You might have heard it said that dentistry is expensive. However, that isn’t always true, especially when you take advantage of provisions that can lower your out-of-pocket costs. Many people keep dental care within their budget by using an insurance policy, while others purchase a discount plan. Which one should you choose? Let’s talk about some of the key differences between dental insurance and dental discount plans.
Dental Insurance
In many ways, dental insurance is similar to health insurance. In exchange for a monthly premium, you enjoy reduced fees on most oral health services. In a standard PPO policy, for example, your preventive care may be 100% covered, while restorative procedures may be anywhere from 40 to 80% covered.
Some other typical features of dental insurance include:
- An annual maximum. Insurance companies put an annual limit on how much they will pay out for approved services. $1,000 is a common annual maximum.
- A waiting period. If you are new to your policy, it may be 6 – 12 months before you can use it to cover certain services.
- A deductible. This is the amount that policyholders must pay before their insurance policy kicks in. It is common for a deductible to be around $50.
You can use PPO dental insurance at virtually any dental office. However, using it at in-network practices can keep your out-of-pocket fees as low as possible.
Dental Discount Plan
A dental discount plan may require you to pay a monthly or annual fee. In return, you get to enjoy discounts on your care. Here are some key things to keep in mind about discount plans:
- They usually cost less than insurance. However, the discounts they provide are typically less than what you would get from a traditional insurance policy. For example, they may provide large discounts on preventive care but much smaller fee reductions for restorative and cosmetic services.
- There are limits on where you can use them. Some discount plans are exclusive to one practice, while others have a network of participants.
- There are fewer restrictions on eligible treatments. Insurance usually does not cover cosmetic treatments, dental implants, and some other advanced services. Usually, there are no restrictions on what you can use a discount plan for.
- There is less fine print. Discount plans usually do not include an annual maximum, waiting period, or deductible.
Which Should You Choose?
There is no “right” answer when it comes to choosing between dental insurance and a dental discount plan. Both offer some outstanding advantages. The one that is best for you will depend on what you are looking for. For example, if you are thinking about getting cosmetic treatment, a discount plan might be better. If you travel frequently, insurance might be more practical.
After you shop around a little and compare your options, you will likely settle on an insurance or discount plan that fits your unique circumstances and desires.
Meet the Practice
Dr. Brad Mitchell is an experienced, empathetic dentist who is sensitive to the financial concerns of patients. We are an insurance-friendly practice, and we also have an in-house savings plan that can help you enjoy discounted care. To learn more about us and our payment policies, contact us at 405-755-2670.
