Dental Insurance Cut From Employee Benefits
Within corporate America, benefits have constantly been used as a tool to attract, hire and retain the best talent in the field. For decades, health insurance with dental coverage was considered the standard. However, the economic recession of 2009, forced employers to find a way to trim the fat from their budget resulting in 12.7 of companies reducing health related benefits including dental insurance (http://www.usatoday.com/money/workplace/2009-04-06-employers-cut-worker-benefits_N.htm). Chances are individuals who are lucky enough to still have the perk are seeing greater paycheck reductions to foot more of the bill.
Fidelity Investments' Consulting Services estimates that employee health coverage benefits can cost employers $5,000 to $15,000 per employee annually. Of those numbers, industry insiders suggest that dental care only comprises around 4 percent of employer benefit budgets. Depending on the type of coverage offered, that can result in an employer spending $200 to $600 for dental care per staff member.
Employees with dental coverage should brace themselves as the Society for Human Resource Management suggests that employers are looking to cut back their investment into dental insurance. ources indicate that 25 percent of companies plan to pass the cost burden onto their hires.
Preventative Dentistry to the Rescue
Studies from 1989 have indicated that consumers with private dental insurance coverage visit the dentist more frequently than those without the dental coverage (www.cdc.gov/nchs/data/series/sr_10/sr10_183.pdf). Since the type of tooth protection no longer appears to be cost effective, individuals are strongly advised to invest both the time and effort into preventative dentistry such as brushing, flossing, exercising, eating a healthy diet, drinking fresh water and seeing a dentist at least twice a year. The dental health behaviors are nothing new, as dental insurance coverage was initially designed to back up a self-care regimen.
Instead of paying for the costly dental insurance, individuals have other options to minimize the expenses. Some no dental insurance options include saving for the expense using a health savings account, volunteering to take part in a dental clinical trial, getting dental care at a dental school or via a free clinic, applying for government assistance or relying on a payment plan to make the restitution more manageable.
For the latter, one option is CareCredit; a type of credit account specifically designed for the medical industry. Individuals can also talk directly to their dental provider about a direct payment schedule. Individuals looking to find a dentist open to the suggestion should contact 1-800-DENTIST for more information. We have already conducted all the research regarding dentist payment options so you don't have to.