Use it or Lose it!
Did you know your dental benefits reset every year? It’s true. If your dental insurance plan, like most is on a calendar year, you will lose out on all unused benefits after December 31st. That means this is a great time of year to take advantage of everything your dental insurance provides, especially if you have outstanding treatments.
Many dental insurance plans provide coverage for two checkups a year at six-month intervals. So, if you haven’t had a cleaning in the last six months, now is an excellent time to schedule an
How Insurance Benefits Work
For most insurance providers, they allot a certain amount of funds every year. When the end of the year comes, the unused funds don't go into your bank account - they go into the insurance company's bank account. This is money dedicated to that particular year that could have gone toward any work you need done. This is why, if you've already started getting work done, it's best to complete the entire process before the end of the year.
It's Your Money
The money that is used for your benefits is money you worked for. You wouldn't show up to work with the understanding that you'll be working for free all day, so why would you throw money away by not using your benefits?
1. The yearly max
The vast majority of dental insurance plans come with an annual maximum coverage cap. Usually, this falls between $1,000 and $1,500 per person, with the coverage amount renewing every year on January first. Since these dollars do not roll over, it makes sense to use them if you can.
If you have an especially costly set of related procedures lined up, it is possible to schedule them to start before – and complete after – January first. This is a smart way to reduce out-of-pocket costs by maximizing your benefits.
Most dental plans require patients to pay a specific amount of money out-of-pocket before any benefits kick in. If you have already met your deductible requirements, consider scheduling an appointment with Dr. Medina for any procedure you may have been putting off. After all, once January first rolls around, you will be saddled with a brand new deductible.
4. Dental problems only get worse
Humans love to procrastinate, especially when faced with the prospect of unpleasant dental work. Unfortunately, because the vast majority of dental issues worsen with time, procrastination tends to lead to more discomfort and higher costs. If you seek treatment now, before the end of the year, you are likely to pay less for your treatment. On the other hand, if you wait, you may have to pay more without getting much help from your dental insurance provider.