Cape Girardeau insurance broker advises eligible seniors to be cautious when applying for Medicare

Medicare's annual enrollment period, also known as "open enrollment," ends Dec. 7 and Charley Tinsley, owner/manager of TIG Thomas Insurance Group of Cape Girardeau, has some advice for new Medicare seekers.

"The big thing about open enrollment is people are going to get bombarded with mailers, with phone calls, with commercials, with door-to-door solicitation and people should be very cautious," said Tinsley, who has owned TIG since 2012.

"We hear it every day. 'I didn't agree to buy this plan,' 'I shouldn't have given them this information, now I've got this in the mail.' Don't give your Medicare number or your checking information or your Social Security information to anyone unless you're 100% sure you're going to do business with them," Tinsley said. "A company may tell you they're doing a 'fact finder,' and the next thing you know you may get a welcome packet showing you've been enrolled into a plan. Yesterday, we had a prime example. We had a gentleman in here who said, 'I did not agree to this and now I've got this card.' He had to call and get it canceled."

Finances

Medicare's trustees reported this summer the federal health program designed primarily for those aged 65 and older is relatively stable financially compared to Social Security.

"At the moment, I would say that is true," Tinsley said.

"There are more people going on Medicare today than ever in history (and) it is putting a strain on the system but every time you wonder if the program will survive, the government finds funding and keeps it going."

The projected depletion date for Medicare's trust fund -- 2026 -- for inpatient care remains unchanged from a year ago.

History

On July 30, 1965, President Lyndon B. Johnson signed into law the bill leading to Medicare and Medicaid.

The original Medicare program included Part A (Hospital Insurance) and Part B (Medical Insurance).

Together these two parts are called "Original Medicare."

Medicare Part C, called Medicare "Advantage," and Medicare Part D, the prescription drug benefit, are later additions.