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Medicare Card Changes

Dear Valued Client,

If you are a Medicare beneficiary, or if you know someone who is, you should have seen a change on your Medicare card that started in April.  New cards will not contain Social Security numbers.

Instead, new cards will display a unique, randomly-assigned number called a Medicare Beneficiary Identifier, or MBI.  The reason for the change is to protect seniors from fraud and identity theft.  For years, the prospect of losing your Medicare card was enough to make anyone shiver – because it contains information that can affect your finances. Now, the new cards should make it much easier to keep your identity safe while still enabling you to check your eligibility and claim status.

A few things to know about this change:

  • You do not need to take any action. The Center for Medicare Services (CMS) will send you a new card automatically.
  • The new cards do not affect your Medicare benefits in any way.
  • Make sure you destroy your old card so that it doesn’t fall into the wrong hands.
  • Be wary of thieves trying to take advantage of this change.  Specifically, watch out for anyone who calls asking for your personal data or requesting payment so they can send you a new card.

If you would like more info on this change, visit https://www.cms.gov/Medicare/New-Medicare-Card/.

Protecting your identity is a crucial part of working toward your financial goals.  Keep an eye out for your new Medicare card, and be sure to destroy your old one when it arrives! Let me know if you have any questions or if there is anything I can do for you.

Sincerely,
David M. Gallagher
Wealth Manager