FRANKLIN LAKES, N.J., April 20 /PRNewswire-FirstCall/ -- Enrollment for Medicare prescription drug discount cards is just around the corner, and soon millions of Medicare beneficiaries will be sifting through tons of information from the 28 discount card sponsors that are approved by Medicare. Unfortunately, with so many cards and so much information, Medicare beneficiaries may find themselves unknowingly and unwillingly at risk for Medicare fraud activity.
"Older people have caught the attention of professional con-artists who fleece the elderly for a living. Those who are armed with the right information about the new Medicare discount card program can avoid being taken for a ride by unscrupulous individuals looking to prey on those who can least afford it," said Tom Cassidy, a former senior investigator for the New York State Attorney General's Medicaid Fraud Control Unit and the author of "Elder Care/What To Look For/What To Look Out For!"
Continued Cassidy, "As the enrollment period starts for the program, Medicare beneficiaries should take their time and carefully review the information provided by trustworthy companies and organizations that are authorized to participate in the Medicare discount card program. Those who do their research can often sniff out the bad seeds and avoid the menace of elder fraud."
According to a recent report from the U.S. General Accounting Office (GAO), over the past two years the number of organizations selling fraudulent healthcare benefits has doubled, and more than 200,000 people have fallen victim to healthcare fraud. Early signs of fraudulent Medicare prescription discount card activity have already begun to surface.
Many healthcare scams, including Medicare discount drug card fraud, involve phone solicitations or door-to-door salesman looking to register beneficiaries. Often times, solicitors offer to enroll targets in the program by requesting their bank information, social security number or credit card number; in some cases, the caller may already have some of the individual's private health information, which lends an air of credibility to the call. Ultimately, personal information can be used in fraudulent schemes to file false Medicare claims.
The Centers for Medicare and Medicaid Services (CMS) announced in March that only 28 organizations, including pharmacy benefit manager Medco Health Solutions , and 43 Medicare Advantage plans have been selected to offer prescription drug discount cards to the approximately 40 million Medicare beneficiaries nationwide. Cassidy says that older consumers, and those who help them, can easily identify which cards are legitimate and which are fraudulent using a few simple tips:
-- Look for the Logo: All legitimate Medicare-approved cards, such as Medco's Preferred Prescription Discount Drug Card, carry a "Medicare Approved" logo in the lower right corner. Consumers should look for the logo and not accept any card without it. To see the logo, or to check if an organization offering a discount card is Medicare- approved, consumers can visit the Medicare Web site at http://www.medicare.gov/, or call 1-800-MEDICARE. -- "Endorsed" is not Approved: Official cards in the Medicare program are only referred to as Medicare-approved. Be suspicious of providers that claim they are Medicare-endorsed, Medicare-produced or Medicare- provided. -- Hang up on Fraud and Keep the Door Closed: Many Medicare-approved cards will allow you to enroll over the phone or on the Internet. However, Medicare-approved plans should never call you unless you have called them first, and they should never visit your home. Consumers should not provide any personal or financial information to anyone who has made an unsolicited call or has come to their door. If a consumer is called or visited by an organization claiming to be Medicare- approved, he/she should report the incident immediately to local law enforcement. One way to reduce the possibility of being a victim of a telemarketing fraud is to have your phone number placed on the "do- not-call" registry at the Federal Trade Commission (FTC) by calling 1- 888-382-1222. -- Hide from High Pressure: Never let anyone pressure or scare you into making a quick decision. High-pressure tactics will never be used by those offering real Medicare-approved discount drug cards. -- Isolation can lead to exploitation: Elderly men and woman who live alone are often the targets of fraud schemes. It is important to keep in touch with elderly relatives and friends and help them take steps to avoid the risk of elder fraud and abuse. About Thomas M. Cassidy
Thomas M. Cassidy, author of "Elder Care/What to Look For/What to Look Out For!," is an expert on fraud and abuse directed at the nation's senior population. Cassidy frequently speaks on a wide range of elder care issues and was a guest speaker at the Third International Conference on Gerontechnology in Munich, Germany and "The Long-Term Care Crisis" conference in Westchester, NY. His current research projects include the Medicare Prescription Drug Act, covering the gaps in Medicare, and issues associated with identity theft. Cassidy served almost 20 years as a senior investigator for the New York State Attorney General's Medicaid Fraud Control Unit. Cassidy is working with Medco to educate seniors about Medicare discount card fraud.
In addition to "Elder Care/What to Look For/What to Look Out For!," the third edition of which will be released in May by New Horizon Press, Cassidy has also co-authored a college level textbook on a multi-disciplinary approach to aging with Dr. Lynn M. Tepper, of Columbia University, which is expected to be released by Springer Publications in October 2004. He has a B.A. in history and an M.A. in economic policy analysis, both from the State University of New York at Stony Brook.
About Medco
Medco Health Solutions, Inc., a leading pharmacy benefit manager with the nation's largest mail order pharmacy operations, assists its customers to moderate the cost and enhance the quality of prescription drug benefits provided to members nationwide. Its customers include private- and public- sector employers and healthcare organizations. Medco is traded on the New York Stock Exchange under the symbol MHS. On the Net: http://www.medco.com/.
This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties which may cause results to differ materially from those set forth in the statements. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. We undertake no obligation to publicly update any forward- looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this presentation should be evaluated together with the risks and uncertainties that affect our business, particularly those mentioned in the Risk Factors section of the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission.
Medco Health Solutions, Inc.CONTACT: Jennifer Leone of Medco Health Solutions, +1-201-269-6402,jennifer_leone@medco.com; or Kevin Lamb or Amanda Naiman of Coyne PublicRelations, +1-973-316-1665, for Medco Health Solutions
Web site: http://www.medcohealth.com/
