Fraud prevention tips: Lessons from health benefits scandals

Asset Allocation Plan

Fraud prevention tips: Lessons from health benefits scandals

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Health benefits fraud is in the news again. Here’s why you should care about benefits scams, and what you can do to protect your coverage.

Reports of sophisticated schemes to swindle huge sums of money through false benefits claims have been in the headlines lately. These news stories illustrate how group health benefits scams can affect everyone who has a benefits plan, says Shelley Frohlich, Director of Fraud Risk Management at Sun Life Financial.

“Often employees believe that it’s the insurance company’s money funding their plan. They don’t realize that it’s their employer’s money or their own,” says Frohlich.

While most people don’t participate in elaborate fraud schemes, some plan members don’t think twice about claiming a pair of non-medical designer glasses, because they believe that falsifying claims is a ”victimless crime” or that they won’t get caught. But there IS a victim – false claims drive up premiums for plan sponsors and could put your benefits or even your employment at risk.

CLICK HERE to read this full article from SUNLIFE.