Genetic testing kits are all the rage these days—and recent tax news may make it even more affordable
. Taxpayers may now get a tax break for some testing, piquing interest for some taxpayers. Unfortunately, the increased popularity also makes genetic testing kits ripe for scammers.
The U.S. Department of Health and Human Services Office of Inspector General recently issued an alert about a fraud scheme involving genetic testing. The scheme, which tends to target seniors, offers Medicare beneficiaries “free” screenings or cheek swabs for genetic testing in return for Medicare information.
As part of the scam, even though the testing isn’t ordered by a physician or considered medically necessary, Medicare is billed for the test. If Medicare denies the claim, the testing or ordering company still wants to get paid. As a result, the Medicare beneficiary—that might be you—could be on the hook for the entire cost of the test. In some cases, that could be thousands of dollars.
The best way to protect yourself? Your doctor—not a company or a salesperson—should order genetic testing. A good rule of thumb?If the term “medically necessary” sounds familiar, it’s similar to the standard that the Internal Revenue Service uses for medical expenses deductions and inclusion under a Flexible Spending Account or Health Savings Account .
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