Medicare Fraud Awareness: August's Focus on Card Scams

### Money Play If consumers are concerned about Medicare fraud, watching the actions of organizations like the New York StateWide Senior Action Council (StateWide) and the Senior Medicare Patrol (SMP) can provide insights into current scam trends. While not a direct investment play, awareness of these issues is crucial for sectors involved in healthcare and elder services.

## Catalyst Analysis: Medicare Card Fraud Highlighted for August The New York StateWide Senior Action Council (StateWide), a non-profit organization with 54 years of service to New York's senior citizens, has designated August's "Fraud of the Month" as Medicare Card Fraud. This initiative is part of the Senior Medicare Patrol (SMP) program, a federal initiative aimed at detecting, preventing, and reporting healthcare fraud, errors, and abuse. StateWide serves as the New York grantee and administrator for this program.

## Technical Analysis & Key Risk Watch

## Impact on Healthcare and Consumer Services This alert underscores the pervasive nature of healthcare fraud, which reportedly costs taxpayers over $60 billion annually nationwide. Scammers employ various tactics, including impersonating Medicare representatives to offer plastic cards or nonexistent benefits in exchange for sensitive information. The StateWide encourages seniors to verify all offers and report suspicious activity to the New York State Senior Medicare Patrol.