Study: Seniors big target for scammers - Los Angeles News | FOX 11 LA KTTV

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>>

  • Patient: Hospice company failed me too

    Patient: Hospice company failed me too

    Wednesday, August 27 2014 10:37 PM EDT2014-08-28 02:37:56 GMT
    The state is now looking into a defunct hospice provider originally investigated by the Fox 5 I-Team.
    The state is now looking into a defunct hospice provider originally investigated by the Fox 5 I-Team.
  • Hidden fees in checking accounts: Who's transparent, who's not

    Hidden fees in checking accounts: Who's transparent, who's not

    Wednesday, August 27 2014 8:10 AM EDT2014-08-27 12:10:06 GMT
    We already know about some of the fees our banks charge -- the monthly fee, the overdraft charge, out-of-network and minimum balance fees. That's standard stuff. But did you know that the average checking account has 30 fees attached?
    We already know about some of the fees our banks charge -- the monthly fee, the overdraft charge, out-of-network and minimum balance fees. That's standard stuff. But did you know that the average checking account has 30 fees attached?
  • Judge mulling sanctions related to ethics trial

    Judge mulling sanctions related to ethics trial

    Monday, August 25 2014 6:29 PM EDT2014-08-25 22:29:27 GMT
    A judge is deciding whether to sanction the Georgia attorney general's office, the state ethics commission and the commission's director for not releasing certain documents in a whistleblower trial.
    A judge is deciding whether to sanction the Georgia attorney general's office, the state ethics commission and the commission's director for not releasing certain documents in a whistleblower trial.
  • 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>>

  • Back to School Jamboree with Hosea Feed The Hungry

    Back to School Jamboree with Hosea Feed The Hungry

    Hosea Feed the Hungry will host their annual Back to School Jamboree on Sunday, July 13, 2014 from 10:00 a.m. until 3:00 p.m. at Turner Field. Children will receive a backpack filled with school supplies.

    Hosea Feed the Hungry will host their annual Back to School Jamboree on Sunday, July 13, 2014 from 10:00 a.m. until 3:00 p.m. at Turner Field. Children will receive a backpack filled with school supplies.

  • Hidden fees in checking accounts: Who's transparent, who's not

    Hidden fees in checking accounts: Who's transparent, who's not

    Wednesday, August 27 2014 8:10 AM EDT2014-08-27 12:10:06 GMT
    We already know about some of the fees our banks charge -- the monthly fee, the overdraft charge, out-of-network and minimum balance fees. That's standard stuff. But did you know that the average checking account has 30 fees attached?
    We already know about some of the fees our banks charge -- the monthly fee, the overdraft charge, out-of-network and minimum balance fees. That's standard stuff. But did you know that the average checking account has 30 fees attached?
  • Casting Call: August 27

    Casting Call: August 27

    Wednesday, August 27 2014 7:50 AM EDT2014-08-27 11:50:59 GMT
    Check out the Good Day Atlanta Casting Call for the week of August 13.
    Check out the Good Day Atlanta Casting Call for the week of August 13.
Powered by WorldNow

KTTV FOX 11
1999 S. Bundy Dr.
Los Angeles CA 90025

Main: (310) 584-2000
News Tips? (310) 584-2025

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices