With the holidays just around the corner, you know that the end of the year isn’t too far behind. And while this time of year is filled with ads for the best sales on electronics, appliances, and clothing to give as gifts to your loved ones, it’s also an opportune time to stock up on all of the medical supplies that your health insurance covers.
To see the most benefits from your coverage, you have to take advantage of them before the calendar turns to 2020. Let’s take a look at why now is the best time to get your supplies and what exactly those supplies could be.
Have you met your deductible?
If you’ve met your deductible for the year, now is the time to shop. Your health insurance deductible is the amount you need to pay for health and medical services before your insurer will cover anything. For instance, if you have a $1,000 deductible, you need to pay $1,000 on health and medical services before insurance will contribute a certain percentage towards your medical equipment / supplies. Once January arrives, your deductible will reset and you will need to pay that $1,000 again before your insurance covers anything.
That’s why it is important to buy the supplies you currently need and the ones you will need in the future now. If you’ve met your deductible, you’ve already put in the necessary funds for the year. Your insurance will now cover a portion of your qualified medical expenses. This means it’s time to reap the rewards of your investment and have your health insurance work for you.
What can you purchase after meeting your deductible?
The months between meeting your deductible and the end of the year is the perfect time to purchase CPAP supplies
. If you’ve been delaying buying a new mask, filters, or tubing because of the expense, you can take advantage of your health insurance coverage to pay for most of the price. Even if your CPAP parts are still in good shape, it’s a good idea to stock up on these essential supplies now. If you don’t end up meeting your deductible next year, your future self (and your wallet) will thank you for taking care of the supplies now.
Making bigger purchases can also be very beneficial at this time of year. If your insurance covers 80% of a health or medical expense after meeting your deductible, that’s a lot of money you can be saving. This might be the time for you to invest in that lift chair
you’ve been eyeing or the portable CPAP machine you will need for your vacation next year.
As you consider making these purchases before your deductible resets in 2020, be sure that you have a prescription from your doctor for your necessary supplies. You should also consult with your insurance provider if you have any questions about what they will cover. If you have an FSA through your insurance, now would also be a good time to use those funds to purchase items not covered by your health insurance, like that Cpap Sanitizing device
you’ve been thinking about. Any money in your FSA will not roll over into the next calendar year, so it is imperative to use it now before you lose it.
While your mind is filled with all of the Black Friday specials that retailers roll out, don’t forget about the end-of-year savings on your medical expenses. Contact YourCare Medical Supply today to find the items you need to remain healthy in the new year.