicare abuse is scams. This is where scammers act as…
