When a loved one is a resident of a nursing home, we are naturally concerned about their physical and emotional well-being. We are wary and alert to any signs of neglect or abuse. Most of us are not thinking about our loved ones suffering from financial abuse while in a nursing home facility.
Unfortunately, nursing home residents are at an increased risk of fraud. Financial abuse can have catastrophic effects on the victims, who can be financially ruined and emotionally devastated.
It is important to know what to look for. Loved ones need to understand how financial abuse and fraud can happen, who are the most likely abusers, and what actions can help protect loved ones.
Examples of Financial Abuse of Nursing Home Residents
Nursing home staffers, administrators, financial advisors, and family members are often in a position to defraud residents. Some of the ways nursing home financial abuse can happen include:
- Convincing a vulnerable resident to designate the person as their power of attorney.
- Signing documents to give someone else signing privileges on their financial accounts.
- Committing identity theft by taking the resident’s name and information and opening new credit accounts in their name.
- Convincing a vulnerable resident to make another person a beneficiary of their trust, will, or financial accounts.
- Using their debit, credit, or ATM cards without permission.
- Getting access to the resident’s financial accounts and withdrawing funds or paying for things that benefit someone other than the resident.
- Forging the resident’s signature on legal documents.
- Cashing the resident’s checks without their permission and keeping the money.
- Intimidating a resident to give them access to their accounts.
- Billing the resident for services not provided, overbilling them, and collecting funds not earned from their trust or annuity.
- Paying themselves out of the resident’s trust, annuity, or other financial accounts without providing approved, necessary services.
- Double billing for services provided.
- Upcoding is billing for a more costly procedure than was performed for the resident.
- Billing the resident’s managed care plan for services that are not necessary.
- Refusing treatment unless the resident gives them access to their funds.
Perpetrators of Financial Abuse
There are numerous possible parties who could financially abuse a vulnerable nursing home resident. Sadly, their own family members may take advantage and enrich themselves at the expense of a resident.
In addition to family members, financial advisors, accountants, and attorneys are often in a position of trust and may have easy access to a resident’s finances.
When an elderly or otherwise vulnerable person resides in a nursing home or other residential facility, financial abuse may be perpetrated by nursing home administrators, staff, and other caregivers.
What To Do If You Suspect Financial Abuse
If you suspect your loved one is being taken advantage of financially, you should take action. Gather their bank statements and financial records and report your suspicion to the Georgia Department of Human Services, Division of Aging Services.
You should also report your suspicion to the local law enforcement agency. Financial abuse and fraud are crimes that should be investigated and prosecuted.
Finally, contact an experienced nursing home abuse and neglect attorney to understand your options to seek compensation for damages incurred.
Consult a Nursing Home Financial Abuse Attorney
If you are concerned about nursing home financial abuse, we want to help. We have the skills, resources, and experience to investigate your concerns and hold the responsible parties accountable for their actions.
Call (770) 865-8654 or complete the short form on our contact page to schedule a free consultation to discuss your concerns.