29 Sep Use It or Lose It: Getting the Most Out of Your Dental Benefits
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Don’t Let That HSA Money Go to Waste
Do you have a Health Savings Account (HSA) through your employer? This is an account that either you or your employer adds pre-taxed money to that is designated for health related expenses. In many cases, funds left in the account at the end of the year are lost. That is a good reason to use up any leftover funds now. Otherwise you are losing money you have saved; and throwing away free money that your employer has kicked in.
Maybe you find yourself with extra HSA funds this year and are not sure how to spend it. Have you considered checking in with your dentist? Many people do not realize that their dental bills can also be paid for with HSA funds.
There are several ways that you can use your HSA account in the dentists’ office:
- To pay for deductibles and co-pays on certain procedures. Maybe you have been putting off getting that crown or bridge because your insurance will only cover a portion of the cost. Did you know that you can use your HSA account to pay the rest?
- To try a new service. Have you been thinking about getting your teeth whitened but it wasn’t covered by your insurance? Don’t worry; your HSA can pay for it! Check with your dental provider to see what other services you may benefit from that you have never considered before.
- To buy products from the dentist. Many dental offices now have on-site “stores” that sell a variety of dental related products. If your dentist sells preventive care items like Sonicare, specialty toothpastes, etc, you can use funds from your HSA to purchase them. When trying to use up excess HSA funds, consider buying a product you have always wanted to try but just did not have the money for in the past.
- Stock up on dental prescriptions. Prescriptions for specialty toothpastes, rinses, and pre-service antibiotics can all get expensive when paid for out of pocket. If you have extra funds in your HSA account, ask your dentist for some new prescriptions to allow you to stockpile some of these regularly used items.
- Pay off old bills. Do you have a lingering dental bill you have forgotten about? if so, use your HSA funds to pay it off. In some cases, your dentist may even be willing to charge your HSA for a down payment on a procedure you plan to have done after the new year, crediting your account with their office for the scheduled work.
Health Savings Account (HSA) funds are designated for use on any health-related items, including dental care. Unfortunately too many people do not realize they can use their account at the dentist’s office, and end up losing some of that money at the end of the year. If you have funds left in your account this year, be sure to talk to your dentist to find ways to empty that account before those funds are lost forever.