Learn to Understand Your Dental Plan Quote

So, you searched for reputable insurance companies, chose a comprehensive all care dental plan, and requested a dental plan quote. Now you’re looking at a sheet of paper full of numbers and terms that you don’t quite understand, but are definitely paying close attention to the monthly premium. This is not the only important factor in choosing an all care dental plan however, and following are a few terms and numbers to look for on your dental plan quote.

1. Premium:
This is the monthly, semi-annual or annual rate which you must pay the insurance company in exchange for your all care dental plan. Ensure you are comparing apples to apples by breaking this amount down to the same unit of measure – whether it’s on a monthly basis or annual.

2. Deductible:
Most of us only are familiar with deductibles due to our experience with auto insurance. This is the amount of money you must cover upfront for specified services before the insurance company will pay for any costs. Pay close attention; you may have separate deductibles for preventive services and fillings or braces.

3. Co-insurance:
This is typically expressed as a percentage, and is the amount you must cover of a certain amount after reaching your deductible. This percentage may be 50%, 20% or another amount, and this tells you what percent of a specified amount of charges you will be responsible for in addition to the deductible.

4. Maximum out-of-pocket:
This amount will tell you how much exposure, with your deductible and co-insurance included, you may encounter in a given policy year. You may notice there are different amounts for a family or individual, and should be considered when choosing a plan. Also remember that this is only pertinent to covered expenses. Any uncovered procedure will be 100% paid by you.

5. Exclusions and limitations:
This list is customary with every policy, but may differ somewhat between them. Pay attention to specific services and lifetime limits. You don’t want to find yourself paying for braces in cash when you thought they would be covered under your policy.

6. Co-pay:
These plans are typically more expensive, but may make more sense if you have several children or family members that require multiple dentist visits each year. If a dental plan quote includes a co-pay amount, this is the dollar amount you will be responsible for at each and every dental visit. This may apply only to preventive services and cleanings, or also fillings and other procedures.

You will also want to compare the average annual rate increases between the different insurance companies who have given you a dental plan quote. Your new all care dental plan should remain affordable over the next several years, and be maintained by a reputable company. It is suggested that you compare no more than three or four different plans at any one time. The process can become very confusing, but sticking to these specific items on a dental plan quote will help you make the best decision possible.