We have all encountered this scenario – we experience dental pain but we are hesitant to go to the dentist. Not entirely because of fear of pain, but because we know how expensive a dental procedure would cost. Not everyone has dental benefits as part of their medical insurance policy, so we would rather have home treatments and endure the pain. This continues until we have no choice but to go and avail for a very expensive dental surgery or treatment because the problem progressed and we can’t take the pain anymore. Fortunately, some dentists would offer payment plans for dental work, also called dental financing. Let us discover what payment plans for dental work are, how it works, its types, and if dental payment plans really important in availing a treatment.
Payment plans for dental work: What is dental financing?
Paying out-of-pocket fees for a dental procedure or treatment is not an unusual thing. It is a fact that very few people have dental insurance because it is a supplementary benefit and not part of their medical insurance. That means that for a person to have dental benefits, he has to pay extra money on top of his monthly premiums for his insurance coverage. Unfortunately, those who have coverage do not get the benefit of having free dental work, because more often than not, the policy will only cover a part of the total expenses. This is where dental financing becomes a great option. But what is dental financing?
Dental financing schemes are options where you can either borrow money to pay for your dental treatments or procedures or asking for an installment payment scheme from your dentist. This may be a more convenient option for you to pay for your dental bills than to expect coverage for a procedure but only getting a fraction of it discounted. Just make sure that you know how to wisely manage and control your expenses so you wouldn’t have a problem paying for them.
Payment plans for dental work: Different dental financing options
Regular credit card
This is the typical credit card you use for paying for all your needs. You can use it to pay for your medical and dental needs, just make sure that the dental practitioner accepts credit card payments and you are all set.
Medical credit card
Like the regular credit card, these medical ones also have an annual limit and interest, but the catch is, you can only use it in getting healthcare needs. Yes, that includes dental procedures! Most medical credit card providers have a specific community of providers who you can get your procedures from. Also, if you are able to pay for your balance within a deferred period of time, you will not have to pay for the interest. Sounds enticing, right?
Getting a personal loan from your bank or other lending companies is another dental financing option. The money you borrowed doesn’t have to be strictly for health reasons, so you can use it anywhere you want. But of course, you would have to pay for the interest. Moreover, if you have a bad credit history, chances of getting approved may be slim.
This is where you coordinate with your dentist about your financial status and he finds a way for you to get your dental procedure with payment terms. They can also offer payment schemes and financing using third-party lenders. Discuss this with your dentist to know what options he can give you to make your dental consultation a breeze.