According to industry research, around two-thirds of Americans have some form of private dental coverage. Of course, the actual cover, if any at all beyond basic care, depends specifically on the plan. Almost all plans at least cover regular dental cleanings, maintenance, and basic repair such as crowns or necessary bridgework. But many plans offer far more benefits that often go unclaimed such as whitening before the holidays. If you’ve either earned those benefits through work or paid premiums for the options, you need to take full advantage of them by the end of the year. But what are some of the main reasons to use your dental benefits before the new year arrives?
Benefits Won’t Roll Over
Dental plans come with an annual spending cap, usually averaging around the $1,000 mark. The time frame for using those benefits often begins on January 1 and ends on December 31, regardless of when you actually sign the paperwork. Once January rolls around again, whatever’s left on your plan doesn’t roll over. It simply renews for another year. So waiting until mid-January to get $2,000 worth of dental coverage won’t work. You’ll just lose the unclaimed coverage you had during the previous year.
You’ve Likely Already Paid Your Deductible
Dental plans generally require a set deductible to be paid prior to any receiving any benefits. So if you’ve had your dental checkups or cleanings, you’ve already paid that fee. And if not, you need to get the necessary work done prior to the end of the year. Otherwise, the deductible will reset again for the new years just like the benefits do.
You Could Waste Valuable Tax Benefits
Many successful or large businesses contribute to a Flexible Savings Account (FSA) and/or a Health Savings Account (HSA) for their employees. These programs often involve the employers matching what the employees invest into their own savings or health care budgets in lieu or on top of existing employee dental plans. It’s important to understand that none of the money in those investment accounts are taxable. But they do usually have a January 1 deadline to use the contributions and any money remaining will be forfeited upon the reset date.
Rates and Prices Increase
Dental procedures and techniques don’t change from year-to-year, but equipment and materials constantly upgrade and improve. Those improvements aren’t cheap, let alone free, and dentists sometimes need to adjust or increase their prices to account for the better options. That can affect treatment costs which can, in turn, raise premium or co-pay rates. Getting your treatments in, from whitening before the holidays to dental implants, can help save you a bundle before the rates hike.
Dental Problems Don’t Just Go Away
It’s human nature to procrastinate, especially when it comes to something they think will be unpleasant; and dental work often falls into that category. However, that’s a catch 22 as catching or correcting problems early can be the only way to avoid further discomfort and cost. Many dental issues only become worse and can range from stained enamel and gum disease to crooked and missing teeth. Getting the necessary treatment before the end of the year can end up saving you a lot of money in the long and short runs. Contact your Red Bank dentist to use your dental benefits and feel and look your best just in time for the new year.
