End 2019 on top of it all.
Now is the time to be on top of your benefits!
Are you are running low on supplies? Have you met your 2019 out-of-pocket limit? Your insurance might cover 100% of your order*.
*Subject to insurance plan requirements
Because insurance benefits typically reset after the New Year, November & December is the ideal time to go over your plan. For example, you may find that you have met your annual out-of-pocket limit, or that you are still eligible for additional medical supplies based on your annual plan limits. In both instances, you may incur less out-of-pocket expenses when reordering needed medical supplies in November & December.
How do I find out how much of my out-of-pocket limit has been met for the year?
Check with your health insurance provider to review your account details, including whether you’ve reached your annual out-of-pocket limit. You can also ask about your medical supply limits to ensure you understand your annual eligible limits for the medical supplies you need. Note: Orders for supplies exceeding these limits may not be covered by your insurance without special documentation from your doctor.
If you have a Flexible Spending Account (FSA), ensure you spend the pre-tax dollars before they disappear.
Why do I have to spend my FSA dollars before a certain date?
Most FSA participants are part of a "use it or lose it" plan, which states that all the money left in your account by the end of the year must be forfeited. The unused amount left in your account cannot be paid out to you in any other way, and you cannot transfer money to any other FSAs.
The good news is many employers provide a grace period of up to two and a half months into the new year for you to use the money in your account. Therefore, keep in mind the December 31 and March 15 annual cut-off dates! But you should check with your employer and health insurance plan as some grace periods can be shorter.
What can I purchase with my FSA dollars*?
*Subject to individual FSA requirements
Common purchases include everyday health care products like bandages, thermometers and glasses. Everything from medical expenses not covered by your health plan, to deductibles and co-pays, dependent day care and over-the-counter medication can also be eligible.
Examples of common covered over-the-counter items are:
- Bandages, Band-Aids and gauze
- Batteries for hearing aids
- Bladder Control Pads
- Blood Pressure Monitors
- Heating pads
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