Maximizing Your 2021 Reimbursement Benefits with United Healthcare
The start of a new year means new resolutions and new goals. It also means that new insurance plans begin and that it’s time to take advantage of your reimbursement benefits. United Healthcare offers an array of benefits that can help you save money on your healthcare expenses. In this article, we’ll explore ways in which you can maximize your 2021 reimbursement benefits with United Healthcare.
Understanding Your Benefits
The first step in maximizing your reimbursement benefits with United Healthcare is to understand what they are and how they work. United Healthcare offers several types of benefits, including a health savings account (HSA), flexible spending account (FSA), and health reimbursement account (HRA). Each of these types of accounts has its own rules and regulations. However, they all have one thing in common: they allow you to save money on your healthcare expenses.
Maximizing Your HSA Benefits
If you have an HSA, one way to maximize your reimbursement benefits is to contribute the maximum amount allowed by the IRS. This year, the contribution limit for individuals is $3,600, and the limit for families is $7,200. Additionally, you can contribute an extra $1,000 if you are over the age of 55. The money you contribute to your HSA is tax-deductible, which means it will reduce your taxable income. You can use the funds in your HSA to pay for qualified medical expenses, such as deductibles, copayments, and prescriptions.
Maximizing Your FSA Benefits
If you have an FSA, you can contribute up to $2,750 tax-free this year. Unlike an HSA, the money in an FSA must be used by the end of the plan year, or you lose it. To maximize your reimbursement benefits with an FSA, plan your medical expenses accordingly. Make sure to estimate your medical expenses for the year and contribute that amount to your FSA. You can use the funds in your FSA to pay for qualified medical expenses, such as deductibles, copayments, and prescriptions.
Maximizing Your HRA Benefits
If you have an HRA, your employer funds it, and you can’t contribute to it yourself. The funds in an HRA roll over from year to year and can be used to pay for qualified medical expenses. To maximize your reimbursement benefits with an HRA, make sure to understand what your plan covers. Typically, HRAs cover deductibles, copayments, and coinsurance. Make sure to submit your claims promptly to avoid any delays in reimbursement.
Maximizing Your Telehealth Benefits
United Healthcare offers telehealth benefits, which allow you to see a doctor virtually. Telehealth visits are covered by most United Healthcare plans, and copayments and deductibles may be waived. By utilizing telehealth visits, you can save money on your healthcare expenses and avoid exposure to COVID-19.
Conclusion
In conclusion, maximizing your reimbursement benefits with United Healthcare is a great way to save money on your healthcare expenses. By understanding your benefits, contributing the maximum allowed to your HSA and FSA, and utilizing telehealth visits, you can make the most of your 2021 benefits. Don’t forget to submit your claims promptly and keep track of your expenses. Happy saving!
