Don't Let Year-End Rush Steal Your Benefits

As the end of the year quickly approaches, it's easy for many of us to get caught up in the holiday rush and overlook important health and financial benefits that are about to expire. It’s natural to feel a bit overwhelmed, especially when you're unsure of the steps to take. But acting now could mean the difference between losing out on valuable coverage and enjoying significant savings. Let's break down some key actions you can take to ensure you’re maximizing your benefits before December 31st.

Max Out Health Savings Account Contributions

Consider contributing the maximum amount to your Health Savings Account (HSA). Not only can you make contributions through the end of the year, but the triple tax advantage—tax-deductible contributions, tax-free growth, and tax-free withdrawals on eligible expenses—makes it an attractive option.

Refill Prescriptions Early

If you’ve already met your deductible or out-of-pocket max, now is the time to look into refilling any recurring medications. By doing so, you can take advantage of this year's benefits and potentially save money.

Use Your Flexible Spending Account Funds

FSAs follow a "use it or lose it" rule. Unless your plan offers a rollover or grace period, you'll need to spend down your balance on eligible expenses before December 31st. This could be the perfect opportunity to acquire necessary medical supplies or make pending healthcare purchases.

Book Dental or Vision Appointments

Got any remaining dental or vision benefits? Schedule appointments now to avoid losing them. If you're having trouble finding available slots, ask providers about cancellation lists for potential openings.

Check Your Deductible Status

Take a moment to check if you’ve met your health insurance deductible. If so, consider scheduling check-ups, procedures, or follow-up appointments before your deductible resets at the year's end.

Reach Out for Guidance

If you're feeling uncertain or need more clarity about your benefits, don't hesitate to contact your plan administrator or benefits advisor. Professional guidance is just a call away and can make all the difference in maximizing your coverage.

Remember, a few small steps now can lead to significant savings and peace of mind. Make sure you act before December 31st and take control of your benefits today. Check your current status or reach out to a professional if you need assistance. The end of the year doesn’t have to mean the end of your benefits!