If you are fortunate enough to have dental benefits, you may or may not be aware that benefits under many insurance plans have an annual expiration date.
As we approach Thanksgiving, it’s a great time to refresh your memory about expiring benefits, so that you can make the most out of your coverage for 2018.
What happens when your benefits expire?
Most insurance companies follow the calendar year. As the year ends, the insurance benefits that are available to you for that year will also end. This means if you have any unused 2018 dental benefits, you will lose them on January 1, 2019.
You have paid the insurance company for dental coverage, and in exchange they provide reimbursement in accordance with your plan. If you don’t use all of the funds available to you, the unused portion isn’t refunded to you, nor does it roll into next year – it goes back to the insurance company. When you lose benefits, essentially you lose money.
What happens when a plan has a deductible?
If your plan has a deductible, you should be doubly attentive at this time of year.
A deductible is a specified amount of money that you must pay toward dental procedures before your insurance company will pay a claim.
Unfortunately, your deductible will reset at the beginning of the new year. This means that on January 1, 2019, you will need to once again pay your deductible before your insurance will start paying for dental treatment again.
If your plan has a deductible, chances are good that you have already paid your annual deductible by this point in the year, and your 2018 dental benefits will have kicked in. If you put off needed treatment until 2019, not only will you have to pay your deductible again, but you will also have lost unused benefits that were available to you in 2018.
Get help with understanding your coverage
Your Denturist’s staff want to help you make sure you are not spending more out-of-pocket for treatment than you need to.
If you’re having trouble figuring out exactly what your dental insurance plan covers, please talk to your Denturist’s office staff. They are well versed in the language used by insurance companies and can often help you determine the benefits coverage you have.
Create a plan to make the most of your 2018 benefits
If you have remaining dental benefits coverage for this year, you should consider if you have any dental or denture work that needs to be done. If so, that work may be covered by your insurance benefits.
Your Denturist’s team will be able to create a plan to help you get the treatment you need while taking full advantage of your insurance at the same time.
They can send estimate and claim forms to your insurer for you, provide additional details to your insurer upon request as they relate to your treatment, schedule needed dental work before the end of the year. All of this will help you get the most out of your annual insurance benefits.
Don’t let your 2018 benefits slip away – as they say, use it or lose it.