Disclaimer: This information is provided for general guidance only and is not a substitute for consulting your insurance policy documents, your insurance provider, or a tax professional regarding your FSA/HSA accounts. Insurance and government program rules are specific to each individual’s plan and jurisdiction. Please contact your healthcare provider, insurance carrier, or Finnegan Health Services directly to verify your specific coverage, deductible status, and any year-end deadlines.
It’s already the end of October, and as the year races toward the holidays, it’s easy to overlook one critical item: maximizing your annual health insurance benefits and preparing for the new year.
For many, this period between now and December 31st is the last chance to utilize insurance coverage, Flexible Spending Account (FSA) dollars, and meet deductibles. If you rely on essential medical supplies, now is the time to stock up and plan ahead.
At Finnegan Health Services, we want to help you make the most of your coverage and ensure you start the new year prepared.
1. Maximize Your Current Insurance Benefits
Many health insurance plans, including Medicare and private carriers, reset on January 1st. This often means two things for you:
- You May Have Met Your Deductible: If you’ve had significant health expenses this year, you may have already met your annual deductible. This means that any approved medical supplies you order now could be covered at a much higher percentage (or even 100%) than they would be if you waited until next year when your deductible resets.
- Use It or Lose It (Annual Limits): Some insurance plans or secondary benefits have annual maximums for specific categories of supplies. Check your policy to see if you have an annual cap you need to utilize before it expires.
✅ Action Step: Contact your insurance provider (or Finnegan Health Services) to confirm your remaining deductible balance and any category spending limits for 2024.
2. Don’t Forget Your FSA & HSA Funds
If you contribute to a Flexible Spending Account (FSA) or a Health Savings Account (HSA), the end of the year is crucial:
- FSA Deadline Alert: Most FSA funds operate on a strict “use it or lose it” basis. Unless your plan offers a grace period or a small rollover amount, any money left in your FSA account on December 31st will be forfeited. Medical supplies are almost always a qualified expense.
- HSA Planning: While HSA funds roll over, ordering supplies now allows you to replenish your stock using pre-tax funds.
✅ Action Step: Review your FSA balance immediately. Order a three-month stock of essential supplies like Diabetic Supplies, Incontinence Supplies, or Wound Care products before the year-end deadline.
3. Prepare for the New Year: Renewals and Prescriptions
January 1st marks the start of a new benefit year, but it can also bring administrative delays. Get ahead of the rush now:
| New Year Preparation Task | Why It Matters |
| Check Supply Inventory | Don’t rely on getting a new order in the first week of January. Order enough supplies now to last through the first few weeks of the new year (i.e., until mid-January). |
| Confirm Prior Authorization | If your insurance requires Prior Authorization (PA) for certain high-cost items (like Continuous Glucose Monitors), ensure your PA is valid for 2025 or that the renewal process is already underway. |
| Renew Prescriptions | Most prescriptions for recurring supplies are only good for 12 months. Call your doctor now to get a fresh prescription for all your medical supplies to avoid delays in January. |
| Verify Enrollment | If you have Medicare or Medicaid, verify that your enrollment in your current plan is set to continue or if you need to re-enroll during the annual enrollment period. |
Finnegan Health Services: Simplifying Your Year-End Rush
Dealing with insurance and paperwork during the busy holiday season is stressful enough. Let Finnegan Health Services handle the heavy lifting.
- We Handle the Paperwork: We work with Medicare, Medicaid, and top insurance carriers to process your claims efficiently.
- Fast, Discreet Delivery: Ensure your products arrive safely before the deadline with our fast, reliable shipping.
- Stock Up Now: Whether you need Urinary Supplies, nutritional items, or bath safety equipment, don’t miss your window to maximize your 2024 benefits.
Start the new year right by planning today.
Ready to order your last supplies of the year? Contact Finnegan Health Services or visit our products page to secure your order now.
