Many individuals do not realize that they could be leaving money on the table when it comes to dental benefits as the year winds down. Under the “Use-It-Lose-It” policy, unclaimed dental benefits vanish when the year does.
People mostly do not get the benefits because they do not know how important it is to use the benefits before they reset. Those who do not take advantage of such benefits lose both coverage and money previously paid into the plan. The patient can reduce costs for treatments they may have otherwise delayed if they act before year-end.
What Is the ‘Use-It-Lose-It’ Policy?
Most dental insurance plans operate on a “Use-It-Lose-It” policy: benefits reset annually, while accrued but unused coverage expires at the end of each year. In other words, if you don’t schedule treatments before December 31st, then you lose those benefits for the year.
If the insurance company doesn’t use your money this calendar year, it disappears when the calendar flips. Don’t let this happen to you; understanding the “Use-It-Lose-It” policy helps you make informed decisions about using your benefits.
The Financial Advantage of Late-Year Treatments
Save money by using remaining benefits for treatments at the end of the year. Money lost from when you didn’t use your benefits could have been spent on dental care. In scheduling such treatments as fillings, crowns, or cleanings, you will not be paying for those out of pocket.
For example, this is true when one has already met their deductible, and the remaining benefits are available for treatments like those mentioned. “Use-It-Lose-It” helps you get the most from your policy while minimizing out-of-pocket expenses.
The Impact of Deductibles on Your Treatment Costs
A deductible is the amount you pay before your insurance kicks in to cover treatments. Meeting it early in the year means your insurance covers more of your treatment costs later in the year.
If you haven’t used all of your benefits by the end of the year, “Use-It-Lose-It” requires you to lose benefits you have already paid for. Knowing when you’ve met your deductible lets you plan late-year treatments wisely to ensure you use benefits before they expire.
Key Treatments to Consider Using Before Year-End
Before your benefits expire, dental cleanings, fillings, crowns, and additional restorative services are great to consider. Don’t neglect using remaining benefits for preventive care, which keeps your teeth healthy and helps you avoid bigger problems later on.
Remember, timing is everything: appointments fill quickly, especially during the final months of the year. Make sure to act now to reserve a spot with your dentist and ensure that you get the treatments you need before your “Use-It-Lose-It” benefits reset.
How to Make the Most of Your Remaining Benefits
The best way not to miss out on your benefits is to plan ahead of time. It’s important to schedule appointments in advance, rather than during the end-of-year rush. Discuss with your dentist what treatments should be completed by year’s end. They can help you prioritize what should be done with your remaining benefits.
Working with your dental team will make it easier to maximize your coverage before the “Use-It-Lose-It” deadline hits and save money in the process.
By using your dental benefits before the end of the year, you may save money and will not lose your coverage. This “Use-It-Lose-It” policy suggests quite clearly that those unspent benefits simply disappear when the year goes out.
Set up your treatments before it’s too late, and make full use of your deductible and coverage. Call our office now to ensure you don’t miss out on critical care. Do not leave money on the table-use your benefits wisely.
