An Intro to Dental Insurance
Why is it that toothaches and nicks from shaving, are so painful? A shaving nick will disappear in a few days time, but a toothache will wreak havoc on your wallet prior to it’s resolution. As you probably are already aware, dental care comes with an extraordinarily high price tag, but is an essential element in your overall health care.
Here comes dental insurance. Not much in the past it was considered a big company perk, dental insurance has today established itself as a must-have benefit. Even most small companies offer dental insurance today to recruit and retain workers. Dental coverage costs less than 10% of total medical coverage so its affordable and preventive procedures, like cleanings, ensure the overall health of employees, which means a decrease in sick time and increase in productivity.
The are a variety of options available on the market today. It will take a little time, but be sure to give careful consideration to all of the options available to you.
Most expensive plans:
Direct reimbursement dental plans
These plans are the most expensive of the lot. They operate by paying for employee dental coverage from a pool of money set aside by the company for this purpose.
While this coverage is easier to manage as it eliminates the need for complicated formulas for co pays and deductibles, it simply directly reimburses the cost. Direct dental plans of this type come recommended by the American Dental Association, they are not the most cost effective option for a smaller business.
Most cost effective dental plans:
Plans through Managed Care
Managed dental care plans work much the same as a medical HMO, where you select a dentist from a designated list of participating dentists, and payment for treatment is paid for by normal co-payments. Smaller businesses may find these types of plans more financially manageable, as managed care plans employ a variety of practices to control costs.
The co-payment amount varies according to procedure. Preventive procedures are usually performed without co-payment, however advanced procedures will bear higher co-payments.
Ultimately, the choices for dental coverage will be up to the company, their finance people, and the HR department, but all parties involved should give careful consideration before settling on a choice.
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