November is behind us now and we are quickly approaching the end of the year. This means things like making your New Year’s Eve plans, writing down resolutions, and determining what to do with the money in your flexible spending account (FSA) or Health Saving account (HSA). Okay, you might not have considered that third one, but it is really important!
If you have an FSA/HSA, you’ve been putting money into it all year long. These accounts are programs that enable you to get the most bang for your buck, since the funds are deposited pre-tax. The caveat, though, is that if you do not use the money by the end of the year, you lose whatever is left in the account. It is in your best interest to use it.
Now, you cannot take your FSA/HSA money and go buy a new iPad or anything like that! The funds are only to be used for approved medical expenses. If you have been prescribed orthotics, and it is time to replace your old ones with a new pair, you can likely use your FSA/HSA, money to do so. (Depending on your insurance plan, you may not be eligible if you’ve already gotten orthotics in the calendar year. If you aren’t sure, contact your insurance provider to find out.)
After checking with your insurance provider, contact our Indianapolis office and request an appointment before the end of the year. We will get you set up with a new pair of orthotics if you need them.
Beyond FSA/HSA considerations, the end of the year is also important if you have maxed your out-of-pocket contributions for your insurance plan. Previously, we wouldn’t have recommended factoring in financial considerations for surgical procedures, but the current insurance landscape has led to a different conversation.
That doesn’t mean you should have surgery for the sake of having a surgery! We would never endorse that. What we are saying is that if you need a surgical procedure, have maxed your out-of-pocket contributions on a high-deductible insurance plan, and we’ve recommended it, you should consider having it done before the end of the year.
One more seasonal consideration is our Holiday Special on orthotic devices. From now until January 31, 2017 you can have your current orthotics refurbished for $100 (usually costs $125) or pick up a new pair of orthotics (duplicates of your original orthotics) for $300.
Our Holiday Special offers are only available to you if insurance is NOT covering these items. Insurance will not be filed for this offer, and you must pay in full with cash, check, or credit card at the time you place the order. If you have any questions about this special, using an FSA/HSA for orthotic devices, or scheduling a surgical procedure before the end of the year, please give our office a call at (317) 545-0505.