Insurance Policy Expert

Insurance policy expert Born and Bred.

What To Know About Dental Insurance For Self Employed People

Dental insurance for self-employed entrepreneurs is particularly important if you have a family. Being your own boss means carefully evaluating your financial situation and finding a policy that suits your budget and your needs. If you can afford it, an oral health comprehensive plan is obviously the best. However, if this is out of reach, you will have to choose a cheaper option.

Since most oral procedures are expensive, look at a policy that covers expenses only. If the premium for this is still too high, then apply for a dental discount card. In the US, these are designed to help individuals and families to save money on oral health. Participating dentists will offer a reduced fee to members. However, note that this is not an insurance plan, it is a discount program.

A discount card offers between 10 and 60 percent savings on oral procedures. You can choose from over 30 regional and national plans with more than 100,000 participating dentists. Joining is easy and, for quick activation, apply for the card online.

Getting back to insurance plans, there are ways to qualify for a low-cost policy. First, you must establish how much you can afford to invest in a plan. Then you need to estimate the level of oral care that you and your family will need annually. If you all have healthy teeth and intend visiting the dentist for regular check-ups, cleaning, whitening, or polishing, a basic plan should be fine.

There are many different policies on the market. Therefore, to choose the right one, you must compare the various options. The internet is a good place to start because the competition among online insurers is strong. This gives the consumer an opportunity of taking advantage of cheap rates for good policies. Individual operators are often the best because they have less monthly expenses than large firms. This enables them to give substantial discounts.

If considering a policy that includes participating dentists, check their location. Several of them should be close to where you live. If they are a long distance away, this could be very inconvenient, especially in the case of an emergency.

Many self-employed people sign up for a dental indemnity plan which is also called a fee-for-service plan. If you select this, you can choose any dentist. You do not have to obtain referrals but you may have to get prior authorization for some oral procedures. A deductible is involved in an indemnity plan. The policy will pay a percentage of the UCR (usual, customary, and reasonable) cost. Typically, the ratio is 80:20 which means the insurer pays 80 percent and you pay 20 percent.

Here’s how UCR fees relating to dental insurance for self-employed people are calculated. Usual refers to the fee that individual dentists charge most frequently for specific procedures. Customary is the fee determined by administrators of indemnity plans from the actual fees for specific procedures. This establishes the maximum payout for a procedure. Reasonable refers to dentists’ fees for complicated or unusual procedures which may differ from their standard fees.