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Individual Dental

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Valuing Dental Insurance

Group Dental Options Individual (Non-Group) Dental

 
Will Dental Insurance have value for you?

 

 Dental insurance may or may not be right for you. Generally speaking, if Dental is offered through your work place, it is almost always a good deal. However, many groups, especially small ones, do not provide dental insurance. That leaves you looking for Individual Dental, and here, good records and a little math will help you decide what to do.

Group Dental:
Small group dental, with enrolled employees equal to 1-9, will provide a modest discount over individual rates. That plus whatever the company pays in, generally makes dental insurance an affordable option.

Groups with 10 or more enrollees have access to much more flexibility with plan design and premium structure. With groups of this size, the dental coverage may be tailored to a specific set of needs. Cost per employee generally reflects a reasonable discount over standardized plans for smaller groups.

In some cases, where employees are sharing premiums, dental insurance may not be a high demand item. Low participation rates may limit the plan options or disqualify the group for coverage. There is an alternative. Employee Supplemental plans may include a Dental option, and without participation rate requirements. Utilizing this strategy, the employer is the hero for making the benefit available, and yet there is no company cost for the benefit. (See the AFLAC Page)

Delta Dental recently introduced a plan where there is no participation requirement. Essentially, it makes individual dental insurance available through a payroll deduction plan. 

Individual Dental
If you are considering purchasing dental insurance for just you and your family, you need to weigh the average annual benefits to your paid-in cost. Often times, people find that paying all dental expenses out of pocket is actually less expensive in the long run.

Here's how to help make the decision whether to buy or not.
  • Add up Annual costs:
    What have you paid to dentists over the past few years? Can you establish an average annual cost of dental care?
  • Estimate Future costs:
    Are there any known special care considerations in your immediate future, such as root canals, or perhaps braces for the kids? Project the costs you will be facing in the future. Pay attention to waiting periods for certain kinds of care, typically 6 - 12 months for major work, and 18 - 24 months for orthodontics.
  • Annualize Dental Premiums:
    Calculate what your annual dental premiums will be.
  • Add in deductibles and copays:
    Now, look at the dental plan. Estimate how many visits and the kind of work that needs to be done. Add up the deductibles if any, add in the copays, and then total all the costs.
  • Compare:
    If your estimated annual expenses exceeds the cost of the insurance plus other expenses, then insurance would provide some value to you. If, on the other hand, you will be paying more for the insurance than the value received, you will be better off just paying out of pocket.

Do be sure however, to consider waiting periods for coming major work. For example, if your insurance vs. out of pocket for the next couple of years appears to be close, but you know you will need to get braces for the kids starting in a couple of years, then you must consider the future value of the plan.