Make the Most of your Health Insurance
10/26/2022
Schedule appointments, tests and surgeries to maximize your health plan benefits before year end.
MOBERLY, Mo. (October 26, 2022) – As the holidays approach, it’s easy to forget to take advantage of your insurance benefits. Now is a good time to review your outstanding health care needs and take full advantage of paid-up deductibles or available funds in Flexible Spending Accounts while you still can.
“People should be strategic when it comes to using available health insurance plan benefits when considering health care needs,” said Michael Hall, Moberly Regional Medical Center's chief executive officer. “It could be beneficial to take advantage of unused benefits to complete outstanding treatments or recommended tests or procedures before the year ends.”
Most health insurance plans have a deductible requirement—a predetermined amount of healthcare expense that must be covered before the plan begins paying the majority of (if not all) remaining expenses. Hall says it’s crucial to know how close you are to meeting your deductible—or if you’ve already met it “because once you reach that threshold, you have a limited window of opportunity to obtain health care services and have the bulk of that expense covered by your plan. Remember: a new year brings a new deductible,” Hall says.
The close of 2022 also affects individuals who have Flexible Spending Accounts (FSAs)—which are pre-tax dollars set aside primarily for health-related expenses. The Internal Revenue Service requires those funds to be spent—or forfeited—by December 31. It’s a “use it or lose it” proposition, says Hall.
If you have been putting off scheduling care, such as an annual check-up, allergy testing, or elective surgery, it would be wise to check your deductible status and your FSA balance, encourages Hall.
“Now is the time to schedule services so there is enough time to have the test or elective procedure done before the end of the year,” Hall said. “Getting everything squared-away by early December can help ensure the services you receive are considered part of your 2022 coverage.”
Every health plan is different. It is important to know how your plan works so you can get the most from your benefits.
To schedule an appointment with a primary care provider at Moberly Rural Health Clinic or Chariton Valley Family Medicine, visit moberlyphsyicians.com or call 660-263-9095.
Moberly Regional Medical Center offers a free e-newsletter with a monthly dose of health and wellness inspiration sent directly to your inbox from a trusted medical source. Visit moberlyregionalmedicalcenter.com/enewsletter-sign-up to sign up.
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