As we head into the final months of the year, it is a suitable time to review what actions you may want to consider taking, if any, to maximize the benefits you chose since last open enrollment entirely. Many health insurance plans operate on a calendar year basis, meaning any unused benefits may not roll over into the new year. If you are considering a different plan for the next year, even more reason to look over the points below. Here are a few key reminders to help you make the most of your coverage:
- Schedule Preventive Care: If you have not already, make an appointment for your annual checkups, screenings, and vaccinations. Preventive care is often covered without out-of-pocket costs and may help detect health issues early.
- Use Your Flexible Spending Account (FSA): FSAs (if you have one) typically have a "use-it-or-lose-it" policy. Check your balance and plan to spend any remaining funds on eligible medical expenses, such as prescription glasses, dental work, or over-the-counter medications. Determine if the expense you incurred may be eligible here.
- Review Your Prescription Coverage: Ensure you have enough medication to ensure you are taking the medication as prescribed. If you need refills, now is the time to get them. For any prescriptions for which your physician or health plan may have had to authorize, revisit them to confirm if any action may be needed to continue the same medication.
- Plan for Next Year: Take a moment to review your current plan and consider any changes you might need for the next year based on past year experience as well as any anticipated expenses in the future. Open enrollment periods are a suitable time to review and/or adjust your coverage based on your health needs.
If you'd like to learn more, please contact me at:
John Vasquez
Director of Client Advocacy
jvasquez@venbrook.com
858.764.7403
