The cost of high-quality dental care in the U.S. is not cheap. This is especially true for retired seniors living on a budgeted income and who don’t have access to the best insurance money can buy. But for at least some of these seniors, there is a valid way to pay for those unexpected out-of-pocket dental care costs.
It’s called a reverse mortgage. It works like this. If you’re 62 or older, own your own home, and have been paying on the mortgage without a hitch for decades, you can qualify for a loan that can potentially run in the hundreds of thousands of dollars.
If approved you can receive your proceeds in one lump-sum payment, equal monthly disbursements, or a line of credit. It’s entirely up to you and your needs and wants. You need never pay the loan back unless you move or die. Should you happen to call the Golden State your home, you can get a good idea of the best California reverse mortgages available on the marketplace today by simply going online.
But paying for expensive dental costs in retirement could take more than the proceeds from a reverse mortgage. With that in mind, a new report from the American Legion explores all the options available to seniors.
According to the report, around two-thirds of U.S. retirees are presently going without dental insurance at a time when they need it most since teeth tend to deteriorate as they get older. Without the benefits of traditional Medicare coverage, along with the opinion that private dental insurance costs too much to be worth it, seniors living on a fixed income often find themselves paying out-of-pocket whenever a dental emergency arises. This can cost them thousands of dollars they do not have.
Says the American Legion, while there is no simple solution to finding cheap and affordable dental care, a variety of options exist that can help you cut out-of-pocket costs. That said, here are a few places for you to look.
Medicare Advantage Program
For the most part, dental services are mostly left out of the original U.S. Medicare plan. But a Medicare Advantage plan will provide dental services. However, these will likely be limited in scope.
Medicare Advantage plans are said to be U.S. government-approved healthcare plans such as HMOs and PPOs that are engineered and sold by private insurance companies and organizations that you can utilize in place of the standard Medicare. Whether you live in California, New York, Texas, or anywhere else in the U.S. you can research a Medicare Advantage plan that suits your needs by going to Medicare.gov.
Dental Insurance Programs
If you’re a senior who requires extensive dental care like oral or maxillofacial surgery, a dental insurance program designed for individuals is said to be worth the cost. The monthly premiums for individual dentistry plans for seniors are said to currently range anywhere from $20 to $80.
The typical plan usually includes at least two cleanings and two checkups per year. Keep in mind, these dentistry plans come with a waiting period which can last anywhere from a few months to a few years prior to coverage for more expensive procedures kicking in. This means don’t wait until you have a dental problem before getting your dental insurance.
According to Forbes Magazine, the very best dental insurance plans for seniors and non-seniors should provide high levels of treatment reimbursement, along with short or no waiting periods, plus they cover a wide range of services. However, it’s not always easy to collect all the detail required for a thorough comparison of plans.
But here are what’s considered some of the best dental insurance plans on the market today:
Guardian Direct: This dental plan is said to be good for coverage that is out-of-network.
Anthem: This plan is said to come at a good price for the number of treatments covered.
Spirit Dental: If you’re looking for fully covered cleanings, this is the plan for you.
Ameritas: This plan required no waiting periods which means if you sense a problem occurring with your teeth, you might want to seek them out now.
Humana: If you’re looking for preventative dental care, this is a very good choice.
Delta Dental: This company covers a variety of procedures, but it’s said to specialize in adult braces.
Dental Savings Plan Programs
Said not to be as comprehensive as individual dental insurance plans, dental savings plan programs are still a decent option for those seniors living on a fixed budget who do not have any kind of dental insurance protection. With a savings plan, you are required to pay an annual membership fee which is said to range anywhere from $80 to $200 per year. For this, you get a 10 percent to 60 percent discount on treatments and services.
If you’re looking to find the right savings plan for you and your spouse, you should consider utilizing your preferred search engine to look for participating dentists and plans in your location. You can also get a decent breakdown of any and all discounts they offer.
According to Benzinga, while a dental discount/savings coverage plan will provide more affordable treatments and services, it will not cover any percentage of your overall dental treatment bill.
Only dental insurance reimburses your dentist or oral surgeon for the services provided less a coinsurance or deductible that you are required to pay when you receive the services required. This makes dental insurance a better proposition than a dental savings plan if what you require is comprehensive assistance and coverage when it comes to paying your bill.
Also, you need to keep in mind that even the best dental insurance won’t cover what’s considered cosmetic surgeries such as dental implants. But a select group of dental savings or discount plans will allow you to use your discounts on cosmetic treatments. But you must remain within your network for the discounts to take effect.
Lots of older women and men are said to be adding a dental savings plan designed to complement their Medicare coverage. But if the senior is living on a fixed or limited income, he might find the lack of affordable retirement-age plans to be frustrating since most companies charge higher premiums for older adults.
Veterans’ Benefit Programs
If you happen to be a senior who’s also a veteran and enrolled in a VA health-care program or are the beneficiary of a Civilian Health and Medical Program or CHAMPVA, the VA is said to offer a comprehensive dental insurance program via MetLife and Delta Dental at a considerably reduced cost, or so claims the American Legion.
It’s also a fact that the VA provides free dental care to veterans who have ongoing dental problems that are the result of their service or combat. If you’re a vet who needs to look into a good dental health treatment, you should visit VA.gov/dental.
Cheaper Dental Care Programs
It’s no secret that prices among dentists vary. One way to make certain that you are getting a great deal on your dental or oral surgery care is to do your due diligence. In other words, you need to actually call multiple providers in your area and make an educated comparison of prices.
You can do an online search to get an accurate idea of what various dental operations and treatments cost in your geographic location. Also, if you plan on paying cash, it might make sense to ask about a price adjustment since lots of dentists and oral surgeons might be willing to offer you a significant discount.
Also, you should be aware that there’s a variety of health clinics and health centers that will provide low-cost dental care to those seniors who simply do not have the money to pay for treatment out-of-pocket. Every university and even community college dental schools along with college dental hygiene programs offer dental cleanings and care to the general public, generally for considerably less than half of what you would have to pay out at a professional dentist’s office.
Should you worry about a dental student working on your mouth? It’s important to note that dental students are fully supervised by their professors while they go about providing the care they need. In some cases, the dental care provided by a university might be superior to a professional dentist’s office.
If you’re interested in seeking out a student dentist who is supervised by a professor, you can use your favorite search engine to seek out a school near you. Or you can also seek out a free clinic that operates near you. Note that you might have a long wait time to deal with a free clinic. You should call them and inquire about it before you show up without an appointment.
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