Medicare Fraud: Don’t Fall for the Call!

During the fall time, the flu isn’t the only thing going around. Retirees need to be on the lookout for Medicare fraud too.

What is Medicare Fraud?

Fraud is any act in which a scam artist claims to be from Medicare and tries to gain access to your personal information. During Medicare’s open enrollment (a.k.a. the Annual Enrollment Period), Medicare fraud increases dramatically. We hear stories from many retirees who are asked by strangers over the phone and even at their door for banking information, Medicare ID numbers, etc.

RetireMEDiQ Clients and Their Experience with Medicare Fraud

Recently, two RetireMEDiQ clients encountered Medicare fraud, but they knew what to do!

The couple received a phone call from a man claiming he was with Medicare. He said that some of the couple’s doctors would no longer see them unless they both had updated Medicare ID cards. The caller said he needed some information in order to process new Medicare cards. He proceeded to list the retirees’ names, address, phone number, the name of their bank and even their bank’s routing number! All they had to provide was their bank account number.

The couple was suspicious, but after all, this gentleman had all of their information. This had to be legitimate, right? Still, they were unsure. They asked to speak with a “supervisor” who verified that everything the original caller said was true. However, when the couple asked to get the organization’s phone number, the call was mysteriously disconnected.

The whole situation smelled fishy to our clients, so they immediately called us. After speaking to a member of our Client Services Team, they confirmed their suspicions. The caller was not from Medicare and the couple had avoided becoming victims of Medicare fraud!

How Much is Wasted Due to Medicare Fraud?

According to the US Administration on Aging, somewhere between $60 billion and $90 billion is lost each year due to Medicare fraud. There’s no denying it – individuals on Medicare are targets of these scams.

So what can you do to ensure you do not become a victim of these schemes? Be like our clients and play it safe!

  1. Keep your personal information to yourself. Medicare will never call you, so anyone on the phone who asks for your banking information, your Medicare ID number or tells you that they are from Medicare is probably a scam artist.
  2. Be careful about “free” offers. They don’t say “there’s no such thing as free lunch” for nothing! If someone calls you with a Medicare offer that sounds too good to be true, it probably is.
  3. Get the caller’s information, hang up and call RetireMEDiQ immediately. If you are a RetireMEDiQ client, then you can count on us to help you with these sorts of issues. Try to get the individual or organization’s information, hang up and call us at 1-866-600-5638.

We are always looking out for you and are ready to help you avoid Medicare fraud!

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