Sep
21
2015
0

Don’t Be A Victim Of Fraud and Financial Abuse

A 2013 study published by the MetLife Mature Market Institute estimated that elders are defrauded of approximately $2.9 billion dollars annually. The reason for this seems to be that older people are too trusting of strangers. My own father, who was in sales his entire life, was too easily talked into buying things he did not need or that had no value.

Health Care Scams: The National Council on Aging has reported that scammers, pretending to be health insurance or Medicare representatives, are calling older people in order to gain access to social security numbers, driver’s license numbers and other personal information. These scammers will use this information to bill Medicare and then take the proceeds. They will also use this information to commit identity theft on the older person.

Grandchild Scams: Scammers will call an older person and say something like, “Hi Grandma, do you know who this is?” The older person will guess a name, and the scammer will say, I love you Grandma, can you send me some money? I promise I will pay it back right away.” The older person will send money to the scammer.

A few tips from the National Council on Aging for avoiding fraud and scams are as follows: (1) Do not sign blank insurance claim forms; (2) Do not give out your Medicare identification information except to your actual providers; (3) Always take your time in making a decision before purchasing anything; and (4) Do not allow yourself to be pressured into making purchases, signing contracts, or committing funds to purchase anything.

For additional information please feel free to contact our office.

This information is not to be taken as legal advice, and you are encouraged to see your elder law attorney. At the Law Offices of Michael J. Young, at 1931 San Miguel Dr., Ste. 220, Walnut Creek, CA www.WalnutCreekElderLaw, 925-256-0298, lawyoung1@gmail.com we practice Elder Law and we help Baby Boomers, Seniors and families through their Elder Care Journey. We help families with long-term care planning, asset-protection plans, comprehensive estate planning, wills, trusts and powers of attorney. We also help Baby Boomers and families get their “Ducks in a Row” in order help them qualify for Medi-Cal and the VA Aid & Attendance Improved Pension benefit.

Powered by WordPress | Theme: Aeros 2.0 by TheBuckmaker.com