Having dental insurance is helpful in alleviating surprising dental bills. However, if you do not take full advantage of your services by the end of the year, you may find yourself paying for more of your dental expenses out-of-pocket than you had originally planned.
You Are Paying for Your Premiums
If you are paying insurance premiums, then you should make sure to always schedule regular cleanings in order to take advantage of the money you are spending in premiums. Dental cleanings are considered preventative care and keeping your mouth healthy now will help curve costs that could occur in the future.
The deductible that you pay for your insurance generally starts over at the beginning of each calendar year. Thus, if you have dental work that needs to be done that may exceed your deductible, you will want to have that done by the end of the year. This will prevent you from having to start over with a new deductible in 2010.
Every year there is a certain amount of money that an insurance company will pay for a client’s dental work. It is called the yearly maximum. The amount will vary from plan to plan and it will generally start over each calendar year. Once again, if you are paying your premiums, then you are going to want to get the biggest bang for your buck. If nothing else, clean your teeth and use as much of your yearly maximum as you can.
Flex Spending Accounts and Health Savings Accounts
Use it or lose it. Familiarize yourself with the expiration date of your specific flex account or HSA as the expiration dates will vary, and you do not want to lose the money in the account.