As 2012 winds down, it is a good time to review your finances. One big piece of that is your health insurance. Some things to consider:
- Did you meet your deductible?
If you did and it resets January 1st, now is the time to take care of of medical tests that you may have been putting off. It will cost you less out of pocket if you do it now.
- Does your deductible roll over?
Sometimes insurers let you apply money spent in the last few months of the year toward your next year’s deductible. Ask about it. Planning elective medical procedures and being smart about it financially is the way to go!
- Did you use your FSA funds?
If you are lucky enough to have a Flexible Spending Account (FSA) through your employer, check with HR to see if there are unspent funds. If so, use them – they usually do not roll over.
- Are there coverage changes?
Watch the mail. Now is the time insurers have open enrollment and change coverage and premiums for the new year.