Protect Yourself: 5 Common Medicare Scams During Open Enrollment

Medicare open enrollment runs every year from October 15 to December 7. Unfortunately, this is a prime time for scammers looking to target those who may be interested in switching their health insurance.

Whether you're satisfied with your current Medicare coverage or considering making a change to secure the insurance coverage you need, you don't want to fall victim to these predators’ tricks. Doing so could end up being one of your most costly retirement mistakes.

The good news is, avoiding scams is easy if you know what to look for. In particular, there are five common tricks fraudsters often use to trip you up. Here's what they are.

1. Fake Medicare advisor phone calls

Fake phone calls are designed to get your personal information, credit card number, or other financial information in exchange for phony products or unsolicited (and often inaccurate) advice. Often, the so-called advisor will pressure you to act quickly.

To make sure you don't fall victim to this scam, avoid giving out any personal or payment information over the phone. Medicare advisors or plan representatives will never call you (unless you're already enrolled), and they won't ask for payment over the phone under any circumstances.

If you get a phone call and you aren't sure whether it's legit, tell the person you'll call back and hang up — then call 1-800-MEDICARE or the number from your card or plan documents, if you have a Medicare Advantage plan. This can help you ensure you're talking to a legitimate Medicare representative.