Get the Most Out of Your Dental Benefits Before the End of 2023
It’s time to make the most of your dental insurance benefits in Myers Park, Charlotte, NC, as the end of the year draws near. We know that the end of the year can be hectic and stressful for many people and families. Amidst planning for the busy holiday season and being engrossed with other festive activities, your oral health might frequently suffer.
To keep your hard-earned money from being wasted, our dentist in Myers Park/Dilworth Area, Dr. Haydn G. Jones will assist you in enhancing your smile and maximizing the benefits of your dental insurance. Here are some useful pointers to help you utilize your dental benefits and greet the new year with a radiant, healthy smile!
Annual Dental Insurance Benefits
First and foremost, it’s important to understand the possibilities and limitations of your insurance benefits as they relate to your dental health. Dental insurance benefits are oral health plans that let people effectively manage the cost of maintaining healthy dentistry. Most dental insurance coverage is direct and specific about which oral services are covered and the out-of-pocket cost you need to pay.
To determine your annual limit, look at your dental insurance company’s recent Explanation of Benefits (EOB) statement. The total amount your insurance company will cover for your dental care during the fiscal or calendar year is the annual maximum.
Compare this amount to the highest annual amount you have ever used. You’re in luck if there is still money to spare! It’s time to maximize your remaining benefits and visit our Myers Park dental office to make an appointment.
Covered Care and Services
It’s crucial to remember that not all procedures are covered by your dental insurance. Certain treatments might not be covered, even though it might cover certain procedures fully and others only partially. The expense of oral surgery, root canals, crowns, fillings, and other preventive procedures is typically covered by dental insurance. Orthodontic treatments and restorative procedures, including dentures and bridges, may be partly covered.
Sometimes, your plan permits two preventive visits each year, whether family or individual. Furthermore, the 100-80-50 structure is used by the majority of dental health insurance policies. This suggests that most dental insurance plans pay for preventative care at 100%, including yearly cleanings, 80% for basic treatments, and 50% for significant procedures.
When Do Dental Benefits Reset?
Details on when dental benefits expire will be discussed under the “Use Em or Lose Em Principle and Yearly Maximum.” This will help you understand the urgency of using your end-of-the-year dental benefits before they reset.
Use ‘Em or Lose ‘Em Principle
The expiration dates of insurance policies vary depending on the provider, so be sure to verify with yours. Dental benefits frequently expire at the end of the year and reset on January 1st of the subsequent year; if you don’t use all of your allocated amounts, you forfeit it!
That means any benefits you haven’t used up by the time the calendar changes over cannot be accessible in the next year. Therefore, you are not eligible to carry over your dental checkups into the new year if you cannot utilize them this year.
Yearly Maximums
Every dental insurance plan has a maximum amount the insurer will pay in a calendar year. The annual maximums often fall between $1,000 and $1,500. But at the end of the year, that money will go unless you utilize it. Make sure to utilize all of the features available in your plan, as there is no way to carry over unused maximums.
Health Savings Accounts
People enrolled in high-deductible health plans (HDHPs) can open a tax-advantaged Health Savings Account (HSA) to save money for eligible medical expenses. The person or their company contributes to the account, which is capped at a certain amount every year. The contributions are invested over time and can be used to cover prescription medications and other qualifying medical costs, including dental, vision, and medical care. A more detailed explanation of how HSA works is given below.
How Health Savings Accounts Work
Contributions to health savings accounts (HSAs) are made before taxes. Any money you deposit that isn’t taken straight out of your paycheck is tax deductible. The cap for single-insured people is $3,650 in 2022, while the cap for families is $7,300. These caps rise by $1,000 for each person above 55. All contributions made by employers are included in these caps.
We offer an in-house dental savings plan at Haydn G. Jones. Our dental savings plan is intended to increase accessibility to reasonably priced, high-quality dental care. For most services, there is a reduced price schedule. You save money on crowns, cosmetic operations, fillings, and cleanings!
Use Your Dental Benefits in the Myers Park/Dillworth Area
We provide comprehensive general and cosmetic dental care at our Haydn G. Jones Dentistry. Our dentists cater to the different needs of our patients by offering friendly, reasonably priced dental care.
Contact us now for additional details on the plans we accept and how to use your dental insurance in the Myers Park/Dilworth Area. Make an appointment so that you can take full use of your dental insurance benefits before they run out.