By Professional Physical Therapy
The end of the year is fast approaching, and with it comes the perfect opportunity to make the most of your health insurance benefits. Many people don’t realize that their insurance coverage often resets at the beginning of the new year, which means any unused benefits will be lost. We will discuss the importance of getting the most from your health insurance before the year ends and provide valuable tips on how to maximize your medical insurance deductible and utilize your FSA dollars wisely.
5 Proactive Steps to Maximize Your Benefits
- Schedule Pending Medical Procedures and Check-ups:
If you have any pending medical procedures, surgeries, or specialist appointments recommended by your healthcare provider, schedule them before the year ends. This ensures that the costs are covered under your current insurance plan. Additionally, book your annual check-ups, screenings, and vaccinations. Preventive care is often fully covered by insurance and can help catch any potential health issues early.
- Utilize Your Remaining Deductible:
Your deductible is the amount you must pay out-of-pocket before your insurance coverage kicks in. If you have already met your deductible for the year or are close to doing so, it’s a great time to undergo any necessary medical treatments or therapies you have been delaying. Once you’ve met your deductible, your insurance coverage typically pays a majority or higher percentage of your healthcare costs. By scheduling appointments or procedures before the end of the year, you can take advantage of this higher coverage and reduce your out-of-pocket expenses.
Don’t forget, your annual deductible that you have been paying all year is about to reset January 1.
- Use Your FSA (Flexible Spending Account) Funds:
In some cases, you or your spouse/partner may have a Flexible Spending Account (FSAs). This account allows you to set aside pre-tax dollars for qualified medical expenses. If you have a Flexible Spending Account (FSA), it’s “use it or lose it.” FSA funds are pre-tax dollars that can be used for qualified medical expenses, such as co-pays, prescription medications, medical equipment, and certain procedures. Check the balance of your FSA and use the remaining funds for necessary medical expenses or stock up on eligible items like contact lenses, prescription eyewear, or first-aid supplies.
Your Flexible Spending Account (FSA) most likely will not rollover to the next year, you may lose that money altogether if you don’t use it before January 1.
- Explore Preventative Care with a Physical Therapist:
Preventative care is covered by health insurance plans and typically includes screenings for diabetes, cholesterol, blood pressure, and dental. Many people overlook the importance of a wellness screen with a licensed physical therapist. It’s important to add physical therapy to your annual screenings to help address aches and pains before they worsen or become routine. PTs are movement experts that can assess your joints, muscles, and movement patterns to ensure continued, optimal physical health.
- Review and Optimize Your Prescription Medications:
If you are on prescription medications, review your current prescriptions with your healthcare provider. They can help you identify cost-effective options, such as generic medications or therapeutic alternatives that are covered by your insurance plan. Some insurance plans also offer mail-order pharmacy services, which can be a more affordable way to get your medications, especially for maintenance medications taken regularly.
Other Tips for Maximizing Your Benefits:
- Review Your Policy: Familiarize yourself with your insurance policy, including deductibles, co-pays, and coverage limits. Understanding your benefits can help you plan your healthcare expenses effectively.
- Consult Your Healthcare Provider: Talk to your healthcare provider about your remaining benefits and discuss any recommended treatments or procedures. They can help you schedule appointments and navigate the insurance process.
- Be Proactive: Don’t wait until the last minute to schedule appointments. Healthcare providers’ schedules can fill up quickly, especially towards the end of the year. Plan ahead to secure the best available dates for your treatments.
- Keep Records: Maintain a record of all your medical expenses, including receipts and insurance statements. This documentation can be valuable for filing claims and ensuring you receive the maximum coverage.
Procedures to Consider Before Year’s End:
- Physical Therapy Sessions: If you’ve been delaying physical therapy, now is the time to start. Whether you’re recovering from an injury or managing a chronic condition, using your insurance benefits to cover physical therapy can greatly improve your quality of life.
- Dental Procedures: Dental insurance often comes with an annual maximum benefit. If you need any dental work, such as fillings, cleanings, or orthodontic treatments, scheduling these appointments before the end of the year can help you make the most of your dental insurance.
- Vision Care: If you have vision insurance, consider using your benefits for an eye exam, new glasses, or contact lenses. Healthy vision is essential, and your insurance can significantly reduce the out-of-pocket costs for these services.
- Preventive Screenings: Many insurance plans cover preventive screenings and vaccinations. Schedule any overdue health check-ups, mammograms, colonoscopies, or vaccinations to ensure you’re up to date with your health maintenance.
- Mental Health Services: Mental health is just as important as physical health. If your insurance covers therapy or counseling sessions, consider seeking the support you need before the year ends.
By taking proactive steps, you can ensure that you are making the most of your health insurance before the end of the year. It not only helps you save money but also allows you to prioritize your health and well-being effectively.
If you have any pain or discomfort or even if you feel perfectly healthy, preventative care is so important. Let us identify any problems or risks so you can maintain your health and energy. Click here or the button below to schedule a complimentary assessment at Professional Physical Therapy.
You can also visit one of our Professional Physical Therapy clinics near you to get started. Request an appointment for a consultation so you can feel better and get back to doing the things you love. We’re here for you!