With many basic medical services fully available through public healthcare programs, many Kiwis often wonder if they need medical insurance. Dental insurance, in particular, is one form of coverage that many folks often think twice about applying for.
So, to help you decide whether dental insurance is actually worth it, we’ll compare the benefits and drawbacks of dental insurance policies. Along with this, we’ll also share various resources for dental care and financing, all throughout this article
Should I apply for dental insurance?
Dental Insurance Benefits
The most obvious benefit of having a dental insurance policy is in the piles of money you’ll save on standard dental treatments and procedures. Assuming you regularly avail of dental services, an annual $600 to $1000 insurance premium could save you hundreds of dollars each year.
Without an insurance policy, braces or aligners alone could result in an average out-of-pocket expense of $10,000. Alternatively, if you happen to have a decent policy, you could end up paying only a portion of this cost or nothing at all.
Beyond spending less overall, having dental insurance can make dental care more convenient as you won’t have to wait for a public slot to open before you get treated. Instead, you can choose a private clinic of your preference and be in and out within an hour.
Last but not least, the option to have covered dental care treatments means your oral hygiene will be much better overall.
While we don’t recommend skipping toothbrushing and flossing altogether, having regular check-ups makes it significantly easier to maintain good oral health, you see.
Dental Insurance Drawbacks
The biggest downside to having dental insurance is having to pay a monthly or annual premium regardless of whether or not you frequent the dental clinic. In a way, because you invest so much in a policy, you’re required to go to the clinic to make the most of your money.
This can be extremely difficult to do if you’re on a particularly tight schedule or you happen to work all day. In addition to this, many dental insurance policies will have specific limitations with regard to the procedures and treatments that can be covered.
Because of these limitations, even with an insurance policy, you may end up paying a considerable portion of a treatment’s cost. In most cases, it’s likely that you’ll need to pay a particularly large insurance premium in order to receive the coverage that you need.
Our Two Cents
The way we see it, the importance of dental insurance depends largely on your specific dental care needs. If you or your dependents require frequent dental/orthodontic care, having a good policy and saving tons can definitely warrant an appointment with a medical insurance broker.
On the other hand, if you happen to have great teeth and a proper oral hygiene routine, you may be able to get away with not having a set dental policy. Granted, there may be times when you need to have a dental cleaning, but these isolated costs should be quite manageable.
Now that we’ve presented you with the pros and cons of dental insurance, we certainly hope this article will be able to help you decide whether or not you truly need a policy.