Make the most of health insurance before year-end

As the holidays approach, it's easy to forget to take advantage of your insurance benefits. Now is a good time to review your outstanding health care needs and take full advantage of paid-up deductibles or available funds in Flexible Spending Accounts while you still can.

"In considering their health care needs, people should also consider the best strategy for using their available health insurance plan benefits," said Keisha Ellis, FNP-C (certified family nurse practitioner). "Take advantage of unused benefits to complete outstanding treatments or recommended tests or procedures before the year ends."

Most health insurance plans have a deductible requirement — a predetermined amount of health care expense that must be covered before the plan begins paying the majority of (if not all) remaining expenses. Ellis says it's crucial to know how close you are to meeting your deductible — or if you've already met it — "because once you reach that threshold, you have a limited window of opportunity to obtain health care services and have the bulk of that expense covered by your plan. Remember: a new year brings a new deductible," she said.

The close of 2022 also affects individuals who have Flexible Spending Accounts (FSAs), which are pre-tax dollars set aside primarily for health-related expenses. The Internal Revenue Service requires those funds to be spent — or forfeited — by Dec. 31. It's a "use it or lose it" proposition, Ellis said.

If you have been putting off scheduling care, such as an annual check-up, allergy testing or elective surgery, it would be wise to check your deductible status and your FSA balance to see if there's money to be saved.

"It's important to schedule services promptly so there is enough time to have the test or elective procedure done before the end of the year. Getting everything squared away by early December will help ensure the services you receive are considered part of your 2022 coverage," she said.

Every health plan is different. It is important to know how your plan works so you can get the most from your benefits.

To make an appointment with a primary care provider to discuss your options please visit https://www.easternnewmexicomedicalgroup.com/family-medicine-care or call 624-CARE.

Keisha Ellis, FNP-C, is with the family medicine and walk-in clinic of the Eastern New Mexico Medical Group.