Years ago, few people had ever heard of a flex (or cafeteria) plan.
Today, up to 25% of orthodontic patients have flex plans. Often those with traditional orthodontic insurance can also benefit from flex plans.
While there are term variations, a flex plan allows employees to dedicate a pre-determined portion of their paychecks to be set aside for the purpose of paying for health care. This includes dental and orthodontic care!
Once proof of payment is supplied to the employer, the dedicated funds are paid to the employee without federal or state tax deductions.
Important things to remember when utilizing a flex plan:
- Payment must be made, proof of payment supplied to your employer and then you will be reimbursed
- There is a cap on the yearly amount that can be set aside – amounts vary from employer to employer
- Be aware that there is an enrollment period for the following year – deadlines vary (some are as early as September)
- Because orthodontic treatment often extends into two or three calendar years, it is possible to designate flex money to cover the majority of your orthodontic treatment with pre-taxed payments
- It is fraudulent to request reimbursement for payments that have not been made
- Post-dating treatment dates is fraudulent
- We can help you plan your flex deferments
- Our patients have online access to their account information and can print proof of payment 24/7 from work or home
Let us know if we can help you with your flex plan!
