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Use it or lose it!

If you have almost met (or met) your deductible any medical expenses for the remainder of 2016 will have little to no out-of-pocket cost.

How to get the most out of your health benefits!

If you have met your deductible

Most insurance plans run on the calendar year meaning that in just a few weeks, the deductible resets to zero.  If you have almost met (or met) your deductible any medical expenses for the remainder of 2016 will have little to no out-of-pocket cost.

Flexible spending account

If you have a Flexible Spending Account (FSA), it’s important to remember funds from this account do not roll over from year-to-year.  Check to make sure you have used all of your available funds for the year and if not be sure to take care of any qualified medical expenses before the new year.

If you are not close to meeting your deductible

If you are not close to meeting your deductible for the year, it makes sense to delay any healthcare expenses until after January 1st when the money you spend can go toward meeting your 2017 deductible. Any money spent now that will not put you above your deductible will, in a sense, be lost.

Health Savings Account

If you have a Health Savings Account (HSA), money in this account will roll over, so there is no need to spend all of it before the year ends. If your funds are accumulating and you don’t forsee any high medical expenses in the future, consider investing your HSA into a mutual fund.  Particularly for those that are young and healthy, this is a great way to make a tax-free investment and grow your HSA.

For more information on how to maximize your health benefits call the IRG location nearest you today!

McCostlin R. (2014, December 16). Tips for the End of the Deductible Year (web log post) Retrieved from http://www.bernardhealth.com/woofstreetjournal/bid/199722/Tips-for-the-end-of-the-deductible-year

 

Categories: IRG Highlights
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Posted on November 1, 2016

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Use it or lose it!

If you have almost met (or met) your deductible any medical expenses for the remainder of 2016 will have little to no out-of-pocket cost.

How to get the most out of your health benefits!

If you have met your deductible

Most insurance plans run on the calendar year meaning that in just a few weeks, the deductible resets to zero.  If you have almost met (or met) your deductible any medical expenses for the remainder of 2016 will have little to no out-of-pocket cost.

Flexible spending account

If you have a Flexible Spending Account (FSA), it’s important to remember funds from this account do not roll over from year-to-year.  Check to make sure you have used all of your available funds for the year and if not be sure to take care of any qualified medical expenses before the new year.

If you are not close to meeting your deductible

If you are not close to meeting your deductible for the year, it makes sense to delay any healthcare expenses until after January 1st when the money you spend can go toward meeting your 2017 deductible. Any money spent now that will not put you above your deductible will, in a sense, be lost.

Health Savings Account

If you have a Health Savings Account (HSA), money in this account will roll over, so there is no need to spend all of it before the year ends. If your funds are accumulating and you don’t forsee any high medical expenses in the future, consider investing your HSA into a mutual fund.  Particularly for those that are young and healthy, this is a great way to make a tax-free investment and grow your HSA.

For more information on how to maximize your health benefits call the IRG location nearest you today!

McCostlin R. (2014, December 16). Tips for the End of the Deductible Year (web log post) Retrieved from http://www.bernardhealth.com/woofstreetjournal/bid/199722/Tips-for-the-end-of-the-deductible-year

 

Categories: IRG Highlights
Tagged In:
Posted on November 1, 2016

Upcoming Events & Classes

See More Events

Physical Therapist Tips

Sports and physical activity can benefit your health. The benefits of exercise offer stress relief, improving one’s mood, and can provide a better night’s sleep. However, with sport activities comes the risk of an injury …

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