You can’t take them with you
At the end of the year, it’s easy to get caught up in the mad dash of the holidays and end-of-the-year chaos. Understandably, your expiring healthcare and dental plan benefits might not be at the forefront of your mind. But that’s why we’re here. We’re going to make sure you use those benefits before they expire with some priceless end-of-year tips.
MAKE THE MOST OF YOUR DEDUCTIBLES.
Have you met your annual deductible? Or are you close to it? Now would be an excellent time to schedule any medical treatment you’ve been putting off because your deductible will reset on January 1.
USE YOUR ANNUAL DENTAL MAXIMUMS.
Once you reach your annual maximum on your dental plan, you’ll have to pay for any further dental treatments out of pocket. So, if you need fillings, root canals, or crowns and you have available funds in your plan, get them taken care of before the plan resets for the New Year.
USE ALL YOUR FSA MONEY.
On average, people forfeit about $120 each year in their flexible spending accounts. Don’t be one of them. Now’s the time to check the balance in your FSA and then spend all your money before year’s end.
FSA spending ideas :
- Eye exams
- Contact lens disinfectant solution and saline
- Annual physical (the exam may be covered, but bloodwork and additional tests may not be)
- Co-payments for doctor visits
- Dental work (non-cosmetic)
- Orthodontic work
- Prescription refills
BE AWARE OF PLAN CHANGES.
Next year’s benefits may not be the same as the ones you have now. Be sure to review your benefits packet and see if any of your benefits are changing in 2020. It pays to be proactive and use all the healthcare and dental benefits currently available to you.