The end of the year often comes around faster than we expect, and as we get swept up in the holiday festivities, it’s easy to overlook important health and financial benefits. Many of us feel overwhelmed with the hustle and bustle, not to mention unsure about the steps we need to take regarding our benefits. This friendly reminder nudges you to act now, ensuring you don’t miss out on valuable coverage and savings before the year is up.

Check Your Deductible Status

A good starting point is to assess your current deductible status. If you’ve already met your health insurance deductible for the year, now is an opportune time to schedule any pending check-ups, necessary procedures, or follow-up appointments before it resets at the start of the new year.

Use Your Flexible Spending Account Funds

With Flexible Spending Accounts (FSAs), it's a case of "use it or lose it" by December 31st, unless your plan includes a rollover or grace period. Check your FSA balance and spend down any remaining funds on eligible expenses so nothing goes to waste.

Refill Prescriptions

If you’ve maxed out your deductible or out-of-pocket expenses, consider refilling recurring prescriptions early. Depending on your plan, this could translate into significant out-of-pocket savings.

Book Dental or Vision Appointments

Got any leftover dental or vision benefits? Utilize them by booking those last-minute appointments. If appointment slots are full, ask to be placed on cancellation lists—there’s always a chance slots will open up before year-end.

Max Out Health Savings Account Contributions

Health Savings Accounts (HSAs) are another area where you can save big. You can contribute to your HSA until the end of the year. This account offers a triple tax advantage, so consider contributing as much as you can within the contribution limits.

Contact Your Plan Administrator or Benefits Advisor

If you’re feeling confused about your benefits or coverage status, don’t hesitate to reach out to your plan administrator or a benefits advisor. They’re there to help you understand what’s left for you to take advantage of and how you can make the most of your benefits.

Taking a few small steps now can lead to significant savings and peace of mind come January 1st. Remember, December 31st is the cutoff for most benefits, so take control of your well-being and financial security by reviewing your current status. And if you need any assistance, reaching out to a professional could be your best move. Start planning today!