Skip to main content
Blogidentity theftmedical costs

The Fastest Growing Crime Just Got Worse

By June 6, 2016February 7th, 2024No Comments

President Obama has called identity theft the fastest growing crime in America. Most Americans recognize the dangers of financial information being compromised. Many are not aware of a greater threat: their medical records falling into the wrong hands.

According to the latest study by the Medical Identity Theft Alliance, 2.32 million Americans have been victims of medical identity theft. What makes this so troubling is hospitals typically have low security, and healthcare records often include permanently identifiable information like Social Security numbers and dates of birth. Consequently, they are much more lucrative than credit card numbers on the black market.

Sadly, victims of medical identity theft have considerably fewer protections than individuals whose credit cards have been stolen. Sixty-five percent of the victims surveyed reported paying an average of $13,500 to resolve the crime. Thirty-one percent lost their health insurance, and a fifth saw decreased credit scores.

Once a thief has your personal information, they can get medical care, submit claims, buy prescription drugs and even purchase expensive medical equipment to resell. If that wasn’t bad enough, your health can be jeopardized if a thief’s medical history is entwined with yours. You may be unable to examine your records because of the thief’s health data, which is protected by medical privacy laws. False claims can lead to being turned down for life, disability or long-term care insurance.

Take steps to safeguard your information. Verify a clinic’s email exchange is secure before emailing new patient forms. Remove and shred labels from prescriptions before discarding containers. Keep papers from clinics and insurance companies in a safe place. Avoid giving out your complete Social Security number. Always review Explanations of Benefits for discrepancies. (This becomes even more important if you’re on Medicare since claims require a Social Security number.) Check credit reports for unpaid medical bills, and ask to see your medical records.

Protecting your personal information is important to us. For more information on obtaining and monitoring your accounts and credit history and for tips on protecting your identity, please give Jordan Dechtman, Denver wealth manager a call at 303-741-9772, email him at to schedule an appointment.

Important Disclosure Information

Please remember that past performance may not be indicative of future results.  Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Dechtman Wealth Management, LLC [“DWM”]), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.  Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions.  Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from DWM. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. DWM is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the DWM’s current written disclosure Brochure discussing our advisory services and fees is available for review upon request or at

Please Note: DWM does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to DWM’s web site or blog or incorporated herein, and takes no responsibility for any such content. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.

Please Remember: If you are a DWM client, please contact DWM, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services.  Unless, and until, you notify us, in writing, to the contrary, we shall continue to provide services as we do currently.

Please Also Remember to advise us if you have not been receiving account statements (at least quarterly) from the account custodian.

Join our newsletter

"*" indicates required fields

This field is for validation purposes and should be left unchanged.