Study: Seniors big target for scammers - New York News

FOX 5 I-Team investigates

Study: Seniors big target for scammers

Posted: Updated:
ATLANTA -

Local senior care experts warn that the elderly population has become a big target for scammers. With the growing number of elderly, and more sophisticated scammers, the combination can be a recipe for disaster.

According to a Met Life study, elder financial abuse racked up a $2.9 billion cost. The study also says that cost is increasing.

First, Medicaid and Medicare scams have the highest average loss per consumer -- $38,000. So, make sure you're not being doubled billed. And be sure that no one else is using your patient number and billing to you.

Second, there is medication fraud.  If you're paying for a brand name prescription, make sure you're not getting the generic brand.

Third, general financial exploitation can take many forms. The elderly get lonely, and this is where a good con man steps in. The con man befriends them, and then takes over their accounts, or maybe a will. He may convince an elderly person into paying much more for a service than they need to be paying.

So, what can you do?

If you're not around, make sure your elderly parents or relatives have someone around they can trust. Always double check their finances to make sure money is being spent the way it is supposed be.

For a links on the issue, and more tips, visit Dana Fowle's FOX 5 Facebook page.

  • I-Team Story ArchiveMore>>

  • Get Financially Fit: A Step-By-Step Plan

    Get Financially Fit: A Step-By-Step Plan

    Monday, April 14 2014 9:15 AM EDT2014-04-14 13:15:13 GMT
    April is Financial Literacy Month, so it's time to think about getting financially fit.  Let's start with two questions. Do you know how much you spend each month?  How much of your check should you save?
    April is Financial Literacy Month, so it's time to think about getting financially fit.  Let's start with two questions:  Do you know how much you spend each month?  How much of your check should you save?
  • FOX 5 I-Team

    DON'T MISS: Tax Deductions and Credits

    DON'T MISS: Tax Deductions and Credits

    Friday, April 11 2014 8:48 AM EDT2014-04-11 12:48:55 GMT
    Let's finish up our tax time filing tips that we've offered this season with a quick look at deductions and credits too many folks forget.
    Let's finish up our tax time filing tips that we've offered this season with a quick look at deductions and credits too many folks forget.
  • FOX 5 I-Team

    IRS: Two Scam Warnings

    IRS: Two Scam Warnings

    Monday, April 7 2014 10:44 AM EDT2014-04-07 14:44:51 GMT
    We have two warnings coming from the IRS.  The first one is what investigators call the "largest ever" phone fraud scam targeting taxpayers.
    We have two warnings coming from the IRS.  The first one is what investigators call the "largest ever" phone fraud scam targeting taxpayers.
  • Contact the FOX 5 I-Team

    * denotes required fields

    We're sorry, but only one entry is allowed per person.
    Thank you for your continued interest.

    Thanks for contacting FOX 5.  To reach our newsroom by phone, please call (404) 898-0100.

  • Good Day ArchiveMore>>

  • Recipe: Blissful Lowcountry Boil

    Recipe: Blissful Lowcountry Boil

    Friday, April 18 2014 6:05 PM EDT2014-04-18 22:05:26 GMT
    Blissful Lowcountry Boil Ingredients
    Blissful Lowcountry Boil Ingredients 4qts Water ½ cup Old Bay ½ cup Lemon Juice 1tbsp kosher salt 2 sliced shallots 8 garlic cloves 1lb Andouille sausage 1lb of New Potatoes 6 ears of corn shucked and
  • Pike Nurseries

    Spring Container Gardens

    Spring Container Gardens

    Friday, April 18 2014 10:21 AM EDT2014-04-18 14:21:54 GMT
    Container gardens are just as unique and diverse as gardens.
    Container gardens are just as unique and diverse as gardens.
  • Improve your commute with the "One Bus Away" app

    Improve your commute with the "One Bus Away" app

    Thursday, April 17 2014 9:03 AM EDT2014-04-17 13:03:23 GMT
    Don't you hate when you're waiting for mass transit and have no idea when that train or bus will show up? Now, there's an app for that and it's saving people time and money.
    Don't you hate when you're waiting for mass transit and have no idea when that train or bus will show up? Now, there's an app for that and it's saving people time and money.
  • Local NewsLocal NewsMore>>

  • Skydiver dies after crashing into NJ backyard

    Skydiver dies after crashing into NJ backyard

    Sunday, April 20 2014 10:56 PM EDT2014-04-21 02:56:44 GMT
    New Jersey NewsNew Jersey News
    A 49-year-old sky diver from Brooklyn died after crashing into the backyard of a home in New Jersey. According to officials, Arkady Shenker wore a specialized parachute during the jump. Shenker was known to be an experienced skydiver who had over 300 jumps under his belt.
    A 49-year-old sky diver from Brooklyn died after crashing into the backyard of a home in New Jersey. According to officials, Arkady Shenker wore a specialized parachute during the jump. Shenker was known to be an experienced skydiver who had over 300 jumps under his belt.
  • Boxer Rubin 'Hurricane' Carter dies at 76

    Boxer Rubin 'Hurricane' Carter dies at 76

    New Jersey NewsNew Jersey News
    Rubin "Hurricane" Carter, the boxer whose wrongful murder conviction became an international symbol of racial injustice, has died at 76.
    Rubin "Hurricane" Carter, the boxer whose wrongful murder conviction became an international symbol of racial injustice, has died at 76.
  • 2 children die in overnight NYC fire

    2 children die in overnight NYC fire

    Sunday, April 20 2014 6:57 PM EDT2014-04-20 22:57:33 GMT
    Police say 4-year-old half siblings have died in an overnight fire at a home in New York City, and the twin of one of the children has survived.
    Police say 4-year-old half siblings have died in an overnight fire at a home in New York City, and the twin of one of the children has survived.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices