Time is running out!

Don’t be alarmed but you should know that 2018 has only two months left in it.

Let that sink in.  In about 60 days, we will be in the doldrums between Christmas and New Year’s wondering why we didn’t accomplish more in the year (and also how to get rid of the 5 pounds we gained).

In Employee Benefits, the end of the year marks the time when your benefit levels reset in many plans.  A good strategy would be to plan to use as much of your 2018 benefit as you need.  Here are some considerations to help you avoid regret down the road.

Delta Dental Plan:

Both levels of coverage in this plan (Standard & Deluxe) have a maximum annual benefit amount per person ($1,000 and 2,000 respectively).  If you do not use all of the benefit available, it simply resets at the beginning of the next year.  Now would be a great time to review the amount of remaining benefit in your plan (www.deltadentalmn.org) and potentially schedule care before the end of the year.

Mayo Reimbursement Account:

In this plan, unused amounts roll over from year to year.  However, the most you can have in the account is $5,000.  If your balance at the end of the year is more than $3,850, you may not receive your full contribution amount from Mayo Clinic in January.  Check your balance on www.mayoclinichealthsolutions.com and consider scheduling services or filing claims before the end of the year.

Vision Care Plan:

Have you gotten your annual eye exam or spectacle lenses in 2018?  What about using your frames or contact lens allowance?  Contact your provider or look for one at www.avesis.com .

Flexible Spending Account:

Did you contribute to a Flexible Spending Account (FSA) in 2018?  This is a great time to check into the remaining balance in that account (www.mayoclinichealthsolutions.com) and make plans to use what you can before the end of the year.  Generally speaking, your contributions to a FSA are “use it or lose it” (although the HealthCare FSA has a small rollover allowance).  No one wants to forfeit unused funds.

Taking care of these things now will have you in the right frame of mind to eat all the fruitcake you want in December.  Enjoy!