Limitations of Dental Insurance
It’s important to remember that insurance is a business whose primary motivation is to make money. Insurance companies make their money by taking in more in premiums than they pay out in benefits. To skew the balance in favor of their income, insurance companies put many limits on the benefits they pay out.
This is even more true of dental insurance than for medical insurance. Often, dental insurance comes with very strict limits about what it will and won’t pay for. This may include limitations on what types of procedures it will cover (even down to the materials your restorations can be made of), when and how often you particular procedures can be covered, and how much insurance will pay over the course of a year. Dental insurance may also limit which dentist a person can see if they want to take advantage of their benefits.
When you add in these limitations, people with insurance will pay, on average, about $200 more per year for their dental care than they might without insurance, once premiums are factored in.
Some people benefit from dental insurance, but about half of us do not.
When you need a dental treatment that isn’t covered or want cosmetic dentistry your insurance won’t cover, financing can help you bridge the gap. We work with CareCredit, which offers special dental financing options.
You can get purchases that come with no interest if paid within a particular period, ranging from six months to 24 months, depending on the amount financed. This can allow you to get financing with no interest charges if you pay off the full amount within the promotional period. However, the insurance rate is high if you do not pay off the full amount in time.
You also have the option of getting a monthly payment plan with fixed interest that allows you to pay over an extended period of time, up to 60 months depending on the amount financed. This allows you to stretch out the payments with a lower interest rate.
Factor in the Value of Dental Care
When you are considering dental care, it’s important that you don’t just count the cost, you measure the value of what you’re receiving. Choosing the cheapest procedure or working with the cheapest dentist may end up costing more in the long run if restorations fail and have to be replaced more often. Some failures can even put other teeth at risk.
Maintaining your oral health is also good for your overall health, and can lead to several thousand dollars worth of savings on annual healthcare costs, fewer sick days, and an improved quality of life. And that can really be invaluable.
If you want to talk to us about how insurance and financing can make your dental care more affordable in Rochester, NY, please call (585) 244-3337 today for an appointment at contemporary dentistry.