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An Overview of Different Dental Insurance Plans |
Various types of dental insurance plans are available nowadays. You can find plans that provide basic level coverage to those which cover every single likely dental expense.
Basic dental insurance plans are not exactly a type of insurance policy. Instead, it is something like a club. Here the insurance provider enlists certain number of dentists. If you want any dental care, you can visit any of the dentists that are enlisted in this plan. Depending upon the contribution you make, you would get significant discounts on the fees that you would have otherwise had to pay to the dentist. You should check if any of the enlisted dentists are easily accessible before you select such a plan.
Your second option is the indemnity insurance plan. This is more or less like a traditional insurance plan. You would be required to pay a monthly premium. In exchange you would get coverage on most of the dental procedures. This plan may not cover entire expenses but in most cases, the company would reimburse as much as 80% of the expenses incurred by the policy holder.
With this kind of policy, you must be careful about the deductibles and the total sum assured. In some cases, there is a gestation period from the date of institution of the policy. This is generally around a year. You may not be reimbursed for any expenses incurred in this time period. These policies are available for premiums ranging from $20 to $30.
Another popular option is the Direct Reimbursement Plan. This is a type of group insurance scheme where the employer has to fund the scheme and the employees are not required to pay anything. Employees are required to pay the bills and submit them to the employer. The employer in turn will refund the amount depending upon the percentage of cover that is provided. In this case, there is a ceiling on the total benefit and the ceiling varies from one employer to another.
Capitation dental insurance plans are also becoming increasingly popular. Here the dentist in the network is paid a fee per patient on an annual basis. The policy holder has to pay the bills depending on the type of treatment. These plans are specially meant for emergency and preventative health care. The cost may vary depending upon the health and age of the insurance seeker.
Some companies have started to offer the Preferred Provider Insurance Scheme. If the policy holder visits a dentist enrolled in the preferred list, he or she is entitled to substantial discounts on the treatment charges. While it is possible to visit a dentist who is not enrolled, the amount of discount would come down significantly. There are annual ceilings on this plan as well.
One more type of dental insurance that is catching up among people is Usual, Customary & Reasonable indemnity plan. This is a special plan in which the company maintains lists of average expenses that would be incurred for any given procedure. When you submit the bills, the company would crosscheck with the database. In case you paid more than listed amount, you have to bear higher cost, in case you have paid less than the cover that you are entitled to, the difference is refunded by the insurance company.
These insurance policies are among some of the cheapest available in the market. |