September 15, 2017
What’s keeping you from receiving the dental care that you deserve? If you think that your dental care won’t be covered by your insurance provider, think again—especially if you have a Health Savings Account (HSA) or Flexible Spending Account (FSA). If your employer offers either of these insurance options to their employees, you may just be able to make use of them before your benefits expire at the end of the year.
Get a Grip on Health Savings Accounts and Flexible Spending Accounts
Have you ever had a medical emergency, but couldn’t afford to pay for it upfront? HSAs and FSAs were created to allow employees an opportunity to save money directly from their pay to put towards health care. The money that you’re saving can go towards “qualified expenses” or copayments, prescription costs, or even coinsurance. Depending on your employer, they may even make additional investments into your accounts as well. To use your savings accounts throughout the year, you’ll typically receive a debit card. Are you unsure about your status or interested in a HSA in Midtown East or FSA plan? Ask your Human Resources department for more information about enrollment.
The Differences Between HSAs and FSAs
Just about anyone can get a Flexible Savings Account—even those that are self-employed! Contributions and distributions are exempt from federal income tax and employment taxes. FSA funds can be used by an account holder, his spouse and his dependents to cover not only his own health care, but the medical care his family needs.
If you have a FSA plan, you’ve probably heard of the saying “use it or lose it.” Most FSA plans end at the end of the year and your account will be wiped clean for the following year. To get the most out of your FSA plan, think about your health care ahead of time. This way, you won’t miss the opportunity to use the money for qualified expenses.
On the contrary, HSAs are available to people who have high deductible health plans (HDHPs). You can’t combine any other insurances if you choose this route, but there is a positive: if you don’t use your full HSA balance it will roll into the next year.
Make the Most Out of Your Insurance by Visiting Drs. Boyd
Generally, FSAs cover any dental care that prevents or treats dental disease. What does that mean for you? You could possibly qualify for these preventive services:
- Tooth Extraction
- Inlays and Onlays
- Diagnostic Testings
There are more services that could be covered with your dental insurance in Midtown East. Don’t waste it by not taking the opportunity to make an appointment now. Contact us today and book a visit! We would be happy to go over insurance policies with you and see what you qualify for.
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