Flexible Spending Accounts Being Determined Now Important Coverage Tips Provided by Dr. Sandy T. Feldman of Clearview Eye & Laser Medical Center

San Diego, CA (PRWEB) November 03, 2011

According to many reports, the time of year is here when employees elect to put money into their employer sponsored flexible spending accounts [FSA?s] for 2012 or decide how to use the remaining money on in 2011. Today, about 85% of large employers have FSA?s for their employees. President Obama?s health care reform has made some important changes to 2013 FSA plans allowable expenses and the amount individuals can contribute.

In anticipation of meeting the October 31 signup deadline for many employer sponsored plans beginning January 1st the following year, patients go to their doctors to determine whether they might be good candidates for contact lenses, LASIK or dental procedures. Employees want to know before they elect to have money taken pretax out of their paychecks they can use for medical expenses. The use of FSA money enables savings of between 20-50% by paying with pretax dollars.

?Some major changes were made to the plans as part of health care reform? says Dr. Sandy T. Feldman of ClearView Eye & Laser Medical Center. The doctor states that ?In 2012, employees can contribute up to $ 5,000.00 to their employer sponsored plans. Beginning in 2013, the limit will be lowered to $ 2500.00 so people should be looking to take advantage of the benefit offered to them in 2012.1,2?

To obtain your maximal benefit, it is crucial to understand and ask the employer about these new rules, Dr. Feldman shares these helpful and important tips: Obtain a doctor?s prescription for non-prescription otherwise known as over the counter drugs. Submit a doctor?s prescription along with a receipt for this medication in order to be reimbursed.3 There has been an expansion in the rules so adult children can be considered dependant if less than 27 years of age, even if living independently. Many people fail to completely use all of their contribution and end up losing about $ 100.00.4 Employees should check with their employers of any remaining amounts and determine the end date for usage. They should not wait until the last minute. Some plans have a grace period extending usage from the prior year now to March 31st.

Overall, employees should be aware of their benefits and the timelines for electing to contribute and use their FSA benefits. Enroll in FSA?s now for maximal contribution especially if contemplating LASIK surgery.

1.????http://www.irs.gov/govt/fslg/article/0,,id=112720,00.html

2.????http://www.bankrate.com/finance/insurance/how-health-care-reform-changes-fsas-hsas-1.aspx

3.????http://www.irs.gov/irs/article/0,,id=227301,00.html

4.????http://www.flexiblespendingaccountsonline.com/flex-account.php

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Related Dental Insurance Press Releases

NADP, DDPA Give States Important New Tool to Help Design Insurance Exchanges

Oak Brook, IL (PRWEB) November 10, 2011

Policymakers and work groups charged with creating state insurance exchanges have been given a new tool to help them increase access to dental benefits. The National Association of Dental Plans (NADP) and the Delta Dental Plans Association (DDPA) have issued a white paper entitled, ?Offering Dental Benefits in Health Exchanges: A Roadmap for Federal and State Policymakers,? aimed at helping policymakers navigate issues unique to dental benefits.

?While there is disagreement about many of the details of health care reform, creating places where consumers can comparison shop for their health insurance is one idea with bipartisan support,? said Kim Volk, president and CEO of DDPA. ?It makes sense that as policymakers work to establish exchanges, medical coverage has been the primary focus,? said Volk. ?But, it?s important for states to address dental benefits as they craft exchange rules and shopping systems, otherwise people could end up with fewer choices, not more, or they may be forced to find a new dentist.?

The Affordable Care Act (ACA) includes ?pediatric oral services? as part of the federally mandated Essential Health Benefits Program (EHBP) to be offered in the small group and individual markets both inside and outside exchanges. The law also ensures that consumers will be able to shop for their children?s dental benefits from stand-alone dental benefits providers. ?The vast majority of people with dental coverage today purchase those benefits separately from their medical benefits,? said Evelyn Ireland, NADP?s executive director. ?The ACA allows consumers purchasing through Exchanges the option of purchasing separate dental coverage. It?s important that state exchanges plan for the offer of dental benefits from the outset, otherwise consumer choice will be limited and the very objective exchange planners sought to achieve will be thwarted,? said Ireland.

The timely paper examines issues relevant to the offering of separate dental policies by exchanges and highlights the fact that millions of individual and small-group consumers now have, and will maintain, dental coverage outside of the exchanges. Therefore, it will be critical for policymakers to follow the path outlined in the white paper and properly define state exchange processes to allow these consumers to keep their dental coverage and the dentists they now use for themselves and their children.

In addition, the white paper recommends processes for exchanges 1) to verify and accept current dental coverage and 2) to offer dental coverage to those consumers that don?t have it today. It provides background on the current dental marketplace and offers common-sense solutions for state and federal policymakers engaged in exchange design.

The white paper is available free of charge at http://www.nadp.org or http://www.deltadental.com/WhitePaperExecutiveSummary.pdf

About Delta Dental Plans Association

The not-for-profit Delta Dental Plans Association (http://www.deltadental.com) represents 39 independent Delta Dental member companies operating in all 50 states, the District of Columbia and Puerto Rico. As the nation?s largest dental benefits provider, Delta Dental serves more than 56 million Americans in more than 95,000 employee groups. In 2010, Delta Dental member companies donated more than $ 48 million throughout the country to support programs that focus on preventing dental disease, expanding access to care, advancing dental science and understanding the connections between oral and overall health.

National Association of Dental Plans (NADP), a Texas nonprofit corporation with headquarters in Dallas, Texas, is the ?representative and recognized resource of the dental benefits industry.? NADP is the only national trade organization that includes the full spectrum of dental benefits companies operating in the United States. NADP?s members provide Dental HMO, Dental PPO, Dental Indemnity and Discount Dental products to 143 million Americans, approximately 90% of all Americans with dental benefits.

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