March is Fraud Awareness Month, and this is a seen as a perfect time for business insurance companies to highlight fraud prevention in the market for health insurance in Canada. Medavie Blue Cross of Moncton is working with the Competition Bureau of Canada to educate the public on the dangers of health insurance fraud.
They are trying to get across the message that it is not a victimless crime, because it impacts every one who purchases health insurance and utilizes medical services. Every fraud that is committed adds up to an estimated $5 billion to $15 billion loss annually, which represents the cost of approximately 20,000 new doctors or 5,000 MRI machines. Fraud can result in higher premiums and fewer benefits, and the money lost is not going towards improving the quality of health care.