With the passage of the PP&AC Act comes many new laws, so many in fact that most American still know little about them and are confused about what it all means to them. One segment of the American population to be most confused and concerned about the changes affecting them are senior citizens. And where there is confusion you will always find devious individuals who will try to profit from that confusion.
Shortly after President Obama signed the PP&AC Act into law, there was a cable television advertisement that told viewers to call an 800 number to take advantage of a “limited enrollment” period to get special coverage that is now entitled to them by the passage of health care reform. There are also several news articles going around reporting that there are door-to-door salespeople going around selling “Obamacare” insurance policies.
Combine confusion about the new laws and the fear generated by the worst economy since the depression and you have a perfect mix for scammers to take advantage of consumers, especially senior citizens. As agents, we encourage you to talk to your clients and tell them to beware of any potential offers they receive in relation to their health care. This also means you’ll have to stay abreast of the latest scams as well. Here are some areas of the Act that could potentially be exploited:
The $250 prescription drug rebate for Part D – scammers may offer expedited payment for a price.
The creation of Plan B – federal and state governments have 90 days to create this program, but scammers may likely start selling policies for this Plan B though it won’t exist for quite awhile.
Better access to nursing home records – scammers may offer bogus data services whereby they try to get seniors and their families to pay a lump sum or for a subscription for data on nursing homes that is either falsified or that is freely available elsewhere.
Of course there are numerous areas of the bill that will be exploited so be prepared to see all manner of exploits. To verify any offer received by your clients, one of the best ways to do so is to call your state insurance department and see if the entity offering the deal to your client is licensed to do business in your state.
If you come across any scams, we encourage you to let us know so that we may warn the entire PSM community. Stay vigilant.
Precision Senior Marketing will close at noon CST in observance of the Easter holiday. For immediate inquiries e-mail us at info@psmbrokerage.com. Thank you for your business have a good holiday weekend.
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