As the end of the year approaches, you’ve probably got a schedule full of plans. But if your upper endoscopy screening isn’t one of them, you could be wasting your hard-earned dollars. Most insurance policies are based on a calendar year, which means you’ve only got until the end of December to take advantage of your benefits. And if you’ve already met your calendar-year deductible, your insurance company could pick up the tab for most of your medical expenses.
Your deductible is a set amount of money you are required to pay before your insurance policy can be used. This amount starts at zero on the first of January, and all medical expenses you acquire throughout the year will be applied towards your deductible until it has been met. At this point, you can start tapping into some of those major savings offered by your insurance company. Surgeries, screening procedures, and office visits can be provided at very little or no cost to you.
If your doctor has ordered an upper endoscopy screening and you’ve been concerned about the cost, this is a great time to check and see where you are with your deductible. If you’ve already met your deductible for the year, or if you’re close to meeting it, your upper endoscopy could be much more affordable than you’d anticipated.
This is also a great opportunity to use up any extra funds you may have in your flexible spending account (FSA). These pre-tax dollars can be applied toward your eligible medical expenses, which can further cut down on your out-of-pocket cost. But remember, unused funds expire at the end of your benefit period, so it’s important to use them before they’re gone.
Taking care of necessary medical procedures before the year-end is a smart way to maximize your insurance benefits, but don’t waste any time in getting around to it. Most medical facilities experience a high demand for procedures during this time, so the sooner you schedule, the likelier you are to get an appointment. If you wait too long, your appointment could be pushed into next year, and you’ll have to begin paying towards your deductible again.