The most important thing about dental insurance is knowing that the insurance company will only do exactly what is written in the contract. No more or less than that. In almost all cases, this results in the patient having to pay out-of-pocket expenses. So how is it possible to afford dental insurance while still having to pay out-of-pocket expenses? Third party financing and payment plan options are available to help you manage out-of-pocket expenses at the dentist. Dental insurance covers part of the cost of services rendered, not all of it. Therefore you need to have enough funds available to cover the remainder of costs.
Here are some ways you can accomplish dental insurance affordability:
Dental Financing
Finance companies such as Care Credit and Wells Fargo have since realized that dental patients are consumers too, and because of high costs associated with some dental treatment procedures, these companies have connected with medical facilities, dentists included, to provide financing options (loans) to patients who can not afford out-of-pocket expenses. These companies help patients who do and do not have dental insurance, as long as they qualify with their credit score. This option is great for those who are on a budget, and can not afford one large payment for services rendered. Generally, your dentist’s staff can apply on your behalf via the internet, and results are yielded within minutes. If you are approved, a dental care plan can be established and treatment can begin.
Flexible Spending Accounts
Not all, but some employers offer programs to employees which a portion of the employee’s paycheck goes to a special flexible spending account before taxes are taken out. The employee benefits from less taxation, and can used the funds for dental care, as well as other options available within the employee’s dental insurance plan. To find out if your employer offers a FSA option, you can either request a packet of information, or the employer will have the answer.
Discount Dental Plans
You can choose a discount dental plan as an alternative to dental insurance. They are generally affordable, easy to use and are available to individuals, families and groups. Plan members receive a list of participating dental care providers who are networking together to provide dental services at a discounted fee. For example, agreeing to pay in-full at the time of services rendered can reduce your out-of-pocket expenses. These plans do not have annual limits, health restrictions or extensive paperwork to fill out. Saving begins as soon as you sign up for a discount dental plan (even with cosmetic, orthodontic or periodontist specialists).
Additional Savings Tips
If you’re receiving dental insurance through your employer, find out what all of your options are before agreeing to anything. Some medical insurance plans include dental, while other’s do not. Some plans offer better rates if you only receive dental insurance. Oddly, two employees from separate companies can have the same dental insurance, yet they may have unique coverage to each other. This is because the coverage you get is based on the policy your employer buys with the company. Your employer is the one who decides what type of coverage will be offered to the employees by the insurance company, not the other way around.
If you do receive dental insurance coverage from your employer it’s important that you thoroughly read through the contract, learn what is covered and what isn’t before needing the treatment. Another thing to keep in mind is that you do not have to accept insurance offered by your employer. If you can find better dental insurance that is more affordable and is geared more towards covering your needs, then electing not to get the dental insurance through your employer may be the wisest choice. This is not to say you can not get medical and optical insurance if the coverage is right and costs are affordable. Many times, employers will allow you to choose which ones you would like.
