Maximize Your Health and Financial Benefits Before Dec 31

Act Now: Don’t Let the Year-End Slip By

The end of the year always seems to sneak up on us. Between holiday preparations and the rush to conclude work projects, it’s easy to overlook valuable health and financial benefits only available through December 31. If you’re feeling overwhelmed or uncertain about the next steps, you’re not alone. However, acting now can ensure you don’t lose out on coverage and savings you’re entitled to. Let’s explore some key areas to focus on:

Refill Prescriptions Early

If you’ve met your deductible or out-of-pocket maximum, refilling prescriptions now can offer significant savings. This time of year might be the best opportunity to stock up on recurring medications while costs are minimal.

Utilize Your Flexible Spending Account

FSAs are typically “use it or lose it” accounts. Check your balance and spend any remaining funds on eligible medical expenses before December 31, unless your plan allows for a rollover or grace period. Better to use it now than lose it later!

Schedule Dental or Vision Appointments

Make sure you utilize any remaining dental or vision benefits before time runs out. If appointments are booking fast, ask your provider about cancellation lists to secure a spot before benefits reset.

Max Out Health Savings Account Contributions

Maximize your HSA contributions up until year-end, and take advantage of the triple tax incentive: tax-deductible contributions, tax-free growth, and tax-free withdrawals for qualified expenses.

Check Your Deductible Status

Now is the perfect time to determine whether you’ve met your deductible. If you have, consider scheduling any last-minute medical check-ups, procedures, or follow-ups to maximize your insurance benefits before they reset.

Contact Your Benefits Advisor or Plan Administrator

Should you have questions regarding your benefits or coverage, reaching out to your plan administrator or benefits advisor can offer clarity. They’re there to assist you in understanding your options, ensuring you make informed decisions before the deadline.

A few proactive steps now can lead to significant savings and peace of mind. Remember, the deadline to capitalize on these benefits is December 31. Take control and make sure to protect your and your family’s health and financial future. If you need guidance, don’t hesitate to reach out to a professional. Taking these actions can make all the difference as we approach the year-end finish line.