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Medicare Advantage Plans in Morehead City, NC

At Good Life Financial Advisors of Morehead City, NC, our mission is to help you work toward financial freedom with strategic planning solutions like Medicare Advantage Plans.

Proactive guidance is paramount when working toward financial goals that serve your best interest. And while there are many benefits of Medicare Advantage Plans, knowing exactly what Medicare Advantage Plans entail is essential in deciding whether or not it is right for you. Here’s what you need to know.

What Is a Medicare Advantage Plan?

The purpose of a Medicare Advantage Plan is to provide coverage for healthcare services that Original Medicare doesn’t cover. Selecting the right type of plan largely depends on your lifestyle and current health. These benefits can be as extensive as to include perks like discounted gym memberships, or they can be as basic as simply covering a routine dental cleaning. 

Medicare Advantage Plan Types

There are four main types of Medicare Advantage Plans. Each plan offers the same benefits of Original Medicare along with unique benefits of its own. Here is an overview of the most common plans. 

Health Maintenance Organization (HMO) Plans

The primary purpose of an HMO plan is to focus on overall patient wellness and preventive healthcare. By covering preventative care costs (for example, a gym membership), HMOs can keep premiums lower for their members. Additionally, an HMO plan limits its coverage to in-network physicians and facilities. 

Preferred Provider Organization (PPO) Plans

People often choose PPO plans because they provide more flexibility when choosing a doctor or hospital. While these plans indeed feature a network of providers, there are also fewer restrictions on seeing non-network providers. One of the greatest benefits of a PPO is that they still provide coverage for out-of-network providers, although it may be at a lower rate. 

Private Fee-for-Service (PFFS) Plans

Unlike an HMO or PPO, PFFS plans do not use cost-controlling measures, such as requiring referrals or prior authorization. Instead, these plans work with a predetermined network of providers and pay them a set fee for certain services. Therefore, you must know which medical professionals are in your network before signing up. These are the only medical professionals where your access to non-emergency health care is guaranteed.

The most significant advantage of a PFFS plan is that you won’t need to jump through hoops to access further treatment when you need it; for example, prior authorizations or referrals aren’t required to receive care. 

Special Needs Plans (SNPs)

Medicare SNPs limit their membership to people with specific diseases and healthcare needs. These plans are tailored to meet the needs of the groups they serve. This policy type typically includes services and drug formularies that Original Medicare often excludes. 

Schedule Your Complimentary Discovery Call

We hope you enjoyed learning about the benefits of Medicare Advantage Plans. If you believe you are a good candidate or have questions, our team is here to help! At Good Life Financial Advisors of Morehead City, we believe in empowering our clients with education and resources so that they can feel confident about their financial future.

To learn more about Medicare Advantage Plans, contact us today to schedule a complimentary Discovery Call. This meeting is a no-obligation consultation to discuss your current life circumstances, financial situation, and long-term goals. It is also an opportunity for you to learn more about us and determine whether you feel comfortable moving forward with our team of financial professionals.

If you’re ready to discover the Good Life, contact us today to schedule your free consultation. We hope to help you soon!

The opinions voiced are for general information only and are not intended to provide specific advice or recommendations for any individual.