We know that dental brokers want to give their clients the best solutions to help their employees safeguard their oral health. But keeping their budget in check matters, too. Two popular options are dental insurance and dental savings plans. Understanding the nuances of each one will help brokers guide their client toward the right choice.
Let’s take a look.
Dental Insurance
Dental insurance operates similarly to health insurance. Clients pays a monthly premium, and after meeting a deductible, the insurance company covers a percentage of the costs for various dental procedures. Dental insurance is one of the largest employee benefits brokers can offer, but it’s important to understand its pros and cons.
Pros:
- Comprehensive coverage: Dental insurance typically covers a wide range of procedures, including preventive care, basic restorative work and even major services like crowns and root canals.
- Predictable costs: Once the deductible is met, the out-of-pocket expenses for covered services are relatively predictable.
- Access to specialists: Many dental insurance plans include coverage for specialist care, such as orthodontics and periodontics.
Cons:
- Higher premiums: Monthly premiums for dental insurance can be expensive, especially for comprehensive plans. This can be a significant factor for those considering how to offer benefits as a small business.
- Waiting periods: Some plans have waiting periods for major procedures, meaning your client might not be able to get coverage immediately after enrolling.
- Annual maximums: Most dental insurance plans have annual maximums, which limit the amount the insurance company will pay out in a year.
Dental Savings Plans
Dental savings plans are membership-based programs that offer discounts on dental services at participating dentists. Let’s focus on Altogether Dental, which offers a number of different features and benefits than traditional dental insurance. It can be an attractive alternative for small businesses seeking cost-effective small business benefits solutions or those looking to create best small business benefits packages.
Pros:
- Lower costs: With Altogether Dental, employees will enjoy discounts of 15-50% on all dental procedures — everything from cleanings, fillings, orthodontia, dentures and more.
- No waiting periods: Discounts are usually available immediately upon enrollment. No annual maximums: There are no annual limits on the amount of discounts your client can receive.
- Flexibility: Our partnership with Aetna gives employees 260,000+ choices of in-network general and specialty care dentists.
As a broker, it’s your role to help your clients understand the pros and cons of each option and guide them toward the best fit for their employees. By staying informed about current trends in employee benefits, you can help your clients make sure they offer dental care because it’s one of the best benefits for employees.