subject: How to find the best dental insurance plans [print this page] How to find the best dental insurance plans
Dental Insurance Plans Today - Myth vs. Fact
In the 1980s, dental insurance plans were the main form of dental coverage for individuals and families. However, in the ensuing years, as the cost of dental care far outpaced the rate of inflation, this type of insurance became less effective at making dental care affordable.
During this time, a new savings vehicle emerged, called a discount dental plan, which has again made dental care affordable for millions of Americans. Here we examine some myths and facts about dental insurance plans and why discount dental plans have gained in popularity
Myth 1: Dental insurance plans are intended to pay most or all of your dental bills.
Fact: Dental insurance will typically cover most preventative dentistry, such as exams, x-rays, and cleanings, but will only cover about 50% of major services such as dentures and crowns. As a rule, the less your insurance costs, the less you'll be reimbursed.
Myth 2: The insurance company will pay the actual fees that dentists charge.
Fact: Dental coverage contains a cost limit on each procedure, often referred to as the "maximum allowable charge" or "MAC." In many cases, this limit is less than the dentist's actual charge, so your reimbursement is less than the 50% the policy says it will pay, because your reimburse is "50% of the MAC," regardless of what you actually pay.
Myth 3: All dental work is covered.
Fact: Many dental services are NOT covered. For example, most insurance does not cover cosmetic dentistry, because such procedures are not "medically necessary."
Myth 4: Over the years, dental insurance plans have kept up with inflation.
Fact: The simple answer is that dental coverage has not kept up with inflation. 30 or 40 years ago, dental insurance had a maximum benefit of between $1000 and $1500 per year. Today, a single crown can cost that much, yet most insurance plans still contain the same annual benefit limits.
The cost of dental care has far outpaced the rate of inflation, but insurance has failed to keep up. So what can an individual or family do to make dental care affordable and accessible?
Discount Dental Plans
The first thing you need to understand is that discount dental plans are not insurance. They do not reimburse dental bills. Instead, this type of plan works like a buying club by taking advantage of cumulative purchasing power.
For example, with over 8,000,000 members, Careington is the largest discount dental plan in America. With its huge membership base, Careington is able to negotiate steep discounts on dental services with dentists who agree to join the plan. In return, the dentist can expect to gain many new patients from Careington, with no out-of-pocket advertising cost required.
This is a win-win situation for everyone. The dentist can count on a steady stream of new patients to fill their otherwise unused "chair time." In return, dental plan members enjoy discounts of up to 60% on nearly all dental care. Unlike insurance, there are no annual limits and no paperwork hassles in order to obtain reimbursement. Best of all, there are no waiting periods required for service and existing conditions are accepted immediately. In addition, dental plans cost much less than insurance.
Dental insurance is still a viable option for employees of large groups, where the employer pays half or more of the monthly premium. Otherwise, people looking for low-cost dentistry, a discount dental plan may be the sensible choice.
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