The Medicare open enrollment period is like candy for scammers, with all the elements for a good con. During this time, seniors provide vital personal information to Medicare, which scammers may use to access their financial accounts or submit fraudulent medical claims. Scammers also know that seniors are ideal victims because they are more likely to answer the phone, be socially isolated, have significant savings or have cognitive deficits. In fact, if you or a loved one fell for a financial scam, it may be time to get tested for dementia.
Medicare recently suffered a massive data breach. The personal information of more than 900,000 Medicare beneficiaries was exposed during a data breach that occurred between May 27 and May 31, 2023. The information was stolen from a Medicare contractor, Wisconsin Physicians Service Insurance Corporation (WPS), a business that processes Medicare claims.
