Wednesday, December 10, 2014

Medical Plans 101 (for me)

The credit cards have risen - again! $383.92 to be exact.

It really pays to know whats going on with my medical and dental/vision plans. I just assumed everything will be paid for with my Dental/Vision plans - but I guess times have changed. Or at least my employers benefits have changed.

The way I understand it now is - We currently have a reimbursable plan through work that pays the first $150 and the rest at 50% for any dental or vision work. I also have funds in my HSA account that can be used for this.

So what happened?
I went to the dentist and got a bill for $241 - I used my HSA card for this. Then went to get my eye exam and glasses and the total came out to $383.92 - I used the credit card for this.

What should have happened was?
For my dental : 
  • Total : $241.00
  • Dental Insurance : $150 
  • Grand Total : $91
  • Dental Insurance pays 50% so... Charge $40.50 into credit card and $40.50 into HSA
For my vision : 
  • Total : $383.92
  • Vision Insurance (since the $150 was used already, I only get the 50% reimbursement) so charge my credit card $191.96 and charged my HSA $191.96


What needs to be done? My mini check list

  • Call my dentist and have them reimburse my HSA account
    • Charge $120.50 into both my HSA card 
    • Charge $120.50 into my credit card 
  • I will get reimbursed for $120.50 from my insurance - which clears out my credit card
  • For my vision insurance - I need to check if they can reimburse me $383.92
    • Charge $116.96 into my HSA card
    • Charge $266.96 into my credit card
  • I will get reimbursed $150 + $116.96 from my insurance

So I should get a TOTAL REIMBURSEMENT of $387.46

Have you made any mistakes or realized any mistakes you have from your Medical Plans? 

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