How Seniors Can Pay for the Cost of Dental Care

The first thought in the minds of many people would be that seniors do not need dental plans because they have no teeth. In previous generations, this would have been more true than it is today. With improved health and increased longevity, seniors often have most of their natural teeth far into their golden years. Some still have them into their 90’s and beyond.

So, the need for dental care continues past the dental insurance that frequently comes as a fringe benefit from a job. Employees who participate in some of the stronger trade and labor unions many times get to keep this type of coverage as part of their retirement package. However, with the declining numbers of people who belong to unions, more and more people find themselves entering retirement without a dental plan and with plenty of teeth that will require the services of a dentist.

Since Medicare and Medicaid are very limited in what dental services that are covered, seniors regularly find themselves having to pay significant sums of money to keep their teeth in good shape. The risk of not being able to afford dental care when it is needed can be offset with a dental insurance policy.

Dental insurance policies are not usually expensive. The reason for this comes from the fact that most private dental plans work more like a savings account. You pay the insurance company $1,000 per year and in return, you get to receive about $1,000 paid toward your dental care.

This may seem like a bad deal, but unlike a savings account, you can spend your $1,000 all at once or spread it out. As soon as you make the first premium payment, your coverage is in force. So, you do not have to save up before you go to the dentist. This can be a great benefit if you get a toothache in February. You can get it fixed immediately instead of waiting for two or three months for the funds to accumulate.

The downside is that if you do not use your benefits during the year, they do not accrue. You start fresh with the new year. Also, most things are not 100% covered. You pay 25% to 50% and the insurance covers the rest. This way, you do not get free dental work, but it is deeply discounted.

If you can afford to put back $2,000 or so for dental emergencies, this can be a good substitute for insurance. This way you do not have to pay a premium until you spend down the account. Then, just add back an amount each month until you have restored the balance. Your money can make a little interest if you do not use it.

The real problem with this is that many seniors will allow themselves to go without care instead of taking money from their account. Seniors tend to be savers and not spenders by nature.

If you have a serious health problem from your teeth, Medicare, Medicaid, and your Medicare Supplement will usually pay. In these cases, you have a what they would consider a medical and not a dental problem.

The best solution is to shop around for dental plans. You may even find a dentist that offers payments. This might take the pressure off from worrying about taking money from an account to pay for dental work.