Financial exploitation is just a single example of nursing home abuse that happens to elderly individuals. According to the CFPB (Consumer Financial Protection Bureau), this problem is one that is seriously concerning. Consider the statistics about this type of nursing home abuse.
Up to five percent of all Americans over the age of 60 experience some type of financial exploitation every year.
Almost $3 billion was exploited from seniors in the U.S. in 2010.
The Medicare and Medicate systems are being overburdened by cases of financial exploitation with almost one in ten victims of it having to be forced to rely on these programs after they lose their own financial security and stability.
New programs to end financial exploitation were introduced in 2011, but they were only effective in stopping one out of every 44 incidents.
The individuals who are close to the elderly person, such as friends, family members, neighbors, pastors, nurses, doctors and caregivers are most likely to perpetrate the issues of financial exploitation against seniors.
Common Examples of Financial Exploitation and Nursing Home Abuse
Financial abuse is often under-reported. This may be because those who suffer through this type of abuse are not always aware that they are being taken advantage of or cannot express their disapproval in a meaningful way.
In fact, one source reports that there are over 500,000 elderly people who are victims of financial scams every year.
In Florida, specific laws govern how patients should be treated while they stay in nursing homes. Florida law establishes very basic patient rights and implements standards that all nursing homes must follow.
These laws are meant to protect those in nursing homes who may not be able to assert their own rights. If a nursing home fails to adhere toRead More
It’s always difficult when families are required to put an elderly loved one into a nursing home. Not only is the decision itself difficult, but finding the right nursing home is also difficult. There are many features that homes have to offer, but the most important feature is finding a home that takes care of their patients thoroughly.
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