Flex your Flex Spending Plan for Dental Work

If you have a health care Flexible Spending Account (FSA) to cover copayments, deductibles or other costs, now is the time to use it. Not only can an FSA reduce your taxes, but it may also cover procedures not usually covered by traditional insurance.

What is an FSA?

A Flexible Spending Account is an account that sets aside funds that you use to pay for certain out-of-pocket health care costs. You don’t pay taxes on this money. This means savings go back into your pockets. In 2019 FSA contribution level maximum is $2,700, according to the IRS. Some employers may make contributions to your FSA but aren’t required to.

Use it or Lose it

A flexible spending account is a \”use it or lose it\” type of benefit. If you don’t spend down your money by a specified date during a calendar year, you lose those funds. However, some plans may allow some funds to carry over into the new year. Most frequently this extension may look like this: It may provide a \”grace period\” of up to 2 ½ extra months to use the money in your FSA, or it may allow you to carry over up to $500 per year to use in the following year.

Using your FSA for Dental procedures

Eligible expenses include regular cleanings and checkups, as well as a huge slate of potential dental procedures, according to the IRS. While some dental services and procedures may require co-insurance or a co-payment. Anything related to cosmetic dentistry is generally not covered by an FSA.

However, these procedures are commonly covered:

  • Bonding
  • Bridgework
  • Crowns/Caps
  • Dentures
  • Extractions
  • Fillings
  • Gum Surgery
  • Root Canals
  • Sealants

FSA plans can differ depending on your employer, so if you are unclear about whether or not a procedure is covered, it may help to contact HR and carefully go over your policy.

So, with all that said, now is the time to schedule your procedure before 2019 runs out.