Happy New Year! Time to Utilize Your Updated Insurance Benefits

The start of a new year is a time of celebration, resolutions, and fresh starts. But it’s also a crucial period for managing your insurance benefits. Whether your health insurance has renewed or you’ve switched to a new plan, now is the perfect opportunity to ensure you’re maximizing your coverage. Here’s a comprehensive guide to help you make the most of your updated insurance benefits as you step into the new year.

Review Your New Insurance Plan Details

Understand Your Coverage

Each year, insurance plans can change. Premiums, deductibles, co-pays, and covered services may have been adjusted. Take the time to thoroughly review the summary of benefits and coverage provided by your insurer. Key areas to focus on include:

• Annual Deductible: The amount you must pay out-of-pocket before your insurance starts covering certain services.
• Out-of-Pocket Maximum: The maximum amount you will pay for covered services within a year.
• Covered Services: Check if routine visits, medications, and specialist appointments remain covered as they were before.

Confirm Provider Networks

Ensure that your preferred doctors, specialists, and healthcare providers are still within your insurance network. Out-of-network visits can result in significantly higher costs.

Schedule Preventive Care Appointments Early

Prioritize Health Screenings

Most health insurance plans cover preventive services, such as annual physicals, vaccinations, and routine screenings, at no additional cost to you. Early in the year, schedules are often more open at clinics and doctor’s offices, making it a great time to:

• Book your annual physical exam.
• Schedule age-appropriate screenings like mammograms or colonoscopies.
• Update vaccinations, including flu or COVID-19 boosters.

Avoid the Mid-Year Rush

By booking preventive care early, you can avoid the scheduling crunch that often occurs mid-year when calendars fill up and appointment slots become scarce.

Take Advantage of Your Flexible Spending Account (FSA) or Health Savings Account (HSA)

Know Your Contribution Limits

FSAs and HSAs are great tools for managing healthcare expenses using pre-tax dollars. However, these accounts have contribution limits. For 2024, the contribution limits have likely changed, so it’s important to:

• Confirm your maximum allowable contribution.
• Adjust your payroll contributions if necessary.

Plan for Eligible Expenses

Make a list of qualified medical expenses you anticipate for the year, such as:

• Co-pays for doctor visits.
• Prescription medications.
• Medical equipment (e.g., eyeglasses or braces).

An FSA may have a “use-it-or-lose-it” policy, meaning unused funds might expire at the end of the year. By planning ahead, you can ensure you spend these funds wisely.

Refill Prescriptions and Explore Mail-Order Options

Revisit Prescription Costs

If your plan’s drug formulary has changed, certain medications may be more expensive or may require pre-authorization. Here’s how to stay ahead:

• Review your updated prescription drug coverage.
• Speak with your doctor about generic alternatives if costs have increased.

Utilize Mail-Order Services

Many insurance plans offer discounts for mail-order prescriptions, allowing you to receive a 90-day supply at a lower cost. Mail-order services can also save you time and ensure you have a consistent supply of necessary medications.

Schedule Dental and Vision Appointments

Dental Benefits

Dental insurance often covers preventive services like cleanings and X-rays at no or low cost. If you have major dental work planned, such as crowns or root canals, review your annual maximum and plan your visits accordingly to:

• Make the most of covered cleanings.
• Spread larger procedures across multiple coverage years if needed.

Vision Benefits

If you have vision insurance, make sure to use your benefits towards eye care services:

• Eye exams.
• Prescription glasses or contact lenses.
• Discounts on corrective surgery, if applicable.

Since these benefits often reset at the start of a new year, it’s a smart move to schedule appointments early.

Evaluate Your Deductibles and Out-of-Pocket Expenses

Plan for Large Expenses

If you anticipate costly procedures, surgeries, or treatments, knowing your deductible status is key. By planning elective procedures early in the year:

• You can meet your deductible sooner.
• Subsequent medical expenses for the rest of the year will have lower out-of-pocket costs.

Track Out-of-Pocket Maximums

If you reached your out-of-pocket maximum last year, you likely enjoyed fully covered services for the remainder of the year. Remember that your deductible and maximum reset annually, so plan accordingly.

Update Your Insurance Information with Providers

Notify Your Doctors and Pharmacies

If you changed insurance plans or insurers, make sure your healthcare providers and pharmacies have your updated information to prevent billing issues. You should:

• Bring a copy of your new insurance card to your next appointment.
• Update your records at pharmacies and hospitals.

Keeping this information current can prevent unnecessary delays and claim denials.

Maximize Wellness Programs and Incentives

Explore Wellness Perks

Many insurance plans offer wellness incentives, such as reimbursements for gym memberships, rewards for completing health assessments, or discounts on fitness trackers. Start the year by:

• Logging into your insurer’s online portal to explore wellness offerings.
• Participating in health challenges or incentive programs.

Mental Health Resources

Insurance plans often include mental health support, such as free counseling sessions or access to telehealth therapists. Prioritize your mental well-being by taking advantage of these services.

Plan for Emergency Care

Know Your Options

Emergencies can happen at any time, and knowing where to go for urgent care versus emergency room visits can save you time and money. Review your insurance plan’s guidance for:

• In-network urgent care clinics.
• Telehealth services for non-life-threatening issues.

Emergency Preparedness

Ensure you have your insurance information saved on your phone and keep physical copies accessible in case of emergencies. Having this information readily available can streamline your care during critical moments.

Stay Informed About Changes Throughout the Year

Sign Up for Notifications

Insurance providers often send important updates throughout the year. To stay informed, you can:

• Subscribe to email alerts from your insurer.
• Check the provider’s website or app for policy updates.

Legislative Changes

Health policies can change due to new laws or regulations. Staying aware of changes can help you prepare for any adjustments in your benefits or premiums.

Conclusion

The new year presents a valuable opportunity to reassess and optimize your insurance benefits. By reviewing your plan details, scheduling preventive care, managing your FSA or HSA, and staying informed, you can make smart financial and health-related decisions. Taking proactive steps now will help you get the most out of your coverage and ensure you stay on top of your health goals in the coming year. Cheers to a healthy, informed, and financially secure year ahead!

Need Optometry Services Near You?

Here at Tangi Vision Outlet, we’re passionate about helping you see the world clearly and comfortably! For over 10 years, our family-owned business in Hammond, Louisiana, led by Dr. Stephen E. Warren, has been dedicated to providing top-notch optometry services and custom eyewear tailored to your needs. With our cost-effective solutions, unmatched customer service, and a one-year, no-hassle scratch warranty on all products, we’re here to make your experience stress-free and satisfying. Walk in any day, even Saturdays, to see a doctor on staff—no appointment necessary. Reach out to us today and let us help you find your perfect pair of glasses!