When selecting a Medicare plan, it's essential to be aware of potential traps or pitfalls that could affect your coverage and overall healthcare experience. Here are seven common traps to watch out for:

1. Limited Provider Networks: Some Medicare Advantage plans restrict you to a network of healthcare providers. If your preferred doctors or specialists are not in the plan's network, you may face higher out-of-pocket costs or have to switch providers.
   

2. High Out-of-Pocket Costs: While Medicare Advantage plans often offer lower monthly premiums, they may come with higher deductibles, copayments, and coinsurance. Ensure you understand all potential out-of-pocket costs before enrolling in a plan.
   

3. Restricted Drug Formularies: Medicare Part D prescription drug plans may have formularies that limit coverage for certain medications. It's crucial to review the plan's drug list to ensure your prescriptions are covered, or you may face unexpected costs.
   

4. Prior Authorization Requirements: Some Medicare plans require prior authorization for certain services or medications. Delays in obtaining authorization could disrupt your treatment or result in denied coverage, so be aware of any prior authorization requirements.
   

5. Coverage Gaps: Traditional Medicare (Parts A and B) does not cover all healthcare expenses, such as dental, vision, and hearing care. Consider supplemental insurance, such as a Medigap policy, to fill in these coverage gaps and avoid unexpected expenses.
   

6. Plan Changes: Medicare plans can change their coverage, provider networks, and costs from year to year. Stay informed about any changes to your plan during the Annual Enrollment Period (AEP) and consider comparing other options to ensure your current plan still meets your needs.
   

7. Failure to Reevaluate: Healthcare needs can change over time due to health conditions, lifestyle changes, or new medications. It's essential to regularly reevaluate your Medicare coverage with a licensed agent to ensure it continues to meet your needs and budget.
   

By being aware of these traps and carefully reviewing your Medicare plan options, you can make informed decisions to protect your health and finances.