The New Year brings open enrollment periods for employees. This is the time to make changes and additions to benefits packages. It’s also a great time to think about setting up a flex spending account to cover out-of-pocket charges for medical and dental needs.
Flex Spending Account Benefits
Flex spending accounts can be a great benefit. Employees determine what their upcoming expenses are likely to be, up to $2500, and then elect to have that money deducted from their paychecks before taxes are determined. Deductions are spread out with an equal amount taken from each paycheck. Depending on the amount selected, this may actually lower the employee’s tax burden. The flex spending account can be used to cover things like office and prescription copays as well as uncovered dental expenses.
Dental Expenses
The cost of dental care is often a barrier for not pursuing needed or wanted dental procedures. Often, dentists require full payment for services at the time they are performed. This is where a flex spending account comes in handy because the total election is available day one.
A flex spending account can be used to pay for unexpected dental expenses like emergency root canals and crowns, or it can be used to help cover the cost of using Invisalign, which can be used to correct crooked or unevenly spaced teeth. Even if dental insurance plan does not specifically cover Invisalign, employees can use their flex spending benefits to mitigate the cost, which makes getting that perfect smile a little bit easier. Since the money is available on the first day of the plan, employees don’t need to wait to schedule their appointment.
Open a FSA
With the cost of uncovered medical and dental services growing, you might consider adding a flex spending account to your benefits elections. Flex spending accounts will help ensure that money for uncovered expenses is there when you need it.
Contact your Human Resources representatives to open a flex spending account and call Bolivar Family Dental to schedule a free consultation with Dr. Paul Gonzales for Invisalign! (417) 777-8654
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