Maximizing your Medical and Dental Benefits

Depending on your employer and the type of medical insurance provided you may have access to either an FSA or an HSA, both of which can be very helpful in saving you and your family money on medical and dental expenses.  The tax benefits of contributing to these accounts can be great, but it's also important to know the specific features of each to ensure you don't miss out on any of your hard earned money. For instance, any FSA balance above $500 at the end of the year does not roll over to the next year and is lost. Some are set up to expire at the end of the calendar year while others operate on a fiscal year.  Here are a few other facts you may find useful:

- Both FSAs and HSAs can be utilized for many dental procedures including fillings, crowns, implants and orthodontics

- You may contribute up to $2500 (tax exempt) annually to your FSA; HSA's have an even higher annual limit

- Funds in your HSA rollover each year and are yours to keep, although there are penalties if this money is withdrawn or used on non-medical/dental expenses

- Funds can be utilized for many over-the-counter items and even more prescription purchases 

At Commonwealth Dentistry we are here to help you get the most out of your benefits so feel free to reach out if we can be of assistance! Check out the links below for more general information or speak with your HR department for information specific to your benefits.

Forbes

US News

 

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Comments: 3
  • #1

    Online Assignment Writing Service (Monday, 30 October 2017 06:31)

    Understanding your dental advantages is key with regards to maximizing your dental scope every year. Know your advantages, yearly maximums and plan frequencies. Your dental advantages and out-of-take costs rely upon the agreement your arrangement support has set up with the dental insurance agency.

  • #2

    best essay writing service (Wednesday, 27 December 2017 04:50)

    Hello there I am so glad I found your blog page, I really found you by error, while I was searching on Bing for something else, Anyways I am here now and would just like to say thanks for a remarkable post and a all round entertaining blog

  • #3

    Professional Essay Writers (Wednesday, 20 June 2018 08:12)

    It will rely upon the dental office you work in concerning what benefits you will get. You can likewise consult with your future manager what you might want to get. There might be a few advantages you don't need and some you do that he doesn't offer.