Your medical card is a million-dollar credit card.

We have all heard so much about identity theft and what a nightmare scenario can result. Besides credit issues, countless hours are consumed trying to correct the damage. Those hours eat into work time as well as personal time. In addition, there is worry about the resultant damage.

You know that if you lose your wallet you should immediately notify credit card companies. If your medical ID is also in your lost wallet, be sure to contact the insurer right away.

Here are some of the problems that could result from loss of your medical information:

1. The insurance company pays out more in bogus claims, leading to higher premiums.

2. You end up with someone else’s health information on your records, causing potentially dangerous errors in the future.

3. If someone had a procedure under your name, you are denied the same treatment when you need it.

4. With a lifetime cap on benefits, you find that you have reached it and can no longer receive covered medical care.

Victims of financial theft can put an alert or freeze on their credit bureau reports. To protect yourself from medical theft, you would want to keep track of your benefits. Companies like Aetna allow you to do this online. However some victims of medical identity may not have access to their health files. If you are one who cannot see your records, visit the World Privacy Forum’s website to find out how to change that.

Good health is a key to productivity. Getting the right treatment is a requirement for good health. Do not be a victim. Take steps now, as part of your year’s planning, to monitor your health benefits.