Many insurance plans try to shift the cost of dental care back onto you with numerous stipulations. However, the end of the year provides an opportunity for you to get the most out of your insurance providers and their restrictions. If you want to get the best value out of your dental benefits, here’s why you should schedule a dental appointment with Drs. Monroe & Monroe Implant and General Dentistry in Pinehurst NC before the New Year.
- The Yearly Max
Most dental insurance plans have an annual maximum coverage cap. This coverage amount is usually somewhere between $1,000 and $1,500 per person, and renews every year on the first of the year. Because of this reset, it makes sense to use up to your maximum if you can.
- Overlapping Years
If you have series of costly related dental procedures planned, it is possible to schedule them to start before – and complete after – the start of the New Year. In this way you reduce your out-of-pocket costs by dipping into the maximums of two benefit years.
If your employer offers a Flexible Spending Account (FSA) that you can pay into on a pre-tax basis, it’s in your best interest to use your entire deduction amount for the year. If not, you will be giving up any FSA contribution you don’t use by the end of year deadline. If you have a Health Savings Account (HSA), you can also use the balance to for your oral health without suffering any tax penalties.
Most dental plans stipulate you pay a specific amount of money out-of-pocket yourself before your provider begins paying. Once you’ve met your deductible, consider scheduling an appointment with the Drs. Monroe for any procedure you may have been putting off. After all, once the first of the year rolls around, you’ll be saddled with a brand new deductible.
- Monthly Premiums
If you are already paying monthly premiums for dental insurance, you should be using those benefits. Many people look at dental insurance as a safety net against high costs related to unexpected emergency dental procedures. However, if you don’t currently have any serious dental concerns, you should use your benefits to pay for routine services such as cleanings to head off minor issues before they become serious.
- Fee increases
Because of the increasing cost of overhead-materials, equipment and staffing- practitioners must raise their fees from time to time. As the New Year begins, providers usually assess their pricing to determine whether fee increases are needed. If you wait until after the New Year, you may end up paying a higher co-pay due to fee increases.So it might be beneficial to schedule your appointment in November or December, before any potential fee increases.
- Dental Problems Will Get Worse
While it’s normal for people to put off things we don’t want to do, especially dental work that might be uncomfortable and/or costly, the vast majority of dental issues only get worse with time. Procrastination can lead to more discomfort and higher costs when you finally do decide to seek treatment. If you seek treatment now, before the end of the year, you are likely to pay far less for your treatment. On the other hand, if you wait, you may have to pay more and your dental insurance provider may not be willing to contribute as much for a more extensive procedure.
To learn more about the insurance and payment options we accept at Monroe & Monroe, call our offices at 910.420.3670.