Ever wonder how much of your dental coverage you’re actually utilizing before they shut it off? As the year ends, many people miss out on valuable benefits simply because they have no idea how their dental insurance operates. The “Use-It-Lose-It” rule can leave you with unused benefits that vanish.
Understanding how deductibles, maximums, and timing affect your insurance can reward you and help you get the maximum value out of your coverage.
What is the ‘Use-It-Lose-It’ Rule?
The “Use-It-Lose-It” policy is the practice of most dental insurance companies, which states the benefits roll over annually. You don’t utilize your benefits towards the end of the year, and you lose them.
Most individuals think of unused benefits rollover, but that is rare. The reset comes at the end of the year, and any unused balance won’t be rolled forward to next year. To maximize your coverage, it’s important to use your benefits before the clock runs out.
Decoding Deductibles: What You Need to Know
A deductible is the amount of money you pay out-of-pocket for dental services before your insurance starts paying the bill. On most dental plans, you’ll be required to pay a deductible before insurance covers major care like fillings or crowns.
By paying your deductible upfront, you activate additional benefits, reducing your overall out-of-pocket expenses. Don’t wait too long. Make sure you have met your deductible as of the end of the year to get the most out of your plan.
The Maximum Benefit: What to Know About Your Limit of Coverage
Every dental insurance policy has a maximum benefit. The biggest check the insurer pays for covered dental care in a year. Once you’ve met this maximum, you’ll be responsible for paying any excess costs.
Knowing your maximum will help you budget for procedures like fillings, root canals, and crowns. Schedule procedures before you meet your maximum so that you won’t be paying the whole cost yourself. Utilize the unused portion of your limit before the year’s end so that you receive the maximum benefit of your plan.
Timing Is Everything: The Clock Is Ticking
Deadlines are an essential element of the “Use-It-Lose-It” rule. All your unused benefits roll over to December 31st, when the year ends. For fear of losing benefits, plan treatments like cleanings, fillings, or crowns early.
Year-end rush cannot be avoided, as everybody rushes to take advantage of benefits at the point of expiration. Avoid the year-end rush. Book your treatments in advance so that you do not lose out on the benefits you have earned.
Time is running out. Schedule an appointment today with us to maximize your benefits before they expire. Don’t let your dental insurance benefits go to waste. Under the “Use-It-Lose-It” policy, timing is critical to saving you money and getting the most out of your plan. Act now, and get the dental treatment from us that you deserve.
