If you’ve lost your teeth, dental implants are your best, more permanent option that serves you for a lifetime. However, they involve the services of skilled dental professionals and state-of-the-art technology, and this means that they are not cheap. What’s more, dental implants are not fully covered by a majority of traditional dental insurance and cost in the thousands. However, this post, we will discuss various options you can use to finance dental implants.
Financing Dental Implants
There are various implant financing options that allow you to fund your treatment. Depending on the type of treatment (single dental implant or whole mouth implants) and the number of implants you need you will dictate where you want to look for financing. If you are concerned about how much dental implants cost then you should meet with a dentist to find out what your treatment will cost.
Payment Through Loans
Getting a loan can be difficult, especially if you have a bad credit history or no credit history at all. However, there are various options you can choose from depending on your credit history as shown below:
Secured and Unsecured Loans
It is easier to qualify for a secured loan irrespective of your credit history. But, you must put your property; including a house or a car, as collateral for the loan. This means that the property can be repossessed by the lender if you fail to pay the loan.
If you have a good credit history, you can go for an unsecured loan. Here, there is no collateral but your lender can engage a collection agency to recover the money if you fail to pay the loan.
Care Credit operates in the same way as a credit card. It gives you the opportunity to start the dental implant treatment immediately, and then finance it with affordable monthly payments.
There are two Care Credit options. First, there is the ‘No Interest Payment Plan’ that covers 3, 6, and 12 months interest free plan. As the name suggests, you don’t pay any interest as long as you pay the balance within the specified period. 90% of our implant patients choose this option.
Since the dental implant procedure is basically two phases, the financing can be broken down into two equal amounts. The first phase or the surgical phase is about half of the treatment cost and can be financed under the no interest payment plan. The second phase or the restorative phase, where we make your teeth, can be started before the first phase is paid off. One can finance the second step of implant treatment under the no interest plan again, thereby reducing your overall monthly payments.
Second, there is the ‘Extended Payment Plan’ that covers 24, 36, and 48 months. For any procedure above $1500, you are required to pay an interest rate as low as 12.96%. For a dental implant operation costing $1500, the amount you pay monthly can be as low as $41.
This is a firm that helps individuals to pay for their medical or dental procedures. Since its aim is to finance medical bills, their approval rates are quite high and you can get up to $50, 000, which is enough to cover all on 4 dental implant financing. For more information on their payment plans, visit them online or inquire at your dental implant consultation appointment.
Most dental implant centers are flexible when it comes to financing dental implants. For example, most of them have in-house payment plans that allow you to make monthly payments. By distributing the pay across a number of months, you therefore have more time to source for the funds, while also receiving implant treatment. Usually a valid credit card and drivers license are required to apply payments on a specific day of the month. Payments start at $150 per month.
Payment plans can also be handled by a third party, for example a dental insurance policy. These types of payment accommodate monthly payments and are ideal for persons with a bad credit history and on a tight budget. The only limitation is that you must make these payments prior to the dental operation.
Dental Implant Financing Using a Flexible Spending Account (FSA)
If you are an employee and your employer offers an FSA plan, you can deposit up to $2, 750 of your gross income into a Flexible Spending Account (FSA) for the year. You can use these funds to cover uninsured medical and dental expenses tax free, including dental implant operations.
One of the merits of using the FSA to finance dental implants is that it is tax-free for the patient. Your employer deducts the amount from your paycheck before any taxes, which means that you will owe fewer taxes at the end of the year.
When paying for the dental implants, you can choose to write a check or use the FSA debit card provided by the insurance company provider.
Note: You should confirm with your insurance company if your FSA covers dental care procedures. Most insurance companies do cover procedures that are cosmetic, and dental implants are in that category. Others consider dental implants as a necessity, and hence will pay for them.
The Bottom Line
There are various ‘dental implant financing near me’ options, even if you are operating on a tight budget and have bad credit. Therefore, if you have lost your teeth, don’t hesitate to seek help from a trusted dental implant office in Rockville MD, like Rockville Dental Arts.
Remember, a dental implant can significantly improve your smile and make you even more self-confident.