Dental Implants are a great advance in the field of dentistry but also may be a great burden on your wallet. Even if you have dental insurance, it may only cover the procedure up to $1500. In many cases, that does not even cover a single implant.
Nonetheless, a cost-benefit analysis proves they are often worth the price. They will not slip or move like dentures and preserve your jawbone. Dental implants are far more durable than the alternatives and rarely need to be replaced which saves money over the long-term.
If you want to get dental implants, there are several financial strategies that can mitigate the burden:
- For those with a longtime dentist, you may be able to work out a payment plan for major implant procedures. Since your dentist isn’t going to “foreclose” on your mouth with a pair of tongs if you default, it’s important to establish a strong relationship of trust as it may take a year or more to pay for multiple dental implants.
- Financial Savings Accounts (FSA’s) offered by many employers allow you to spend untaxed income on implants. For certain income brackets, an FSA may cover up to 20% of your dental bill.
- Health Savings Accounts (HSA’s) allow you to save pretax dollars to pay for medical expenses. The funds you put in this account are not subject to federal taxes. HSA’s are more flexible than many insurance plans since they can be used to cover dental expenses. Unlike FSA’s, they automatically roll over each year and accumulate if not spent.
- Some dental insurance plans do not cover the major costs of dental implants. Others are better. Choose your dental insurance wisely.