Here’s an easy new years resolution, make the most out of your health insurance extras! Before they’re gone forever.
As the saying goes, new year, new you. For many, that means hitting those long forgotten fitness goals or maybe trying a new hobby.
In my case, it's about not letting the smaller things fall by the wayside as the year goes on, especially when it comes to things I've already paid for, like my health insurance extras.
If you're like me, consider this your friendly reminder to make the most of your extras before they reset. January 1st is the magic date for many health funds, but for others, it can be in the middle of the year.
Here's what you need to know so you don't make the same mistake in 2025!
The time is now (or might be)
When your health insurance policy begins, you'll typically have a set amount of time to use your extras benefits before they reset. Most benefits don't roll over, so if you don't use them, they're generally gone for good.
But not to worry, here's your chance to plan. Extras benefits can reset on these key dates depending on your health fund:
- January 1st
- July 1st
- The anniversary of your policy start date
If you're still unsure, you can always double check by contacting your provider.
Know your limits
As you plan your appointments, remember these key details about our extras cover in mind:
- Waiting periods: If you've recently started a new policy and your reset date is January 1st, be aware that waiting periods may still apply. This can affect your eligibility to make claims early in the year.
- Claim time limit: Ensure you submit claims within the required timeframe after receiving services. Missing this window means missing out on reimbursement, which is typically possible up to 2 years post-service.
- Daily claim limit: Some health funds allow only one extras claim per day. While you can schedule multiple appointments, you might need to stagger your claims.
- Combined limits vs sublimits: Check your policy's yearly and specific treatment limits. For instance,
Make the most of what you got
No one wants to pay more in premiums than they actually get back in services, especially with how expensive health insurance can be nowadays.
If you've waited too late to use your extras in the past or are cutting it close this year, don't fret. Theirs an educational silver lining here.
Take this experience from Nicole, a Finder crew member, who started planning well ahead after missing out on her extras a few years ago.
Her advice? Be proactive and plan ahead before it's too late next time.
"I found that my go-to health providers are always busiest in the two months leading up to the time that extras benefits reset (Nov-Dec and May-Jun). So I don't miss out on making my claims before my extras reset, I make sure to plan ahead and book my appointments outside of these busy periods, particularly for my optom and dental visits. I find it easy to avoid these busy periods by pre-booking my next appointment in advance when I go for my check-up."
Final Call
If you're one of the many health fund customers with a reset date of January 1st, start the year by checking your policy and setting a plan to make the most of your healthcare benefits.
If it's a little sooner, then maybe it's time to set those appointments before it's too late.
But if that doesn't work out, well, there's always next year.
Compare and find the health insurance with Finder today.
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