Insurance is designed to insure us against risk of catastrophic loss. Patients with medical insurance pay a small (relatively) monthly premium to insure that, in the unlikely event a loss occurs, a policy is in place to cover their medical expenses. Dental Benefit Plans are very different from Medical Insurance Coverage. Most Dental Benefit Plans are simply a method of allocating compensation from an employer for dental care to the employee. Because plans are usually capped at a relatively low dollar amount ($500-$2,000) and often require the patient to pay a copay prior to receiving benefits, it rarely makes financial sense for individuals to purchase pre-paid dental benefits on the private marketplace. However, that does not mean that you should ignore dental benefit plans offered by employers. If a plan is offered, it can be a great way of giving yourself a raise, especially if you have dental care that should be addressed.
Not all dental benefit plans are the same. Let us help you learn more about your plan.