Don’t forget dental care for last-minute HSA funds

By the time December arrives, families all over the country are juggling full calendars and stretched budgets. Between holiday travel, gifts, school events and year-end bills, expenses seem to pile up more quickly during the holidays than at any other time of the year.

Like a domino effect, each year at this time, I see patients opt to postpone their much-needed dental or orthodontic care for the new year for the sake of their pocketbooks, overlooking one of the most practical financial tools at their disposal: their Health Savings Account, more commonly known as an HSA.

Today, there are nearly 39 million HSA accounts covering more than 59 million Americans, most of whom are tied to employer-sponsored health plans. As health care costs rise, more businesses are offering HSAs as a way to give employees flexibility and control. Unlike FSA dollars, people don’t lose these benefits when they transition to a different company or role, and HSAs roll over to the next year instead of forfeiting unused benefits.

However, despite its rising popularity, awareness about what HSA benefits include is surprisingly low. Many families simply do not realize that dental and orthodontic care for both adults and children are HSA-eligible expenses. As such, millions of tax-free dollars go unused at a time when every bit of financial relief makes a difference.

HSA funds can be used for both preventative and restorative dental services, including for services such as cleanings, exams, X-rays, fillings, crowns, bridges, dentures, implants, sealants, root canals, extractions and more. Orthodontic services such as braces, Invisalign, retainers and related treatments are also eligible, as well as many other non-cosmetic services. What’s more, families can use their HSA dollars to cover upfront costs, monthly payment plans and insurance deductibles, preventing them from having to dip into savings or rely on credit at the end of the year.

At a time when more and more parents are prioritizing orthodontic evaluations for their children
early on, HSA funds are especially important. With them, parents have the option of scheduling
cleanings before problems can escalate or investing in preventative appliances like night guards,
lowering the risk of cavities or misalignment as children grow. HSAs make proactive decisions like
these more affordable, realistic and sustainable.

December is a great time to take action. People don’t have to wait to use their HSA funds to schedule cleanings, fillings, crowns or orthodontic consultations to maximize the benefits before new deductibles take effect in January. Addressing issues now not only helps keep families from paying for more expensive treatments later, but can help them make full use of their insurance annual maximums as well.

Using HSA funds is a straightforward process. Families can pay directly with their HSA debit card, write a check or pay out of pocket and request reimbursement. Many providers offer electronic reimbursement, too, making it easier to access the funds quickly.

During the holiday season when financial stress is high, HSAs give families the opportunity to reduce their tax burden and keep their budgets intact using money that has already been set aside. With better awareness and a little planning, families can turn an account that’s often ignored into one of the smartest tools in their year-end financial strategy.

Andre Baptiste is an Orlando and Apopka-based orthodontist at Baptiste Orthodontics.