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House Co-Sponsorship Memoranda
House of Representatives
Session of 2017 - 2018
Regular Session
MEMORANDUM
| Posted: | September 25, 2018 10:08 AM |
|---|---|
| From: | Representative Maureen E. Madden |
| To: | All House members |
| Subject: | Co-Sponsorship: Long-term Care Consumer Financial Protection Act |
| Financial exploitation is a fast-growing form of abuse of seniors and adults with disabilities accounting for nearly one-third of abuse reports in Pennsylvania. Disturbingly, a growing number of these scams involve caretakers taking advantage of those under their care. I am introducing legislation that prohibits an employee of a long-term care provider from serving as a guardian, an agent under a power of attorney, a beneficiary of an insurance policy, or as the executor of the estate of an individual under his care. This legislation is aimed at preventing caretakers, who by the nature of their position gain the trust of those under their care, from taking advantage of that trust for personal financial gain. The AARP estimates that older adults lose about $3 billion each year as a result of financial exploitation and abuse. I believe we must do what we can to ensure that vulnerable individuals in long-term care settings do not fall prey to persons who have the opportunity to exploit them. Financial exploitation is the fastest growing type of elder abuse, and as our elderly population continues to grow, it is essential that we address this issue and take the steps necessary to prevent future exploitation. Please join me and protect seniors and adults with disabilities by co-sponsoring this important piece of legislation. |
Introduced as HB2722