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You are viewing ARCHIVED CONTENT released online between 1 April 2010 and 24 August 2018 or content that has been selectively archived and is no longer active. Content in this archive is NOT UPDATED, and links may not function.By Sara Peters
New study shows not only is medical identity fraud costly for individuals, it’s happening a lot more often.
Having steadily grown over the past five years, medical identity theft increased by a whopping 21.7 percent in 2014, according to a new report conducted by the Ponemon Institute on behalf of the Medical Identity Fraud Alliance (MIFA).
Unlike the financial services industry, which has evolved to detect fraud and absorb the costs, the healthcare industry lags far behind, forcing individuals to feel the brunt of the costs. Sixty-five percent of the victim individuals had to pay to resolve the issue — on average, $13,450 per person, including payments to healthcare providers, insurers, identity service providers, and legal counsel.
Read the complete article at: Medical Identity Theft Costs Victims $13,450 Apiece