Fraudsters ramp it up
Regardless of what has happened to the American economy in general, entrepreneurs in at least one industry can always be relied upon to deliver innovation. Outliers is of course referring to crooks and thievery.
Take health insurance fraud. This is the age-old trick in which a conman persuades the sucker to buy a piece of paper on which a “policy” is printed that would guarantee “health insurance” should the victim ever get sick, when, in fact, the paper is no more valuable than that “deed” to the Brooklyn Bridge that Outliers bought last year.
In recent years scammers have taken to getting not just cash or checks for scam insurance policies, but credit card information, so that the mark can supply regular fraudulent payments through the efficient identity-theft system that has been set up by banks and debit card companies.
And now behold the scammers’ latest financial product: ObamaCare, in which thieves prey on people who believe that the health reform act includes a mandate to buy an insurance plan named after the president.
“ObamaCare scams began surfacing almost as soon as the ink was dry on the health reform law,” says Jim Quiggle, spokesman for the Coalition Against Insurance Fraud. “Crooks thrive on confusion, and growing numbers of swindlers are peddling seemingly fake coverage under the guise that it’s required by healthcare reform.”
Data from the National Association of Insurance Commissioners show that the number of verified complaints of cases of this kind of fraud appears to be on the rise in 2010.