One of the biggest expenses for most people is dental care. Anyone who has spent money on a dentist knows how expensive it can be. Fortunately, buying a family dental plan can help offset costs, and protect you and your loved ones from the hefty price of regular checkups. Many people don’t realize it, but most employers offer dental insurance as part of a company benefits package. This means that if you have an employer that offers dental coverage, you’re likely eligible to enroll in a family dental plan as well. In this article, we’ll discuss what a family dental plan is and whether or not it’s right for you and your family.
What is a Family Dental Plan?
A family dental plan is like a health plan that covers all family members. There are two main ways to purchase a family dental plan: A Self-Funded Plan or an Insured Plan. A self-funded dental plan is where the employee pays for the coverage out of pocket and the employer does not reimburse them for the cost. In other words, you’ll need to come up with a significant amount of money upfront that you’ll owe the dentist when you visit him or her. With an insured dental plan, your company pays the premiums for you and/or your family. The downside is that you may have some level of out-of-pocket expenses if you go to the dentist. This is because a dental plan is not a full-coverage plan.
Is a Family Dental Plan Right for You?
If you and your family are in need of dental care, then a family dental plan can be a great option. Ideally, dental care is necessary and reasonable. In other words, you don’t want to go to the dentist on a regular basis simply because you think it’s “good for you.” You’ll also want to make sure that dental coverage is an important benefit to your family. If your family mostly eats out or is generally not in need of dental care, then a family dental plan may not be right for you.
The Benefits of a Family Dental Plan
- Expense Protection: A family dental plan can help protect you and your loved ones from expensive dental costs. This is especially important if you have children or elderly family members who are more likely to need dental treatment.
- Income Protection: You may be surprised to learn that high-deductible plans, such as a family dental plan, may also protect you from losing your job because of a major dental bill. In order to qualify for income protection, the coverage you have must cover at least 90% of your anticipated (but not yet incurred) dental bill.
- Bundling: Dental plans often include a bundled health plan, which may include vision coverage, retirement plans, and/or basic health coverage.
- Cost Savings: A family dental plan may also be able to keep your family’s costs down. For example, a family who regularly visits a family and cosmetic dentist may end up paying more than they would have if they didn’t have dental coverage.
The Disadvantages of a Family Dental Plan
- Limited Coverage: Because a family dental plan is not a full-coverage dental plan, you’ll be faced with some level of out-of-pocket expenses. This means that you may end up paying a substantial portion of your dental bill.
- Increased Health Care Costs: Some experts worry that the government-mandated insurance pools that are used to cover high-risk, or expensive, individuals will lead to higher health care costs. This could mean higher premiums for your family’s dental plan.
- Tax Deductions: You may have to pay taxes on some or all of the premiums you pay for a family dental plan. You’ll need to keep in mind that this is true even if you’re self-funding the plan.
Finding the Best Coverage for You and Your Family
If you’re interested in a family dental plan, you’ll need to contact your employer and ask them what the annual cost of the plan is. You’ll also need to determine how much coverage you want and how much of your salary you want to contribute. If you currently have dental coverage, you may want to consider upgrading to a family dental plan that offers greater expense protection and/or income protection. If you’re in the market to switch employers, you may also want to shop around to see if you can get better rates on a family dental plan. Keep in mind that some companies may require a waiting period before you can switch plans. If you know you want a family dental plan, you may want to start looking now. You may be able to get a better deal if you sign up early enough.
Final Words
When it comes time to buy dental coverage for your family, make sure you take the time to shop around and get the best coverage for you and your loved ones. A family dental plan can protect you and your family from expensive dental bills, but it can’t protect you from terrible care. You need to make sure that you are getting the best possible care from family dentistry which is covered under your plan. If you have any doubts, avoid the dentist and look for another provider who takes your family’s coverage.
