It’s that time of Year
Just a helpful and friendly reminder that most companies start their Open Enrollment in early October and November. This allows you to carefully select your medical and dental insurance company for the year 2020.
If you need information and guidance in making a decision, please do not hesitate to call the office and we will gladly help you with the process. We can explain how your insurance will help your deductibles and maximum benefits and coverage before deciding which policy to keep, sign up for or switch to. This will avoid getting stuck with a company for a year that will not be in your best interest.
Another thing to consider is deciding how much money to put away in your Flexible Spending Account(FSA) or Health Spending Account (HSA). These are 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 their earnings to pay for qualified medical and dental expenses .Money deducted from an employee’s salary is not subject to payroll taxes, resulting in a substantial payroll tax savings. For the year 2019, the current limit is $2700. The limit is expected to be up by $50 for the year 2020. Any members of the family, children included provided they are below the age of 26 are eligible to use the funds.
One important reminder to think about is, insurance benefits run out on December 31. Any unused portion doesn’t roll over to the following year’s benefits. Plan ahead of time to maximize your benefit for this year. You can also call the office and make an appointment to have a comprehensive exam with Dr. Rosen to help you decide how much money to set aside to pay for qualified dental expenses, which insurance to keep or switch to in order to help you with your dental needs. It is time for an annual “physical” check-up of your oral health before the year ends.
For any additional help or information, do not hesitate to call us at 661-255-2545.
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