Suze Orman: Is a Dental Savings Plan Worth Getting?
Written by
Katie Wudel
Edited by
Kristen Mae
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Medical care can get expensive. This is especially true when it comes to dental care. One option Suze Orman recommends is a dental savings plan. Here’s what Orman had to say about these plans and how they can help bridge the financial gap.
What Is a Dental Savings Plan?
Dental savings plans are not insurance. Instead, they operate on a membership basis where individuals pay an annual fee in exchange for access to discounted dental services from participating providers. Orman emphasizes the simplicity and directness of these plans. There are no deductibles, no waiting periods, and no complicated paperwork.
“I want to be clear,” said Orman in a blog post. “Because this is not insurance, there are no claims to file or claim denials to fight. You pay the reduced bill at the time of service.”
Payments are made directly to the dentist at the time of service, reflecting the discounted rate agreed upon within the plan. This straightforward approach can offer significant savings on dental care without the bureaucratic hurdles often associated with dental insurance.
Suze Orman’s Personal Experience and Recommendations
Orman shares a personal example to illustrate the potential financial benefits of a dental savings plan. After needing an emergency root canal, she found that her out-of-pocket costs were significantly reduced thanks to her enrollment in a dental savings plan.
The savings amounted to $859 on a single procedure, nearly five times the annual fee of her plan. This example underscores the potential for dental savings plans to offer substantial financial relief in the face of costly dental procedures.
Orman advises those without dental insurance to seriously consider a dental savings plan. She also suggests that even those with dental coverage through their employer or Medicare Advantage plans review the policy limitations.
Traditional dental insurance often comes with low annual coverage limits, which might not suffice in the event of extensive dental work. In such cases, a dental savings plan could serve as a valuable supplement, ensuring access to affordable care beyond insurance coverage constraints.
How to Choose a Dental Savings Plan
Choosing the right dental savings plan requires research and consideration. Orman recommends consulting with your current dentist to see if they participate in dental savings plans. This can ensure continuity of care with a trusted provider. Furthermore, websites like dentalplans.com offer a platform to search for participating dentists in your area.
Bottom Line
Orman’s exploration of dental savings plans highlights an often overlooked opportunity for managing dental care costs. With her blend of personal experience and expert advice, Orman presents a compelling case for the value of these plans, especially for those inadequately covered by traditional dental insurance. Orman’s guidance is not just about saving money but about making informed and empowered decisions for your financial health and well-being.
Editor's note: This article was produced via automated technology and then fine-tuned and verified for accuracy by a member of GOBankingRates' editorial team.
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