QUALITY IMPROVEMENT
Q&A With Sen. Collins: Making Senior Safety a Priority
of the Senate Committee on Aging. The Senior Safe Act, a bipartisan bill au-
F
thored by Sens. Collins and McCaskill, was signed into law in May, aiming to protect American seniors from fi nancial exploitation and fraud. Here, you’ll read a Q&A with Collins on making senior safety a top priority.
What was the impetus for sponsoring the Senior Safe Act, and why was its enactment so important? “One of my top priorities as chair of the Sen- ate Aging Committee is to aggressively fi ght fraud and fi nancial schemes targeting seniors. “Regrettably, various state and federal
laws can inadvertently impede efforts to protect seniors because fi nancial institutions that report suspected fraud can be exposed to lawsuits. The Senior Safe Act is based on a successful and innovative program in Maine that encourages banks, credit unions, investment advisors, broker-dealers, insur- ance companies, and insurance agencies to report suspected fraud, and it protects these institutions from being sued for making reports in good faith to proper authorities. This new law will help prevent Americans from falling victim to criminals who seek to rob them of their hard-earned savings.”
Are you hearing much from seniors about fi nancial abuse and scams? “Unfortunately, far too many older Amer- icans are being financially exploited by strangers over the telephone, through the mail, and increasingly, online. Worse yet, we hear from seniors who are also targeted by family members whom they trusted. Often, these crimes aren’t reported, how-
irst elected in 1996, Sen. Susan Collins is the most senior Republican woman serving in the U.S. Senate, and is chair
ever, because the victims are afraid that the perpetrator may retaliate, or they are em- barrassed, or perhaps they just don’t know who to tell. That is why our Committee established a toll-free fraud hotline [1-855- 303-9470] to serve as a resource for seniors and others affected by scams. Last year, investigators who staff the hotline assisted more than 1,400 individuals from all across the country. “I am encouraged that the U.S. Depart-
ment of Justice, at my urging, has made fi ghting senior fraud a major priority as well. Earlier this year, they announced that more than 250 defendants were charged with scamming more than 1 million Americans in excess of a half a billion dollars. The action sends a clear message to criminals seeking to defraud seniors that they will be caught and they will be punished.”
What are some simple steps leadership at senior living communities can take to combat instances of elder abuse? “Education is the key to combating fraud against older Americans. In fact, fraudsters often use similar tactics to try to con people out of their money. Each year, our Com- mittee releases an updated “Fraud Book,” which features the top 10 scams reported to our hotline and includes tips and resources for consumers who wish to report scams to state and federal agencies. Anyone wishing to receive a copy should contact the hotline. “In addition, many organizations, includ- ing AARP, partner with local law enforce- ment agencies to off er presentations to help raise awareness of fraud and scams. I would encourage leadership at senior living com- munities to schedule such a presentation. After all, an educated and alert population will provide us the best defense against con
Change Agent Profi le
Senator Susan Collins of Maine Chair, Senate Select Committee on Aging
artists, and every person who learns of these scams is one less person who may fall victim.”
What are other priorities for the Senate Special Committee on Aging? “In addition to consumer protection and fraud prevention, I have made retirement security and biomedical research on dis- eases such as Alzheimer’s and diabetes top priorities of the Senate Aging Committee. “Also, I am particularly concerned with
the rising costs of prescription drugs, which could put cures and treatments out of reach for so many Americans. Nearly 60 percent of Americans, including roughly 90 percent of seniors, take at least one prescription drug. It’s estimated that Americans spend as much as $340 billion on prescription drugs each year, including a staggering $45 billion out- of-pocket. The federal government picks up about $129 billion through Medicare, Med- icaid, Veterans Aff airs, and other programs. One out of fi ve Americans do not fi ll a pre- scription because they are unable to aff ord it. “With prescription drugs among the
greatest factors driving up the cost of health care, it is essential that we better understand the underlying causes of soaring prices so that we can develop and implement pol- icies that both encourage innovation and protect consumers.”
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