When it comes to health coverage, it’s tough to choose between 2 plans. There are high deductible plans with lower monthly premiums, and then there are low deductible plans with higher monthly premiums. Before you make an informed decision, learn more about your deductible.
What is a deductible?
A deductible is the amount you pay before your coverage kicks in. Some dental plans don’t have a deductible and some do. For most plans, there is no deductible for preventive services like cleanings and fluoride treatment, which are covered at 100%.
How to choose the right dental plan for you:
Finding affordable dental coverage shouldn’t be a chore, but you should give it careful consideration. Assessing your own situation is a great place to start. Factor in your financial state, age, lifestyle and family.
And while high deductible plans might save you money because of their lower monthly premiums, they still might not be the ideal choice for you. Below are some situations in which individuals could benefit from a high deductible plan:
- You’re young and in good health. If you’re young and only need 2 cleanings per year, a high deductible plan is the way to go.
- You have emergency money saved. A savings account lowers your financial risk when carrying a higher deductible plan.
- You’re single without kids. Between braces and jungle gym accidents, kids are unpredictable. If you don’t have kids and/or aren’t planning to add to your family, high deductible plans are the best choice.
- You’re not a risk-taker. If you participate in contact, collision-prone sports, you probably won’t want this type of plan. Remember to consider the activities your kids participate in.
Making a final decision on a dental benefits plan:
By doing the financial math, assessing your own risks and looking ahead, you should be able to decide if high deductible plans are right for your family.