Best Affordable Dental Insurance
Most people think a dental plan is part of the several coverage plans health insurance covers. Meanwhile, a dental plan, also called dental insurance, is a separate form of insurance you can purchase as add-on coverage or as a stand-alone policy alongside your health insurance.
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Dental insurance is a separate form of health insurance, also called a dental plan, that provides financial protection for dental care.
Dental Insurance Terminologies
When you decide to purchase dental insurance or a dental plan as an add-on to your health insurance or a stand-alone insurance policy, alongside your health insurance, you will need to be acquainted with various essential terms. These terms include premium, deductible, dual coverage, maximum, coinsurance, copayment, and exclusion.
– Premium
A premium for dental insurance is the amount of money you will be required to pay monthly and annually regularly for your insurance coverage. The premium is the requisite payment that determines if your policy will be active or canceled if you refuse to pay.
– Deductible
A deductible is the cumulative amount of money you will be expected to pay for the cost of the dental care you may incur before your insurance provider kicks in and starts covering the expenses of your dental care bills. Dental Insurance providers usually subtract your deductible from your claim payment should they be covering your dental care expenses.
– Dual coverage
Dual coverage, as the name implies, involves the use of two different plans or the use of an indemnity plan alongside with your dental insurance. The main purpose of this plan fusion is to be a beneficiary of comprehensive coverage of your dental care. However, Irrespective of how these plans mutually work together to mitigate your cost, the coverage will not be beyond a hundred percent.
– Maximum
This is the maximum amount of money an insurance provider will pay for the coverage of the dental care expenses you incur for a specific period. It can also be called coverage limit. Your dental insurance provider will not offer you their coverage if you have reached the maximum or coverage limit until you renew your insurance policy.
– Coinsurance
Coinsurance is the amount of money in the form of a fixed percentage you will be expected to pay after the completion of your deductible. For instance, if the cost of particular dental care is $100 and your coinsurance is twenty percent according to your insurance policy. If you have completed the payment of your deductible, you pay twenty percent of the $100 dental care, and your insurance provider will cover the remaining eighty percent of the cost of your dental care. On the contrary, you will have to pay the whole $100 if you have not paid your deductible.
– Copayment
A copayment is the specific amount of money you will be required to pay for the covered dental care expenses, usually when you receive the service. A copayment is synonymous with coinsurance, but they are in a fixed amount of money, while coinsurance is in a fixed percentage.
– Exclusion
Just like every other type of insurance, dental insurance does not offer coverage for all dental services. There are a few exclusions you may find out if you go through your insurance policy before you decide to purchase a dental insurance coverage plan.
Types of dental insurance
There are several types of dental insurance, among which some are not related to insurance, such as discount dental plans. The essential types of dental insurance plans include the following:
– Dental Health Maintenance Organizations (DHMO)
– Dental Preferred Provider Organizations (DPPO)
– Dental Discount Plan
– Dental Indemnity Plans
– Dental Health Maintenance Organizations (DHMO)
Dental Health maintenance organizations are a type of dental insurance that provides the insured services specifically for their dental health needs, with restrictions to in-network care providers. Dental HMO does not require the insured to pay a certain deductible, but they will be required to pay copayments for almost all dental services.
– Dental Preferred Provider Organizations (DPPO)
Dental preferred provider organization plan is flexible and does not restrict the insured to a particular care provider like dental HMO. Instead, the insured will have a chance to choose their preferred dental care provider. Meanwhile, the use of out-of-network care providers usually comes at a higher premium and coinsurance cost.
– Dental Discount Plan
Dental discount plans, as the name implies, offer discounts for several dental services which the traditional dental insurance coverage does not include, such as cosmetic dentistry.
The dental discount plan is not related to insurance; hence they do not charge a premium but rather an annual membership fee.
– Dental Indemnity Plans
A dental indemnity plan works like property insurance, such as auto insurance and home insurance. The insurance provider usually reimburses you a specific amount of dental care expenses you incur.
In this plan, you will have to pay your dentist for your out of pocket money for specific dental care. Once this payment has been made, you will have to file a claim. The indemnity insurance provider will reimburse you a particular percentage of the total expense according to your insurance policy.
Factors to consider when purchasing a dental insurance
The most common risk factor people usually consider when buying a dental insurance policy is the price. It is extremely risky because you may regret it after you purchase the insurance coverage. The regret you may encounter will be inappropriate coverage for an enormous out-of-pocket amount of your expenses.
In order to be a beneficiary of the best dental insurance, you will have to consider the coverage exclusion because dental insurance does not offer coverage for all dental services, such as root canals and cosmetic options. They may also exclude the coverage you seek; hence, it will be best if you cross-check the insurance policy before purchasing a plan.
You will also need to consider the coverage limit of the dental insurance plan to avoid purchasing a dental insurance plan with a low coverage limit that will threaten your financial stability. It is risk-free to purchase a dental insurance plan with a higher coverage limit or maximum.
The best dental insurance providers
According to the listed factors, you will have to consider to purchase the best dental insurance plan suitable for you, the best dental insurance providers with appropriate coverage limit at an affordable price includes the following:
– Delta Dental
– Humana
– Cigna
– UnitedHealthcare
– MetLife Dental
