Dental Insurance Verses Discount Plans

Feb 29, 2016

  1. mschlange
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    mschlange Super Genius

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    Wondered if anyone has looked at Dental discount programs verses insured Dental plans.
    Most dental coverage premium for a family of four can run around 1400 a year and discount plans can run as low as 120 a year for a family of four.
    They also include 24/7 access to a telemedicine as part of the premium
    Discount plans have no limitations, no calendar maximum of benefits and no claims forms or prior approval needed.

    Seems like this might be the way of the future especially when they can pay double the commissions of most dental plans
    Wondered if anyone has marketed this to business as a option?
     
  2. AgentStone
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    AgentStone Super Genius

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    First question I ask is "do you have a dentist you want to stay with"

    If they say "no" and money is a factor, I offer both ins and discount plan. They choose.

    A majority of my clients want to stay with their dentist. Many "seasoned" dentists aren't in-network with an insurance plan or with any discount plans. If they are out-of-network, I suggest a PPO/Premier dental ins plan and it will generally pay UCR.

    Not sure where double commission in this case is better?
    - Let's say you make 20% commish on a discount plan $120 yr prem= $24 yr.
    - 10% on Ins plan $1400 yr prem=$140.

    You'd have to sell a lot of discount plans to make it worth your time.
     
  3. somarco
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    somarco GA Medicare Expert

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    Discount plans have been around for years and rarely offer value. Of course the same can be said for most dental insurance plans.

    In a metro area less than 20% of dentists participate in any network. Percentage is smaller in rural areas.

    If your current dentist participates in a network and you like the plan, buy it. Otherwise stick it in a sock and save for the time you actually need dental work.
     
    somarco, Feb 29, 2016
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  4. AllenChicago
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    AllenChicago Guru

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    OH WISE COLLEAGUES...

    Attached to this post is a Illinois Retired Teachers Association (IRTA) Dental & Vision brochure given to me by a teacher who is retiring in a few months. She has a husband and two "children" under 21. With their current PPO Group dental, the family still pays about $1,000 OOP annually.

    The $148 a month premium seems quite steep, but because it's a IRTA endorsed plan, there are no waiting periods. But it still has that aggravatingly common $1,500 max benefit limit per calendar year.

    All the other individual plans I can find have a 6 month or 12 month waiting period for extractions, crowns, etc.. Even the QHP Dental sold by BCBS-IL has a 12 month waiting period for adults. (But No waiting period, or benefit $$$ cap for dependents under age 21. That's an Obamacare thing.) It costs $178 per month.

    As always, constructive advice is appreciated!

    -Allen
     

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  5. somarco
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    somarco GA Medicare Expert

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    Group plans can be a good "investment", especially if the employer is paying a significant portion of the premium.

    Group plans don't have waiting period, usually include ortho, have better OON payouts and tend to come with higher annual maximums.

    I was covered under my wife's dental plan for several years for less than $10/month. Lousy plan with a $750 annual benefit cap but I maxxed it out several years in a row when I was on the crown a year program.

    Finally convinced her to drop the plan as the premium approached $20 and my major work was behind me.

    I don't have a dental plan now. If I did want one I would get the Humana DHMO. My dentist retired last year so there is no loyalty. At $16/mo, no waiting period, no annual max and copay's for everything it is the only plan I have reviewed that delivers value.
     
    somarco, Mar 1, 2016
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  6. Justin Bilyj
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    Justin Bilyj Guru

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    I think Humana has the best dental plans imo. Easy to understand, usually 2-4 plans are available. I like the discount plan the best, 15-20% off of services, and you can find a ton of providers around here that take them.
     
  7. AllenChicago
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    AllenChicago Guru

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    Thank-you Somarco!
     
  8. Justin Bilyj
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    Justin Bilyj Guru

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    Just make sure you apply 30 days out for that plan.
     
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