There seems to be a fear that comes with finding out how much dental insurance costs.
Would it surprise you to learn that about 5% of all the health care we need in a given year is for dental care? Since this is the case, most insurance companies will offer dental insurance at reasonable prices.
When a business owner wants to give employees dental insurance, there are a few options to think about.
One of the most important things they will talk about is the total cost. But cheap coverage doesn't always mean it's a good plan.
Here are some common types of coverage and what you can expect from them:
Patients with PPO Plans can choose from a group of dentists who have agreed to treat patients in the group for a lower price. In essence, the dentist is willing to take less money if it means getting more clients. Self-insurance is a good choice for businesses because it gives them a good chance of saving money if they don't use their services in a given year. The problem with this plan is that it can be hard to keep track of all the details. Self-insurance is a lot like direct reimbursement. Employees are free to go to any dentist they want. The person pays the dentist, and their employer pays them back. Research shows that more than 40 percent of employees may not need dental work in a given year. This could save the employer money. Closed Panel plans are one of the most restrictive because they limit the number of providers you can choose from. The patient doesn't get to decide which dentist to go to. Indemnity Programs are similar to health insurance plans that let you choose your own doctor or dentist. They also set a limit on the total amount of coverage and offer options for co-pays. Usually, these are set by the employer who keeps track of the total costs for the group of employees. Capitulation provides a contract for service arrangement that pays a specific provider a specified amount each month to cover all treatment. Even if no service is done, that fee is still paid.
Dental insurance can be affordable and a benefit that employees will like, but employees can also get private coverage through a local broker or online. It will cost less than major medical insurance and give you peace of mind that your family's dental needs will be met.
