BBB Warns that Insurance Scams Are Flourishing in Current Economy
In the midst of a tight economy and in the wake of the new national healthcare reform bill, State and Federal regulators are warning about a surge in healthcare-related scams. Better Business Bureau advises consumers to do their research before signing up for insurance coverage because their personal and financial health is on the line.
Guard Your Health Insurance Card
You may want to make sure you know where your health insurance card is. According to a new study, 7 percent of identity fraud victims this year reported identity thieves stole their health insurance information, up from just 3 percent last year. Such health insurance identity theft occurs when someone impersonates someone else at a hospital or doctor's office using a stolen health insurance card or care coverage for surgery or other treatment. People often learn they are victims of such fraud when they get a medical bill or a notice about what will be covered from their health insurance company. The rise of this relatively new area of identity fraud is mainly because of two factors : medical providers' putting more records in more easily accessible electronic form, and the large numbers of people unable to get health care coverage.
Health Care Fraud
The FBI is the primary investigative agency with jurisdiction over both federal and private insurance programs. With total health care expenditures in the U.S. expected to reach $2.26 trillion by 2016 the opportunity for fraud will continue to grow. That means we have to find ways to leverage our resources. Read more about health care fraud facts and tips to help avoid being victimized.