Individual Dental Insurance
It is hard to know which situation is worse: walking into the mechanic’s shop to have a “funny rattle underneath the car” diagnosed, or going to the dentist to have that “slight toothache in one of those back molars” looked into. You probably figure you will be leaving behind many hundreds of your hard-earned dollars to diagnose and fix either problem.
Lucky you! You can save most of that money you would spend at the dentist’s office if you have covered yourself and your family with individual dental insurance. It is always better to have the dental insurance in place before something does go wrong. Most all care
dental plans have waiting periods for certain procedures. Get yourself protected before you need it.
If your employer does not offer dental insurance, you will need to shop for your own plan. Do your research thoroughly, and compare various plans from several providers before making the decision. The Internet is a good place to start your research, but don’t hesitate to call a potential provider to see how they do business.
Look for similarities and differences among at least the following points:
Premiums: This is the amount you pay each month to maintain coverage. You will pay a higher premium for higher reimbursement percentages. Individual dental insurance premiums can often be paid out of your HSA (Health Savings Account).
Deductibles: Your deductible should be fairly low, especially if you must pay a deductible for each member of your family. Remember, you may be able to pay this expense tax-advantaged through your HSA.
Reimbursement percentages: Most preventive care should be 100 percent covered after you meet your deductible. Plans differ greatly on the “extra” services they will cover, and a higher premium could be worth the money if you think you will want tooth-colored fillings, braces, dentures, crowns, etc.
In-network versus out-of-network coverage: Most individual dental insurance plans have a list of contracted or participating dentists. By visiting one of these dentists, you will receive the maximum benefits. Some plans will reimburse a percentage of out-of-network or referred procedures. Read your plan carefully.
Emergency coverage: If you are on that tropical vacation and chip a tooth chewing a filbert, are you covered? What if you are at home but it is late at night or on the weekend? Check your dental plan benefits book, because the better plans have in-network dentists on call 7 days a week, 24 hours a day to meet emergency dental needs.
Waiting periods: Some dental plans cover procedures immediately. Others have a “Missing Tooth” clause that states a certain period of time must pass before certain procedures are covered. Check the waiting period, exclusions and limitations clauses carefully.
Private dental insurance delivers the right dental services more cost effectively, protecting you as a consumer. Saving money on your dental visits feels nice, and can leave you a little extra cash for your next visit to the auto body shop!