Financial literacy is not just about saving dollars and cents.
Experts say it also includes protecting your savings and investments.
This is Money Smart Week, and at events throughout the state, Hoosiers can learn more about how to manage their personal finances.
Nancy Stone, program director with Indiana Senior Medicare Patrol, says discussions will include the growing problem of senior financial abuse.
“It’s just become really prolific that they target elderly because they know most people have a nest egg by the time they’re 65-plus and they’re also considered a vulnerable population,” she says.
Nearly 100 financial literacy events will be held over the next week in Indiana, led by community groups, educational organizations and financial experts.
Stone says there have been an increasing number of scams involving Medicare, and include phone and mail solicitations.
“They often pose themselves as Medicare reps, saying they need to update your information, and so forth,” she says. “But Medicare will never call you unsolicited. And, really, your Medicare card, you need to guard your card because it has your Social Security number on it.”
Some cases of Medicare fraud involve double billing, so she says be sure to review your service statements.
And if you have questions, call providers, or the Indiana Senior Medicare Patrol, to sort it all out. That number is 800-986-3505.