Give Your 2015 Health Care Benefits a Year-end Check-up
As 2015 comes to an end, it's time to self-check your health care benefits.
Ask yourself these three important questions.
- Have you used your benefits to their fullest? If your insurance includes a deductible or out-of-pocket maximum, it's likely you have hit the limit for this year. If so, any care you get now will cost you less out of pocket – or may be completely covered by your insurance company. Now is the time to reconsider any recommended health care services you may have put off due to a deductible or co-insurance.
- Will you be leaving money on the table when the year ends? Is there a balance in your Flexible Spending Account (FSA)? Start thinking of ways to use these pretax dollars to pay for qualifying medical expenses you may have delayed. Remember, unused funds expire at the end of your benefit period so it's important to use them before they're gone.
- Is your plan still right for you? Examine your coverage during open enrollment at your workplace or on the state health exchange. Many health insurance plans re-set in the new year. Make sure the new plan is right for you. Even if your plan isn't changing and you're happy with your coverage, make sure your health care provider remains in network and that your plan comprehensively covers the treatments you rely upon now or may need in the future. (The Emily Program's insurance verification tool can help with that conversation.)
We encourage you to take an active role in managing your health care.