More people aware of medical identity theft but do little to protect themselves from it

Medical identity theft has been a cause of concern for most Americans. As per the Ponemon Institute®’s, Third Annual National Study on Medicare Plans Identity Theft, commissioned by Experian’s Protect MyID®, most of the survey respondents show that they are aware of the person accountable for pilfering their identity. Respondents have even reported of allowing their family members to use their personal identification to access medical services comprising treatment, healthcare products or pharmaceuticals.

About 757 medical identity theft victims were surveyed by this 2012 national study conducted by the Ponemon Institute. The study established that this crime was more widespread than ever before. Data gathered from this new survey shows that the volume of participants who realize the definition of medical identity theft has increased considerably since 2011. In spite of this majority of the victims surveyed did not report the crime to authorities.

The survey results also disclose that an estimated average of 2 million Americans are victims of medical identity theft annually, and the likely total cost of that theft, based on mean value is approximately $41 billion which is a significant increase from that in 2011.

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