It’s that time of Year… Use It or Lose It!

 Just a friendly and helpful reminder that most companies start their Open enrollment in October/November. This allows you to carefully select your medical and dental insurance carrier. If you are not sure which group to sign up for, please do not hesitate to call the office and ask for Josephine for more information. She will gladly help you with the process. She can explain how your insurance works, information on deductibles and maximum coverage before deciding which policy to keep or switch to. She will guide you on how to maximize your dental benefits. One more thing to think about is an FSA or HSA. A flexible spending account (FSA), is one of the many tax-advantaged financial accounts that can be set up through a cafeteria plan of an employer. An FSA allows an employee to set aside a portion of earnings to pay for qualified expenses as established in the cafeteria plan, most commonly for medical and dental expenses. Money deducted from an employee’s pay into an FSA is not subject to payroll taxes, resulting in substantial payroll tax savings. Under the Affordable Care Act, employees can carryover up to $500 into the next year without losing the funds. This program lets you put away $ 2,650 per family for the FSA.
Another type of flexible spending account is an HSA (Health Spending Account). It’s similar to a health reimbursement. In addition, funds in a health savings account are not lost when the plan year is over, unlike funds in an FSA. Paper forms or an FSA debit card, also known as a Flexcard, may be used to access the account funds. HSA has no limit pretax that you can use to cover your co insurance for medical, dental, prescriptions and other out of pocket costs.
Keep in mind that your insurance benefits run out December 31. Most plans do not let you carry over any remaining benefits. Any insurance benefits will literally go to waste. Please call the office to schedule any pending treatments needed as the office will be closed for the holidays starting Monday, December 24, this allows my team to spend time with their family. We will be back on Monday January 7, 2019.
For more information, please visit www.kimrosendds.com or stop by the office at 27420 Tourney Rd., Suite 270 in Valencia. You can reach Kimberly A. Rosen, D.D.S at 661-255-2545.