Although choosing a dental insurance you probably might imagine that you could save a huge amount of money, it’s always better to be cautious. Before choosing a dental insurance, you might need to consider lots of drawbacks and your future plans. Basically, you need to realize that insurance companies need to make a profit, so the insurance is designed to protect you in a worst-case scenario. Dental insurance is significantly different from most other kinds of insurance. If you have other insurance such as health insurance or homeowner’s insurance, the potential downside is so high that almost no one can afford the risk of not being insured. However, if you have a dental insurance, the potential downside and the potential upside is fairly low.
If you only need the standard cleanings, exams, and X-rays that make up good preventive care, you would lose money by having dental insurance. For instance, if you paid out of pocket for these service, you might only spend around $400 for the year, while you need to pay $600 for the year on insurance premiums.
However, if your dentist informs you that you need a couple of filings, a root canal, and a crown, a dental insurance might help you save some money. But unfortunately, some dental insurance plans have low annual maximum of around $1,000, which might vary by plan and by provider. Once your dental bills exceed $1,000 in any given year, you have to pay the rest of the bills in full. The insurer won’t pay for more than $1,000 in treatment.
Sometimes you need to pay a lower negotiated fee for the work you have to do as a benefit of having insurance. But this negotiated fee could be quiet high. For instance, if the dentist’s regular fee for a filing is $150, the negotiated fee might be $100. Under this circumstance, your regular oral maintenance and filings could use up most or all of your annual maximums, and thus only a portion of your large dental-work bill might actually be covered. You might still need to pay $1,000 to $2,000 out of pocket, and you have to pay your annual $600 in premiums.