As the Year Winds Down, Your Benefits Clock is Ticking
The end of the year can sneak up on us, especially during the flurry of holiday preparations. It's easy to overlook important health and financial benefits amidst this rush. If you're feeling overwhelmed or uncertain about what steps to take, you're not alone. The reality is that now is the time to act and ensure you do not leave valuable benefits and savings on the table. Consider the "Use It or Lose It" Nature of Flexible Spending Accounts
Many readers may not realize that their Flexible Spending Accounts (FSAs) generally have a "use it or lose it" policy. Unless your plan includes a rollover or grace period, any unspent money will simply disappear. Take a moment to check your balance and spend down on eligible expenses before December 31st to avoid losing out. Take Advantage of Your Health Savings Account's Triple Tax Advantage
Don't forget that Health Savings Account (HSA) contributions can still be made through the end of the year. With their triple tax advantage, including tax deductions on contributions, tax-free growth, and tax-free withdrawals for qualified expenses, maximizing your HSA contributions is a smart financial move. Is Your Deductible Met? Time to Book Those Appointments
For those who've already met their health insurance deductibles, this could be an excellent opportunity to schedule check-ups, procedures, or follow-up appointments. Remember that your deductible will reset at the start of the new year, so making those appointments now could save you a significant amount of money. Don’t Let Prescription Refills Fall Through the Cracks
If your deductible or out-of-pocket maximum has been met, now is an optimal time to refill any recurring medications early. This simple step can optimize your savings and ensure you have the medications you need heading into the new year. Squeeze in Last-Minute Dental or Vision Appointments
Whether you’re due for a cleaning or an eye exam, use any remaining benefits by scheduling appointments now. If your provider is booked, ask to be added to a cancellation list to increase your chances of getting an appointment before year-end. Help is at Hand: Contact Your Benefits Advisor
Navigating the ins and outs of your benefits can be daunting. If you're unsure about your coverage or remaining benefits, don't hesitate to contact your plan administrator or benefits advisor. They can provide clarity and help you make the most of your benefits. Act Now for End-of-Year Peace of Mind
Just a few small steps today can lead to substantial savings and a smoother transition into the New Year. Take charge of your benefits before December 31st; you'll thank yourself later. Check your current status, and if you need assistance, reach out to a professional who can guide you. Empower yourself by taking control today!
