Isit possible that billions of dollarsof dental insurance benefits go unused every year? A recent study found thatmore than one third of adults under 65 did not submit even one dental insuranceclaim during the year. While other research by the National Association of Dental Providers revealed that less than 3% ofpatients covered by dental insurance plans reach their current maximums.
Haveyou taken advantage of your benefits for 2016? Mostdental insurance plans call for all benefits to reset at the beginning of thecalendar year meaning that any unused2016 benefits vanish.
Hereare three critical questions to consider as you seek to get the most out ofyour dental insurance before the end of the year:
1. Do you have any money remaining in yourFSA?
Anyunused contributions to your employer-provided Flexible Spending Account (FSA)will disappear at the end of 2016. If you have a remaining balance, now is thetime to consider how to use it. For example, if we recommended treatment that you initially postponed, youmay want to schedule your treatment before the end of the year.
2. Have you already paid youryearly deductible?
Yourannual deductible is the amount of money you pay before your insurance beginsto cover treatment costs. If you’ve reached your deductible, treatment coveredby your plan will typically be covered by your insurance from now until the endof the year.
3. Have you reached yourcoverage limit yet?
You maynot have reached your annual coverage limit. For example, if you have an annual maximum of $1000 andyou’ve only spent $400 to date, you have $600 remaining to spend to reach yourannual maximum. If you do not receive dental treatment before the end of theyear, your $600 disappears into thin air.
Let Us Help You Navigate theMaze
Ourteam is well equipped to help you sort through the details of your annualcoverage limits, deductibles, and any remaining benefits available. Contact ustoday to ensure you take full advantage of your remaining dental insurancebenefits before the end of the year.