Get and Stay Well for 2023: Make the Most of your Health Insurance Now
10/28/2022
As the holidays approach, it’s easy to postpone appointments, tests, and surgeries – but resist the urge, because now is an ideal time to review your healthcare needs and take full advantage of paid-up deductibles or Flexible Spending Account dollars while you still can.
“It’s important to prioritize your well-being before the year ends so you can start 2023 as your best self,” said Brian Sinotte, FACHE, Market CEO of Northwest Healthcare. “First, make sure you understand how your healthcare insurance plan works. Then, create a strategy to get the most from your benefits – and see if there’s money to be saved.”
Most plans have a deductible requirement – a dollar amount that must be covered before the plan begins paying the majority of (if not all) remaining healthcare expenses. It’s crucial to know how close you are to meeting your deductible – or if you’ve already met it. Once you do, you have a limited window of opportunity to obtain healthcare services and have your plan cover the bulk of the expense. A new year brings a new deductible.
The end of 2022 also affects people who have Flexible Spending Accounts (FSAs) – pre-tax dollars set aside primarily for health-related expenses. The Internal Revenue Service requires those funds to be spent, or forfeited, by December 31.
One last tip: Schedule appointments soon – try to get everything squared away by early December – so that the services you receive are considered part of your 2022 coverage.
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