Plan Now to Use Your Benefits Before You Lose Them!

As the year rapidly draws to a close, it's astonishing how swiftly the final months seem to sprint by. Amidst the bustling holiday preparations, it's easy to overlook some crucial health and financial benefits that could offer substantial savings. It's perfectly natural to feel overwhelmed or uncertain about how best to utilize these benefits. Yet, acting now can prevent losing out on valuable coverage that resets annually. Let's turn the complexity into simplicity by breaking down some key steps you can take today.

Book Dental or Vision Appointments

Have you tapped into your dental or vision insurance benefits for the year? If not, now is a fantastic opportunity to do so. Contact your provider to book an appointment and, if they’re fully booked, inquire about being added to a cancellation list. This ensures that any remaining benefits don't go to waste.

Use Your Flexible Spending Account Funds

Remember, Flexible Spending Accounts (FSAs) operate under a "use it or lose it" rule. Spend down your FSA balances on eligible expenses before December 31st, unless your plan offers a rollover or grace period. Eligible expenses might include medical supplies, dependent care, or even eyeglasses.

Max Out Health Savings Account Contributions

Take advantage of your Health Savings Account (HSA) by maximizing your contributions before year-end. Not only can this fund future medical expenses, but it also provides a triple tax advantage—tax-free contributions, growth, and withdrawals for medical expenses. This is incentive enough to reassess your current contributions.

Check Your Deductible Status

Have you met your health insurance deductible yet? If so, now might be the optimal time to schedule those check-ups or procedures before the deductible resets. This way, you can make the most of your coverage, avoiding additional costs in the new year.

Refill Prescriptions

If your deductible or out-of-pocket maximum has been met, consider refilling any recurring prescriptions now. Not only does this secure the medications you need, but it also capitalizes on your coverage before any possible resets or changes.

Contact Your Plan Administrator or Benefits Advisor

If any part of these processes seems daunting, remember: help is just a phone call away. Reaching out to your plan administrator or a benefits advisor can provide clarity and assurance you’re making the best choices for your circumstances.

A few small steps taken now can lead to significant savings and peace of mind. The key is to act before December 31st. Don’t leave money on the table—seize control of your benefits and secure the savings that are rightfully yours. Take a moment today to check your current benefit status or contact a professional if you need guidance. Your future self will thank you!