Plan to Use Unused Benefits Before 2026

The Year’s End: A Critical Time for Your Benefits

As the end of the year approaches, the hustle and bustle of the holiday season can make it easy to forget about important health and financial benefits that need your attention. Many of us feel overwhelmed with the pressure of year-end tasks, and it’s understandable if you’re not entirely sure where to start. However, taking some small actions now can help you avoid losing out on valuable coverage and savings.

Key Steps to Utilize Your Benefits

Use Your Flexible Spending Account Funds: It's important to remember that Flexible Spending Accounts (FSAs) are typically "use it or lose it" accounts. If your plan doesn't offer a rollover or grace period, make sure you spend down these balances on eligible expenses by December 31st.

Check Your Deductible Status: Have you met your health insurance deductible this year? If so, now could be the best time to schedule necessary check-ups, procedures, or follow-up appointments, as your costs could be lower before the deductible resets.

Refill Prescriptions: For those who have met their deductible or out-of-pocket maximums, consider refilling any recurring medications early. This helps ensure you’re not paying more than necessary once the new year begins.

Book Dental or Vision Appointments: Make use of any remaining benefits by scheduling appointments now. If your provider is booked, ask if there’s a cancellation list to potentially get in sooner.

Max Out Health Savings Account Contributions: Remember, you can contribute to your Health Savings Account (HSA) until the end of the year. These contributions come with a triple tax advantage, making it a wise step for boosting your savings.

Contact Your Plan Administrator or Benefits Advisor: If you're uncertain about your coverage or what's left of your benefits, don't hesitate to reach out for help. They can provide you with the information needed to make informed decisions.

A Few Small Steps Can Lead to Big Savings

Taking charge of your benefits before December 31st can lead to significant savings and peace of mind. While it might seem daunting, remember that a few proactive measures can protect your hard-earned benefits. Don’t wait until it’s too late—take control today by reviewing your benefits status or reaching out to a professional for guidance.