Be Smart with Your Money

It is hard to believe the end of the year is already closing in on us. We know there are a million things that are competing for your time and attention so we want to make sure you are not throwing away any money as 2017 starts up.

Flex Accounts

First there are Flexible Spending Accounts. These are accounts setup through your employer that allows you to pay for medical expenses pre-tax. This is a great way to save money, however it comes with one big caveat. If by the end of the year you haven’t spent the money you set aside it goes to waste. When the end of the year rolls around check your current flex account balance so you can make use of it wisely. Keep in mind night guards, electric toothbrushes and sleep apnea devices all qualify for Flex Account spending.

Dental Insurance Annual Maximum

The next one to consider is dental insurance annual maximums. You have an annual maximum benefit to use every year and each year any remaining benefit is reset and cannot be used. This is very different than medical insurance where you typically have a maximum you will spend per year. With dental insurance as soon as your benefits are used up your insurance stops providing any benefit and you pay for 100% of the costs. If you have benefits remaining at the end of the year and have treatment planned it is often wise to use those benefits in the current year. This way if any unexpected dental treatment comes up next year you will have your full benefits to help you out.

If you would like to know your current remaining benefits, setup an appointment or ask us another questions we would be glad to help!