Insurance Verses Discount Program – Which One is Right For You?
Traditional insurance you submit an application and will have to be approved, if approved you will pay a monthly premium, which can cost hundreds of dollars each month. Most dental insurance plans have a waiting period that means even though you are paying your monthly premiums you cannot use the plan until the waiting period is over, the waiting periods can be from any number of days up to several months or longer depending on the company. Once you begin using your plan usually there is a deductible that you will have to meet before the plan will begin paying on benefits. Most plans have a limit on the dollar amount you are allowed each calendar year after you reach that limit you will then pay out of pocket for any other procedures.
Some plans offer annual dental cleanings at no cost or very low cost, but after you’ve paid the monthly premium, & deductible is that annual cleaning really free?
In today’s economy many employers are no longer offering group dental insurance leaving families and individuals to get their own policies which can be costly. In the US seven out of ten people do not receive the dental care they need.
Let’s take a look into a discount dental program, to participate with a discount program you simply pay a monthly fee, some companies do require you to pay a onetime enrollment along with your first months fee the monthly fee is usually very low. Next you will choose a provider that participates in their network so be sure to ask prior to enrollment about dentists that are in your area.
When you go to a provider that is in the network you will receive a discount on your visit, the discounts usually range from 15% up to 70-80% depending on what you are having done. There is no waiting period which is great if you have an immediate need you are able visit the dentist right away, no deductibles, no co-pays. You will be responsible for balance after the discount, the discounts can be significant.
To determine the total cost of the insurance multiply the monthly premium times twelve month this will give you a cost, plus you will need to add in the deductible to that annual cost figure because you will be paying out of pocket for the deductible as well. For the discount program do the same multiply the monthly cost times twelve. So now compare those two totals and then examine the benefits that you get from each one to determine which will work best for you.
With either an insurance or discount program make sure the Dentist you will be using accepts the plan you choose.
By: Lenice Hubbard Independent Business Owner with Ameriplan. You can learn more by going to http://www.saveonyourdental.com.
