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Regardless of the perceived value of dental insurance, when you look at the numbers, they can tell a different story.
It can be very difficult to receive more benefit than the plan costs. Most dental insurance plans come with a very high premium ($80-$120/month) and will only pay out a maximum dollar amount of $1000 to $1500 per year – and that is usually with 50% to 80% coinsurance. This typically only covers smaller dental bills, which is contradictory to what insurance is supposed to pay for, the things we can’t afford to pay on our own. And to make matters worse, most individual/family dental insurance plans and some small group dental insurance plans also require a waiting period before they will cover pre-existing conditions.
With all that said, it is better to have dental insurance than not. Here’s why:
- Network discounts – Most dental insurance plans come with PPO in-network discounts that will save you 20% to 50% on most dental services. In the event that you need major dental work, at least those discounts will help.
- Routine Cleanings – For many of us, having dental insurance is often the motivator for scheduling regular cleanings. Most dental insurance plans include two cleanings per year per person. You’re paying for them, why not use them.
- Recent health studies have also found correlations between poor dental health and the incidences of cancer and cardiovascular disease.
Many dental insurance carriers now offer affordable, preventative-maintenance plans that cover two checkups per year and give you the PPO network discounts in the event that you do need major dental work. These plans offer a much better value.
Although some vision insurance plans do cover the actual cost of exams, frames and lenses, most only provide percentage discounts within a very limited network – especially limited in rural areas. Vision plans are typically inexpensive, but you get what you pay for. But like dental insurance, the perceived value of vision insurance is much higher than the actual value of benefit that one would receive if they truly need it.
With that said, vision insurance is good to have because it does provide those discounts on exams, frames and lenses. When you own an HSA, you are able to pay those expenses with pre-tax money.
If you would like to inquire regarding the dental insurance and vision plans that we offer, click here or call 888-293-7923.