A Case of “Use It or Lose It!”
Many consumers with dental insurance don’t realize that their plans provide a certain amount of coverage annually. If you don’t use that money, it can’t be carried over to next year and is lost to you forever. Don’t forgo the necessary or preventive dental care when you have already paid for the dental insurance to have it done.
Dental insurance companies count on making millions of dollars off of patients who never use their insurance benefits because, unbeknownst to the consumer, many of these plans provide coverage up to a certain dollar amount annually. Many dental insurance plans are just sitting there with benefits unused and go to waste as soon as the clock strikes midnight December 31.
In addition, now is the time to get your dental treatment before your deductible resets. Your deductible also starts again January 1. Many dental insurances provide little to no coverage until you spend a certain amount out of your own pocket – your annual deductible. If you’ve used your insurance at all this year, you’ve probably made some progress towards meeting that deductible. In fact, you may have already met it completely.
Another good reason to take care of dental work now is to spend any remaining balance in your flexible spending account (FSA). This is an account that you establish through your employer, and that you may have elected to have some of your pre-tax pay put into. If you don’t use all of your FSA contributions by the end of the year, you lose them.
So, before the holiday season starts to fill up your calendar give us a call at Broad Street Smiles and we can help you figure out how much money is left in your dental plan and help you make the most of your benefits!