How to Finance Dental Work

Dental work can be expensive and, at times, seemingly unaffordable. However, this shouldn't stop you from getting your teeth the attention they need. With so many financing options for dental work, you can determine the lowest and most effective cost for you to get the dental care you need. Take a look at some of the financing options for dental work so you can get the dental care you need.

6 Financing Options for Dental Work

• Insurance
  Depending on your dental insurance, you might be able to reduce the amount you will owe on your dental bill. However, typically only a percentage of the bill will be covered, and you will also have to pay a copay . How much your dental insurance covers will also depend on if you have met your out-of-pocket deductible, which may prevent the insurance from applying any type of coverage to your dental work. Be sure to always check your insurance coverage before paying anything out of pocket.
  
  Even though dental insurance might not cover the cost of your entire bill, it can help with dental costs. The insurance can cover up to as much as 100% or as little as 50% of the bill — already greatly reducing the cost immensely. There are various dental insurance plans that could help with dental costs.

• Provider financing
  Dental practices can typically help you figure out how to finance dental work, as well as view what options you have. Some dental offices offer in-house payment plans and financing through third-party lenders. The terms and interest rate may be custom for each plan and depend on your financial situation. Certain offices may also offer exclusive financing for emergency dental care or dental procedures that require return visits.
  
  For example, braces typically require monthly appointments for adjustments and maintenance. Instead of paying the total cost upfront, your orthodontist might allow you to make a payment each time you visit until the braces are off. It’s also important to note that some dental procedures might be excluded from provider financing. Be sure to ask ahead for planning and budgeting purposes.

• Credit cards
  Can you finance dental work with a credit card? Yes, particularly, by using a dental care credit card. This is a lot like a retail store credit card, but can only be used for dental work at specific dental offices. This type of credit can come in handy if you can’t pay out-of-pocket and don’t want to add the charges to your everyday credit cards. Dental care credit cards can also be useful if you plan to get several procedures in a row and need an open line of credit.
  
  Some card issuers offer promotional financing for new accounts, like 0% interest for 6, 12, 18 or 24 months. However, it’s important to read the fine print. If you don’t pay the balance in full before the promotion ends, you could be charged interest for the entire original purchase. Interest charges can make the total amount you pay much higher than the original price of the dental procedure.

• Flexible Spending Accounts
  FSAs are usually provided by an employer and allow employees to create a tax-exempt savings account that can be used specifically for health care costs. This can include out-of-pocket costs, copayments or deductibles. Most, if not all, procedures that prevent or treat a dental disease are typically covered, including teeth cleaning, crowns, bonding, dentures and more. Cosmetic procedures, such as teeth whitening, are not usually covered. Since each employer or FSA provider has different rules regarding the use of FSAs, you should talk to your provider before you begin any dental work to ensure that it will be covered.

• Personal loan for dental work
  Medical loans for dental work can be used toward dental care instead of having to pay out-of-pocket or meet an insurance deductible. The loan can be provided by a bank, credit union or private lender as a lump sum, so you can use the money at nearly any dental office you choose. When applying for a loan for dental work, look for a lender that offers fixed interest and payment, which can keep the rate and monthly payment the same until the balance is paid off.

  To see how a personal loan with OneMain can help with your dental costs, check out our medical loans.

• Use your emergency fund
  Building an emergency fund takes a lot of diligence and commitment, but it’s there for things like when you really need money for dental work. If you use your fund instead of financing dental work, be intentional about building it back up again.
  However, it’s important to decide if the dental work is enough of an emergency to break into your savings. Using your emergency fund money can save you from taking out loans or financing dental work.

Tips to lower the cost of dental work

At some point in life, just about everyone will need to know how to pay for expensive dental work. Prices can be all over the place depending on providers, insurance and what you need to get done. So, it’s important to turn your focus on how to reduce dental costs. Here are some suggestions to help bring them down:

• Get a second opinion: Research how much your dental procedure costs at other offices in the area. Then, approach your dentist with the information and ask them to match the best price.

• Go to a dental school: While you may want to leave surgical procedures like dental implants to the experts, dental schools could provide basic quality care for less.

• Compare dental plans: Dental insurance can be extremely helpful when it comes to financing dental work. Check out the various insurances and other dental savings plans to see which one will help you figure out how to pay for expensive dental work at the lowest cost to you.

• Be honest about your finances: If you’re in a tough spot, let your dentist know. Some dentists, especially one you’ve known for a while, may be willing to lower the cost or delay your bill a few months.

• Go to your annual dental checkups: Let your dentist catch any possible issue early on to help prevent it from getting worse, which usually means getting more expensive.

• Focus on prevention: Most dental health issues can be prevented, from cavities to gum disease and more. Buying good quality dental products and taking care of your teeth daily can help prevent you from requiring extensive dental work.

Affording Dental Care Doesn’t Have to be Like Pulling Teeth

Your dental health is important. Don’t let costs prevent care you really need. If you need help with dental costs and can’t pay out-of-pocket, you don’t need to drain your savings account or disrupt your monthly budget. OneMain Financial medical loans can be used for dental work, and you can check for prequalified offers in minutes.