In a utopian society, people could buy dental insurance with no waiting period for major work. They buy the coverage on the way to the dentist, have the work done, and drop the policy right after the claim was paid.
Would you take that deal if you were the insurance company? We do not live in a utopian society. Supplemental dental insurance comes with waiting periods, and works for those who plan.
We all may be familiar with how traditional dental insurance plans work. You visit the dentist, had your dental card to the billing manage, the office submits the claim, the insurance company pays the office, and then you receive a bill for the uncovered balance.
Sometimes those uncovered amounts are quite large, which is why you might need a supplemental policy.
Most dental insurance plans will cover medically necessary procedures, the treatments that affect your teeth, and your gums’ long-term health and viability.
However, all bets are off when it comes to services that improve appearance only. You may have to purchase an optional rider or find a cross-over point.
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Not all dental insurance plans work the same way. PPO and EPO designs include a contracted amount that the provider agrees to accept as full payment for covered services.
If your provider charges more than what your plan approves or allows you could have reason to dispute the bill, or you may have to bite the bullet. Your fate depends on several factors.
Does it make sense to put your hard-earned dollars into dental insurance when the plans pay so little for expensive treatments such as root canals, implants, braces and other involved procedures?
You can lose sight of the big picture if you only focus on the limiting factors such as the annual maximum, copayments, and waiting periods. Hidden cost savings from network discounts, costs avoided, and tax savings tip the scales.
Dental plans do not work like other types of insurance. Members are simply pre-paying for services and do not gain protections from unforeseen expensive hazards that could wipe you out financially.
Most plans have an annual maximum benefit or other cost-sharing feature that limits what the company pays. Patients are on the hook for the remainder. Find strategies to cope.
Supplemental dental insurance helps families who need plenty of work done on their teeth the most. Traditional plans often come with annual maximums, which limit the amount the plan pays in any given calendar year.
An extra policy can increase the amount of benefits paid every calendar year, and make those treatments more affordable.