Going to the dentist is bad enough without having to pay a huge
bill. Forty-six percent of Americans don?t have dental insurance
reports the National Association of Dental Plans. Many Americans have
no idea that dental insurance even exists.
Individual dental
insurance coverage is available, but you might have to do a little
research to find the right policy for you. Dental work can run
thousands of dollars in just a few visits. You want to have the policy
that will best fit you and your family.
Like other health
insurance policies, dental insurance ranges widely in the type of
coverage you receive in relation to the benefits paid. Some things are
simply not covered. Monthly premiums average anywhere from $12 to $50
per person.
That doesn?t sound too bad, but be sure that you
check to see if this is simply an introductory rate. Many companies
raise the rates significantly after the first year.
Make sure
that you are dealing with a reputable insurance company. Dental
insurance is an area that is highly reported to have fraudulent
companies taking advantage of consumers. If your work offers dental
insurance, it is probably your best option. If it isn?t available
through work, be prepared to shop around to find a good company that
offers a good deal. You can start by asking for recommendations at your
dentist?s office.
There are three types of dental insurance coverage: Dental HMOs, Dental PPOs and Dental indemnity plans.
Dental
HMOs are similar to a traditional HMO. You are given a limited
selection of dentists that you can see. This type of dental insurance
offers you the least amount of out-of-pocket costs. You premium costs
are likely to be very affordable, often around $13 each month.
With
a Dental HMO, you are usually guaranteed one or two dentists within 15
miles of your home or work. The focus tends to be on preventative care,
with many plans paying 100% of these visits. They will usually pay for
sealants or topical fluoride treatments that other plans do not cover.
As your treatments become more complicated and expensive, your
reimbursement rates could be at 50% or less.
Dental PPOs allow
you to go to a network dentist and pay one set of prices. You can chose
to see a dentist outside of your network for lessened benefits. The
average monthly premium is usually around $30 per month.
Dental
indemnity plans are considered traditional insurance plans and are rare
when it comes to individual coverage. If you can find this type of
coverage, expect to pay at least $40 per month.
There are credit
unions, professional associations and affinity groups, such as AARP,
that offer members access to group dental plans. You pay the entire
premium, but get the benefits of being included in a group plan.
For
example, AARP offers a group PPO plan to its members through Delta
Dental. The monthly premiums range from $30 to $45 per person. Many
areas such as preventative care, diagnostic and restorative treatments
and oral surgery are covered by the plan. The premium is guaranteed for
two years.
You could also check into group plans offered through
your employer. You may have to pay 100 % of the premiums, but the terms
are better than with an individual plan. Though it will usually cost
you a little bit more, the benefits are well worth it. Many employers
will let you pay your premiums with pre-tax dollars, adding more
benefits to you.
Discount dental plans are becoming popular these
days. Basically the plan negotiates your bill down, giving you a
discount on certain procedures. These plans can cost you around $15 a
month. You are responsible for paying the bill when services are given.
Some
companies can negotiate you significant savings, especially in the case
of major restorative work. But the plans are largely unlicensed by
state authorities.
You should be careful when purchasing discount
plans. Only buy through major insurance carriers ? they are always
licensed. You could also look to companies associated with national
organizations, but don?t take the company?s word, check with the
organization itself.
Reputable plans will tell you that you are
not purchasing insurance and will tell you all the terms and conditions
in advance. You will be able to locate their web site, contact
information and their corporation registrations for your home state.
Ask which dentists are included in the service and double check with
each office. Never send money without receiving the materials that
spell out the terms first.
Martin Lukac, represents http://www.RateEmpire.com and http://www.1AmericanFinancial.com,
a finance web-company specializing in real estate/mortgage market. We
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