Sunday, April 25, 2010

ObamaCare Opportunities Abound

From The Pirate's Cove:

Old Hotness: Nigerian Lottery Scams. New Hotness: ObamaCare Scams

It’s simply amazing that a piece of legislation that was unread by the people who voted for it, and is over 2,400 pages, should cause confusion. I mean, seriously, “What good is reading the bill if it’s a thousand pages and you don’t have two days and two lawyers to find out what it means after you read the bill?” States Warn Of Obamacare scams

In Illinois, a telemarketer recently sold an elderly woman a fraudulent health insurance plan that supposedly protected her against “death panels,” the state insurance director says.

In Alabama, a con artist has been offering “government health care reform” insurance over the phone in exchange for customers’ bank account numbers, according to the local Better Business Bureau.

And in Kansas, law enforcement authorities are investigating reports of people identifying themselves as government employees and taking payments for “Obamacare” insurance.

Con artists in several states are seizing on the public’s financial struggles and confusion about the recent health care overhaul, the authorities say. So far, the frauds appear to be relatively infrequent and are often no more sophisticated than spam fax messages with blatant misspellings and no company letterhead.
The cons may be unsophisticated, but as someone who has worked in the financial industry for over twenty-five years, trust me, tons of people will fall for them. Health care scams target the elderly, who were thrown under the bus by ObamaCare and are afraid they will lose their coverage because of Medicare cuts, and the poor who have little experience understanding heath care policies. ObamaCare has created a free market for con artists, complete with built-in victims.  I doubt this is the "change" that most people voted for.

Read the rest of the post.

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