Avoiding scams and frauds during Medicare’s annual enrollment

Whether you are looking to find a new insurance provider, switching from Medicare Advantage to Medicare supplement insurance, or signing up for Medicare for the first time, it can be a challenging process. Along with all the ads aimed at you, there are also scams and frauds targeted at you.

This time of year is especially focused on seniors in these situations because of Medicare's annual enrollment period (AEP). Any enrollment period can add a sense of urgency and stress to the decisions you'll be making.

The scammers know about enrollment periods too.

They can often pretend to be from Medicare, or from other health insurance providers. They may reach out to a potential victim and ask for things like bank account information, credit card numbers, or even cash. Scammers can also ask for your Medicare number or Customer ID information to try and file fake claims using your information.

Scams and frauds like this are becoming more common. We must all stay informed to safely navigate these threats. These tips on spotting scams and frauds were accumulated from the Federal Trade Commission on avoiding scams, Federal Deposit Insurance Corporation, and the Better Business Bureau.

Create strong passwords

Coming up with secure passwords can feel overwhelming, especially when you need to remember them and update them regularly. But it is worth the effort. A strong password is often a memorable phrase that is unique to you. Avoid using personal details that others can easily find or guess.

Monitor your financial accounts

Although simple, reviewing your bank and credit card statements frequently requires diligence. Look for any suspicious transactions and report any inconsistencies to protect your financial security.

Safeguard your sensitive information

Think twice before sharing personal details like Social Security numbers or financial information. While there may be instances where sharing is necessary, legitimate providers will almost never ask for personal information over the phone or in an email. Make sure you're speaking with trusted sources.

Be cautious of unsolicited contacts

Scammers often use emails, phone calls, or messages to target victims. Approach unexpected communications with caution, and never share personal information over the phone unless you are certain of the caller's identity.

Watch out for impersonators

Fraudsters can pretend to be family members, government agencies, or trusted organizations. Always verify the legitimacy of these communications through independent channels to avoid falling victim to impersonation scams.

Don't be rushed into decisions

Scammers will often create a false sense of urgency to pressure you into quick decisions. Take your time, ask for clarification if needed, and never be afraid to delay a decision until you're sure. You have the right to verify details before proceeding.

Enable two-factor authentication

Adding two-factor authentication to your online accounts provides an extra security layer. This often involves entering a password followed by a verification code sent to your phone. Once you get the hang of it, it's an easy and effective way to boost your online protection.

Balance vigilance with connection

Being aware and informed is the best defense against scams, but don't let caution turn into fear. By learning and applying safety measures, you can confidently navigate the digital world while keeping your guard up. It's easy to become overly wary, but not every point of contact is a threat. Educating yourself on security best practices can help you stay connected without isolating yourself from the world.

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