Use ‘Em or Lose ‘Em: 5 Year-End Health Insurance Tips

5 Year-End Health Insurance  Tips 7.28 x 4.72 in


It’s hard to believe, but 2023 is swiftly coming to an end. Are you leaving 2023 health care benefits on the table? The new year is a chance for a new start – but it may also mean a new start for your health insurance deductible!

If your health plan benefits renew in January, these five tips can help you make the most of your coverage before New Year’s:

  1. Use preventive medical care benefits before they renew in January. You may be due free coverage for an annual checkup, a well-woman visit, specific health screenings, or other forms of preventive care. With many health plans, benefits like these renew on a calendar-year basis. Schedule your preventive care now and make the most of your 2023 benefits before they renew in 2024.
  2. Work your deductible to your advantage. Have you met your 2023 deductible already? If so, it may make sense to schedule some medical services for December before your annual deductible renews in January. On the other hand, if you’re a long way from meeting your deductible, it may make more sense to schedule discretionary non-emergency care for January.
  3. Go see the dentist. Most dental insurance plans cover two cleanings and standard x-rays each year. Some may offer coverage toward other services, like cavity repair and crowns, tooth whitening, or even discounts on braces (check with your insurer). If you’ve delayed seeing the dentist in 2023, you still have time to use the benefits you’ve paid for before New Year’s.
  4. Schedule a routine eye exam. Are you overdue for a visit to your optometrist? Vision insurance plans typically cover an annual eye exam, with variable coverage for vision hardware (glasses or contacts) each year. You paid for these benefits, so make the most of your 2023 coverage before it renews in January.
  5. Fund your Health Savings Account (HSA) to the annual limit. If you have a qualifying high-deductible health plan, you still have time to fund your HSA to the 2023 limit of $3,850 for individual or $7,750 for family coverage. People age 55+ can contribute an additional $1,000 to their HSA for 2023. The money in the account is yours to keep and can be used to pay for a broad range of qualified medical expenses on a tax-free basis.