The Windsor Journal

The holidays are around the corner and our lives are typically busy this time of year. I try to take some time and reflect on the year and be thankful for all we have. Our recent weather and loss of power have given us more to appreciate.

Many patients toward the end of the year also look back and want to know if there is still time to resolve some of their dental or health issues before years’ end. Most of us have also been and continue to be financially cautious. With that in mind, we want every patient to take maximum advantage of their remaining dental insurance benefits. This benefit typically expires at the end of the year, so ‘if you don’t use it, you lose it.’

Each fall we mention this to our patients and review their dental needs. We then compare this to the remaining dental benefit and have patients schedule the needed work now so it can be completed before years’ end.

More recently, many have also asked about their future dental needs for the upcoming year. This is in response to putting ‘pretax’ dollars in a HSA (Healthcare Savings Account). These accounts are funded in anticipation of needed future dental work. In other words, patients with HSAs can ‘preload’ a spending account in 2011 to be used in 2012. However, the amount to be depositied is estimated based on what the dental/medical needs are. Any leftover savings cannot be carried forward to future years.

For example, if you know $2000 of work will be needed in 2012, you may elect to put that money (withdrawn ‘pretax’ from your employer) in your HSA in 2011 and have a significant savings upon completing the work next year. It’s a great way to plan ahead and save some money at the same time.

In summary, time is winding down in 2011 so one should consider scheduling dental work in hopes of completing it by years’ end and taking full advantage of remaining insurance dollars. Alternatively, contributing to an HSA now for dental treatment to be completed in 2012 can be cost effective.

Enjoy your holidays!!!

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