A report released by the National Association of Dental Plans states that just 2.8% of individuals having PPO dental plans exceeded or reached their plans for the annual maximum. A good number of individuals also have unused balances in their HSA (Health Savings Accounts). People get extremely busy, especially during the holidays. As such, it can be quite easy to neglect or forget to schedule your routine dental check-ups. So, whether you are looking for dental implants in Los Angeles or a simple oral care treatment, make sure you do it before the year ends. That is because, after the new year, you risk losing your dental benefits.
Reasons to Take Advantage of Your Dental Care Benefits Before the Year Ends
The following are some of the reasons why you need to use your dental benefits before the year ends.
You Have Reached Your Annual Deductible
An insurance deductible is the amount of money one pays out of pocket before their insurance pays for any of their dental care. It is worth noting that an insurance deductible ranges greatly from one insurance company to another. You should also note that this deductible may be higher if, for some reason, you prefer seeing a dentist who is not included in your plan’s network. When the year begins and your plan rolls over, you will have to start paying toward a new deductible before you are able to take advantage of your dental care benefits.
Your Current Insurance Plan Could Change After the New Year
It is not uncommon for changes in healthcare plans to occur after the new year. And one of the reasons that can lead to these changes is when you or your employer makes a change in dental insurance carriers. Well, when these changes happen, your dental benefits for the new year may fail to be as good as they are at the moment.
You Are Yet to Reach Your Insurance Maximum for the Year
You already know that your dental offers a maximum dollar amount, which you can spend towards your yearly dental care. If you are yet to meet your annual maximum and suspect or know that you may require extra dental work, then you can go ahead and take care of some of it before the new year starts. After that, you can start with a new maximum after the new year. The max amount varies, depending on dental plans. It also typically resets every Dec. 31. This means any unused benefits, which you can apply to your dental care work, will be forfeited.
You Are Likely to Lose Your Existing FSA Contributions
People establish FSA (Flexible Savings Account) through their employers so some of their pre-tax pay can be put into it. That being said, your FSA can have a remaining balance that you can channel toward your dental care. Well,