There are so many decisions to make this time of year. Read on before making your 2023 elections for Orthodontic Insurance Coverage and Flexible Spending and don’t forget to spend your 2022 FSA money before it runs out!
Orthodontic Insurance 101
Insurance can be confusing. We get it. Orthodontic coverage operates differently than other dental coverage. Here’s your Ortho Insurance 101.
Here’s what to look for:
1. The percent at which orthodontics is covered. This is the percent of the treatment cost that your insurance will cover (up to the amount in #2). Often this will be 50%.
2. The Orthodontic Maximum. Typically this number is between $1,000-$2,000. This is the maximum amount your insurance will pay.
3. Age Limits. Make sure your plan has coverage for adults if you are looking to get braces yourself. Many plans only cover braces up to age 18, for example. There are sometimes minimum ages as well.
4. Deductibles. This amount will typically be due each January you are in treatment. Many orthodontic insurance plans do not have a deductible, but a few do. This is typically $50-$100 each year.
5. How long you will stick with this plan. Orthodontic benefits pay out over the course of your treatment, not in one lump sum. This means if you quit your job or change benefits midway through treatment, your insurance will likely not pay out your full lifetime maximum. You will become responsible for the remainder that is unpaid by the insurance.
6. Changes in plans. If you get new insurance during treatment, notify us ASAP. Sometimes insurance will pay for part of your treatment even if it is already in progress, but not always.
Flexible spending accounts are a great way to pay for your orthodontic treatment! Now is a great time to check your benefits and see how much money you have left in your flexible spending account for 2022. Benefits often expire at the end of the year, so use those benefits for a down payment or extra payments on an existing orthodontic treatment plan. Don’t let YOUR money that you put aside go to waste!
We also have flexible payment arrangements that can allow you to pay a small down payment now and a larger payment in January once your Flexible Spending money is available. Call us today to go over some options!
Happy to help.
We have a Financial Coordinator on-site who specializes in all things financial! Give Davina a call today to talk through benefit options and ask any questions you may have. Or, if you prefer, come in for a free consultation to go over pricing to see what to plan for in 2023!