The end of the year is just around the corner…
…and you know what that means. The Holidays! But it also means time is running out for people to use their FLEX savings benefits on orthodontic care. We get multiple calls every day this time of year asking us about FLEX/FSA/HSA benefits and how to use them in our office. We wanted to take just a minute and answer some of the most common questions we get when it comes to using your accounts.
- What is a FLEX/FSA/HSA account?
These kinds of accounts allow you to set aside tax-free funds to use specifically on medical treatments. These accounts have become quite common and most employers offer these accounts as part of their benefits packages or as an option.
- “Use it Or Lose It” Policies
Many of these types of accounts have a “Use it Or Lose It” policy. That means that you have to use the funds before the end of the year or the tax savings on the funds are forfeited.
- Can I use them towards orthodontic care?
These funds can be used towards your active orthodontic account (meaning patient is in treatment), or for replacement retainers – which insurance doesn’t always cover.
- When should I use my benefits?
We see a rush this time of year with people trying to empty their FSAs. Beat the rush and schedule an appointment today to use up the remaining flex dollars that you might have set aside. We are closed the partially the week of Thanksgiving and last week of December so our schedule will fill up quickly.