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Once you retire, or scale back on your hours, it becomes more important for your money to work even harder for you. Now that you are living off of your savings and income from pensions and Social Security, you want to make every dollar spent count.
When it comes to your health care, it is a big deal that at age 65 you are eligible for Medicare coverage. The monthly premiums are far less than what you would pay in the individual dental insurance market. That’s a great deal. But you still have to budget for plenty of medical costs.
On average, Medicare covers about 70% of an individual’s health related expenses. Co-pays, deductibles and other out-of-pocket expenses can add up to 30% of your medical costs!
And you likely are on the hook for 100% of your dental care needs. Medicare does not cover routine dental care, and even if you have some coverage through a supplemental Medicare Advantage plan, it likely has a low limit on how much it will pay each year. So it is no surprise that a survey from the Kaiser Family Foundation, a leading non-partisan health care research outfit, reported that more than 1 in 5 seniors with Medicare report they have delayed or foregone because of the high cost.
That makes me so angry. We all know how important dental health is to our quality of life, and our overall health.
Seniors Should Look into a Dental Plan
I have some good news for seniors. Please, please look into joining a dental savings plan that you can easily buy online (or over the phone.)
Dental savings plans are not insurance. They are better than dental insurance. Dental savings plans are very affordable, and – unlike traditional dental insurance – there is no annual cap on your coverage.
Rather, if your dentist accepts a dental plan, you will be offered a deep discount off of his or her standard rates. And you can use your plan to save on dental care as often as you wish, for everything from cleanings to crowns!
A dental plan is your ticket to affordable dental coverage for the rest of your life. I have saved big-time using a dental plan that my dentist accepts. I can’t imagine why anyone, especially seniors, would not want to do the same.
Suze Orman has been called “a force in the world of personal finance” and a “one-woman financial advice powerhouse” by USA Today. A two-time Emmy Award-winning television host, New York Times mega bestselling author, magazine and online columnist, writer/producer, and one of the top motivational speakers in the world today, Orman is undeniably America’s most recognized expert on personal finance. Visit Suze’s website, to access a wealth of resources that will help you to get smart about your money. And make sure to listen to Suze Orman’s Women & Money podcast!
Dental savings plans are an affordable alternative to traditional dental insurance. Plan members report saving an average of 50%* on their dental care. Give us a call at 1-833-735-0399 to learn more and get a personalized recommendation for a dental savings plan that meets your budget and dental care needs.
How Do Dental Savings Plans Work?
As Suze Orman notes in her article above, dental savings plans (also known as discount dental plans) are a smart, affordable alternative to traditional dental insurance. Plan members report saving an average of 50%* on their dental care.
There are some important differences between dental insurance and dental savings plans. With a dental savings plan you:
- Start saving immediately, as soon as your plan activates (typically within 72 hours). With insurance, there is a waiting period (6-12 months) before you are covered for more expensive treatments like crowns, bridges and dentures.
- Pay your discounted rate directly to the dentist. No paperwork hassles, no worries about whether your insurance claim will be denied.
- Save on treatment for pre-existing conditions. Insurance typically does not cover treatment for dental problems – such as missing teeth – that you had before buying coverage.
- Save on treatments that insurance typically doesn’t pay for, such as dental implants to replace teeth or improve the function of dentures.
- Use your plan as often as you want. Dental insurance has an annual spending limit, typically $1000-$1500 a year – about the cost of a single root canal and crown! After you reach your annual insurance limit, you pay out of pocket for your dental care. Dental savings plans have no annual spending limit.
There are plans that fit every dental care need and budget. Want help choosing the dental savings plan that’s right for you? Give us a call at 1-833-735-0399 or use our calculator below for a quick peek at how much you can save with a dental savings plan.
*Discount Health Program consumer and provider surveys indicate average savings of 50%. Savings may vary by provider, location, and plan.
