If you are like most people who are facing orthodontics, the average cost of $3,000 to $7,000 is front and foremost in your mind. Although, you may have this money sitting in savings, you really do not want to have to pay more than you absolutely have to for the dental work that you must have done. One of the keys to saving money on the cost of your orthodontics is to start making plans as far in advance as you can. This will allow you to take advantage of some of these options, as well as come up with others on your own.
Invest In A Flexible Spending Account
Many employers across the country offer flexible spending accounts as a part of their employee benefit packages. Unfortunately, some employees do not take advantage of this valuable benefit and many times it is because they simply do not understand how these accounts work.
A flexible spending account allows you to designate up to $2,550 annually to be placed in a special account that you will then be able to use to pay for out-of-pocket medical expenses. These expenses include:
- Prescription drugs
- Doctor ordered treatments
- Medical equipment
- Dental costs and more
Once you designate a specific amount up to the $2,550 limit, this amount will then be divided by the number of times you are paid throughout the year, and only that amount will be deducted out of your paycheck. The beauty of these accounts is that this money is deducted prior to it being taxed. This means that you will automatically save the amount that equals what you would have paid in taxes on this money. Although the amount you save will be dictated by your tax bracket, it could equal significant savings.
For example, if your orthodontics are going to cost you $2,500 and you are in a 25% tax bracket, using your flexible spending account to pay for them will automatically save you $625.
Another advantage to using a flexible spending account to pay for your orthodontics is the fact that the entire amount you designate will be available to you on January 1st of the plan year, although it will be deducted throughout the year. This would be no different than setting up a payment plan with your dental office except that you would be getting a significant discount.
Double Up Your Dental Insurance
Another option that will help to reduce the amount of money that you have to pay out-of-pocket for your orthodontics is to make sure that you have adequate dental coverage. The amount that your dental insurance will cover will vary from company to company. If your plan will only pay a small portion of your cost, you may want to look at investing in dual dental insurance coverage.
While your primary dental plan may be through your employer at work, you can also find alternate dental plans that are available for purchase. While individual coverage may be slightly more expensive for these stand alone plans, you may even be able to find other group plans through organizations that you already belong to. Ask your family and friends about any dental plans that they may be using, but before you purchase a plan make sure it is going to coordinate with your other plan to provide the type of coverage you are looking for.
Speak To Your Orthodontist
If you cannot find a way to make your orthodontics affordable, speak with your dentist. They may be able to share options with you that will allow you to get the services you need at a price you can afford to pay. Some of these may include using a dental school that is located in your area, or they may be able to point you to financial assistance that is provided by nonprofit organizations in your state.
Your dentist is a part of your healthcare team. As they do not want you to go without dental work you need, they may be more than willing to help you to find ways to make it more affordable. Check out a site like http://www.reedorthodonticsnaples.com to consult with a dentist.Share