No one wants to become a victim of a scam, but when it comes to Medicare, seniors are often targeted. Medicare is a government program that provides health insurance for people over the age of 65, and as such, scammers see it as an easy target. In this blog post, I'll explain some common Medicare scams and how to avoid them. I hope this information helps keep you safe and secure during your golden years!
Be On The Lookout For Medicare Marketing Misconduct
During the annual enrollment period (Oct 15-Dec 07), beneficiaries should be on the lookout for scams and unscrupulous marketing techniques perpetuated by immoral Medicare brokers, Advertisers, and Agencies. Improper Medicare marketing ranks high on that list.
Understanding Medicare and all it has to offer is a challenge. Because of this, some insurance brokers use dishonest and hard-sell tactics to win over members and enroll them in plans that either don’t benefit them or might be carbon copies of when they already have. They may remove seniors from Original Medicare and enroll them in Medicare health plans that they may not need or can afford. More often than not, without their knowledge.
You Have The Power To Keep Medicare Advantage Brokers Honest
Let me make this perfectly clear...
A Health Broker cannot infer that they are Official Medicare Agents - working for Medicare.
A Broker cannot cold call you, show up at your door or hand out their business card or approach, or solicit you in any way in any setting under any circumstances.
Only YOU can initiate contact, and the interview/meeting must be specific. If you want to discuss Advantage plans, you must sign a form (Scope of Appointment) indicating that you agree to discuss a specific topic (Medicare Advantage.)
The Charleston area broker must abide by this form. You have the power to keep these so-called brokers honest by reporting any fraudulent activity to CMS/Medicare.
The Benefits of a Local Medicare Broker
The fact is that Medicare does not employ Medicare brokers. Ignore cold calls and be suspicious of anyone that shows up at your home unannounced offering to sell you Medicare products.
If you’ve been on Medicare for a couple of years, you should have a local broker or know someone on Medicare that can refer you to a Charleston insurance broker.
Why talk to a stranger on the phone at a call center from another state when you can deal with an honest local person. One who knows the Charleston Lowcountry area, the doctors, and hospitals can better relate to your wants and needs.
Celebrities and Medicare Misrepresentation
Keep in mind that most insurance agents are good and honest. They sell on behalf of a specific health plan or are brokers representing many health plans that offer Medicare Advantage, Part D, and Medicare Supplement plans.
Legitimate firms and agencies are not scammers. They sell and represent legitimate Medicare plans. It’s the telemarketing with celebrities that misrepresent all that Medicare offers that are the most misleading.
The Do's and Don'ts of Marketing and Educational Events
Marketing and Educational events are a great way to get interested beneficiaries together for a broker to discuss Medicare products or just Medicare in general. An educational event cannot promote a specific Medicare plan. It’s a general discussion about Medicare. A Marketing event must be particular to the plan that you’re there for.
Cross-Selling: An agent cannot sell you a non-Medicare-related product during an MAPD meeting that you just signed up for; an agent cannot try to sell you life insurance, for example. He must make another appointment for that service.
How To Protect Yourself
Never give out your personal information (SS card, Medicare Information) to anyone over the phone or in-person if you don’t know them. If the meeting was arranged and you are enrolling, they’ll need your Medicare information but not your SS number.
If you believe that an agent is acting unethically, report them to the Federal Trade Commission at ReportFraud.ftc.gov, call 1-877-FTC-HELP, or call 1-800-MEDICARE.
Wrapping It All Up
It's important to be aware of the potential for fraud when it comes to Medicare Advantage plans. There are a few key things you can do to protect yourself from being scammed, like being suspicious of unsolicited contact and never giving out personal information unless you're absolutely sure about whom you're talking to.
If you have any suspicions at all, don't hesitate to report them to the FTC or Medicare. And finally, remember that legitimate brokers are out there and can be a valuable resource for getting the most out of your Medicare Advantage plan. Do your research and choose someone you trust to help you navigate the world of Medicare Advantage plans.
Thanks for reading!
Nick Sarant, of Palmetto Medicare Health Services is Charleston, South Carolina's go-to licensed Medicare plan and health insurance broker. With years of experience in the industry, he is committed to helping people get the most out of their Medicare Advantage plans. If you're in the Charleston area and looking for help with your Medicare Advantage plan, give Nick a call today!
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