Medicare Fraud Is More Common Than You May Think. Here's What You Need to Know
Medicare open enrollment time is here, and it brings with it an important warning for older Americans: Beware of fraud.
Around 37% of adult caregivers say the seniors they care for have been affected by financial abuse in some form, according to a survey by Allianz Life, and the average loss among victims is $36,000. While anyone can be targeted by fraudsters, seniors are particularly vulnerable, because they often have hundreds of thousands of dollars saved for retirement and tend to be more trusting of strangers online or over the phone.
For that reason, it's more important than ever that retirees enrolling in Medicare are careful to protect themselves (and their nest eggs).
Source: Fool.com
