How to Get the Most Out of Your Year-End Dental Benefits
Dental insurance is a benefit offered by many employers as part of your benefits package. If you’re self-employed you may purchase your own. Insurance typically works on a yearly calendar where benefits begin on a certain date and either end or are renewed on a certain date. Features such as deductibles, flex spending accounts, and out of pocket maximums all work on a yearly basis.
Most insurance plans begin in January and end in December. This means that all of the aspects of your insurance plan that are calculated on a yearly basis will reach the year end on December 31. While health savings accounts (HSA) roll over to the next year, most other benefits don’t. If you want to take full advantage of your dental insurance benefits, here are some things to consider.
Confirm Your Plan Renewal Date
If you want to get the most out of your dental benefits, the best place to start is to find out exactly when your plan ends and renews. Most plans follow the typical calendar year, meaning they end on December 31 and renew January 1. However, some insurance plans operate on a different schedule, so be sure to check with your insurance provider to determine the final date of the current plan year.
Get to Know Your Benefits
Your insurance provider should have provided you with a benefits guide that fully explains every aspect of your plan. You may have received an actual paper copy, a digital copy, or a link to a benefits guide online. Review this guide to get a complete understanding of your dental benefits so that you can take full advantage of them.
Check on Your Yearly Deductible
Most dental insurance plans have a yearly deductible that must be met before insurance begins paying for services. Find out the amount of your yearly deductible and how much of the deductible has been met. You can get this information by contacting your insurance provider, accessing your account online, or reviewing your most recent explanation of benefits you may have received in the mail. If you’ve already met your deductible for the year, any additional dental services you receive may be fully covered.
Find Out Your Annual Maximum
The annual maximum is the total amount your insurance plan will pay toward dental services for the year. Find out what this number is and how much your provider has paid toward this amount. If you need a dental procedure, it may be a good idea to get it done now if you still have a sufficient amount of your annual maximum left. If not, you may want to wait until the new year when your plan renews.
Use Your Flex Spending Account
If your plan includes a flex spending account (FSA), the funds will most likely not roll over to the next year. Whatever you don’t use before the end of the calendar year will be lost. Flex spending accounts, as their name suggests, are somewhat flexible about what you can use the funds for. FSA funds can be used for a variety of dental services, even elective procedures in many cases. You may be able to purchase dental products such as denture cleaners and adhesives and toothache relievers with your FSA account.
Take Full Advantage of Your Benefits
If your plan covers dental cleanings, be sure to use that benefit each year. Most plans include two cleanings per year, 6 months apart. In most cases these appointments are fully covered with no out of pocket expenses. Now may be the best time to get other dental services such as fillings, root canals, or crowns when you can make the most of your dental insurance coverage.
Use Your Benefits to the Fullest With the Ricco Dental Group
You most likely pay a premium each month that comes out of your paycheck toward dental insurance. If you don’t use the benefits, those funds have gone to waste. The Ricco Dental Group can help you take full advantage of your dental benefits. If you’re due for a dental cleaning and exam, schedule now as appointments are filling up fast. Don’t let your dental insurance benefits go unused this year.
Call 516-931-3999 or contact us today to schedule an appointment.