Bite on dental insurance – why you should?

You want to invest in a dental insurance but don’t know where to start. Keep reading this article.

There’s no doubt that the dental work is extremely expensive, especially when you have demand for major work done.  Unless your job covers the dental insurance, you have to buy it for yourself. However, with private purchase, you can waste a huge amount of money on dental insurance if your plan does not match your needs. Our article will help you to perform your plan and determine whether the dental insurance is appropriate for you.

Figure 1: Is the dental insurance necessary?

System Overview

Firstly, this’s a breakdown of the private dental insurance. You should base on the probable dentists (or providers) you want to choose and the likely cost you can pay:
  • If you have your want-to-choose dentist and she or he is also in the network of the insurance company, you are likely able to choose for yourself the less expensive plan.
  • If you don’t have any want-to-choose dentists, you can also choose from any in-network dentists and opt for the lowest cost plan.
  • If your current dentist is out of the network, you can also own dental insurance. However, you will spend significantly more money to seek a not-in-the-network provider, and you may not have any coming-out-ahead chances by being insured.
The monthly premiums are up to your chosen plan, insurance company, and the location. In many people’s insurance, the monthly premium is about $50 per month. This means you also spend 600$ per year on dental costs even without work done with you.

Things under consideration

Now, you may be right when thinking that many people do not make a profit with most insurance kinds. In the end, insurance companies would go bankrupt if not enough profit was made. People commonly buy insurances for protection from the worst situations. However, compared to other insurance kinds, dental insurance has some significant differences. While the potential downside of the home-owners or health insurance policies is too high for anyone to afford the not- insured risk, the potential upside and downside of dental insurance are rather low.

In another good year, you only have demand for standard exams, cleanings, X-ray. If you own dental insurance, you probably spend $200 for these services. Because they are under preventive care consideration, your dental insurance generally covers them completely. You would be likely to spend about 400$ per year on insurance premiums instead of $600 as usual by paying out of the pocket.
How about some-work-done demand? In an unlucky year, your dentist advises that you need to do something like a root canal, a couple of filling and a crown. Besides, you also pay for standard exams, cleanings, X-ray. It isn’t the insured time like your expectation. Most dental insurances have low-limitation plans of 1000$. That means if your dental bills are over $1000 in the given year, you have to pay the rest of bill.

You can negotiate to pay the lower fee as the insurance benefit, but the negotiated fees are rather high. For instance, if a regular filing fee for your dentist is $150, the negotiated one may be $100. In this case, your regular fillings and oral maintenance will use up almost all your annual limitation. Hence, the insurance can cover your large dental work partially. In addition to the annual premiums of $600, you may still pay out of your pocket around $1000 to $2000. If the annual limitation isn’t used up for the expensive procedure, you may pay numerous hundred dollars.

Figure 2: What does your dental insurance cover?
Some expensive procedures (like cosmetic dentistry and orthodontics) are rarely covered by dental insurance; even you try to debate that you need for your suffering and emotional pain reduction. If the insurance covers these procedures, the annual limitation will reduce your saving very much after your biannual exams and cleanings.

Waiting can make everything worse

You should consider again if you tend to buy dental insurance when necessary because this strategy isn’t effective and it’s not an ideal way to beat the insurance companies during the waiting period. For waiting period example, they don’t pay for any minor works (fillings) in 3 months and major works (root canals or crowns) in one year. They know that if you have demand for any work, you need the dental insurance now. You can’t figure out when you need to buy insurance and wait till 12 months to use it effectively. Trying to do that not only make you suffer from pains, discomforts or even lose your teeth but also pay the whole price for this work.

Something you should consider for group plans

Amazingly, it’s better for you to skip the dental insurance offered by your employer. The benefits from this insurance aren’t automatically ideal despite a group rate. You should evaluate the plan based on the monthly payment, co-payment, and the annual maximum. You can also calculate the benefit of each situation to decide whether you can make a profit. An ideal plan offered by your employer with $20 per month and the great annual maximum compares with an ordinary plan at $40 per month and $1000 annual maximum. Of course, the first is more beneficial and the second is wasting your money.

If you are living with a low salary and no savings, dental insurance is significant in the long term. Without one, you may pay $1600 bill for the work done. If you can’t afford, you may pay much for dental insurance, ignore your teeth or have trouble with pay off credit card. The best selection is to own insurance that will help you waste less money than paying interest on a credit card.

Parting Thoughts

If you aren’t a member of any quality group (DHMO - Dental Health Maintenance Organization or PPO – preferred provider plan), the perfect way to make a profit on dental insurance is to pay out of pocket. Taking care of your teeth regularly by flossing, brushing, using a cheap electric toothbrush, biannual professional cleanings can protect your teeth better and save much money in the long term.

Figure 3: Take care of your teeth regularly for dental health

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