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What is CareCredit?

Financing dental care is often tricky, particularly if you’re facing a large or unexpected bill and unable to pay for the full cost of your treatment up front. After all, insurance doesn’t cover everything, and sometimes we need the option of splitting up a big bill into manageable chunks. A healthcare credit card could end up being the best option. We’ll explore the financing offered by CareCredit, the largest provider of healthcare credit cards in the industry, and try to help you work out whether it’s an option that’s right for you!

CareCredit: Overview

So, what is CareCredit? CareCredit is a healthcare credit card which you can use to pay for dental treatment and procedures. Accepted by over 200,000 retail outlets and healthcare providers (including doctors, dentists, vision care, hearing care, and surgical centers), it’s a viable financing option for anyone who needs to pay for out-of-pocket healthcare expenses.

What Does CareCredit Cover?

CareCredit’s coverage is comprehensive, providing financing for a wide range of healthcare services, including:

  • Chiropractic
  • Cosmetic
  • Dentistry
  • Hearing
  • LASIK and vision
  • Primary and urgent care
  • Veterinary
  • Weight loss

When it comes to dental care in particular, CareCredit covers tons of procedures, including preventative, restorative, and cosmetic services:

  • Fluoride treatment
  • Gingivitis prevention
  • Root canals
  • Ceramic crowns
  • Periodontics
  • Veneers
  • Bite plates
  • Six month smiles
  • Headgear
  • Ceramic fillings
  • Lumineers
  • Teeth cleaning
  • Invisalign teeth straightening

Whether you’re after that perfect smile or you need braces for your children, CareCredit is a perfect way of spreading the cost. It’s particularly useful if you need a cosmetic dental procedure, which most dental insurance plans will not provide coverage for.

 

Payment Options

So, what are CareCredit’s payment options? There are essentially two choices:

  1. Short term. The short-term option provides 6, 12, 18, or 24-month plans. There’s no interest as long as you pay the minimum monthly payments and the total cost of the purchase is fully paid off by the time your plan ends. If you can’t pay the purchase off within the promotional period, interest will be charged from the original date of purchase. The minimum purchase amount is $200.
  2. Long term. The long-term option provides 24, 36, 48 or 60-month plans, and you’ll receive reduced APR and fixed monthly payments until the cost is fully paid off. Purchases of $1,000+ can be put on 24, 36, or 48-month plans, while purchases of $2,500+ qualify for the 60-month period.

Since the costs of dental care (except for full-mouth reconstructive implants) tend to be relatively low, it’s likely that you’ll only need to take out a short-term payment option. For example, the average cost of braces stands at around $5000, while veneers are between $900 and $2500 per tooth.

While CareCredit is an easy and accessible way for you to finance your dental care, it’s important to remember that it is still a credit card, and like all other credit cards, you’ll have to treat your repayments seriously, or you will risk your credit rating. Always pay on time, never miss any of your payments, pay more than the minimum if you are able to do so, and make sure that you check your outstanding balance every month.

Is CareCredit Right for You?

CareCredit can be an extremely useful financing option if you’re facing a big bill, which your insurance won’t cover. Medical and dental bills can be a massive financial burden, and CareCredit can make the expenses more manageable. CareCredit is a great alternative, so you do not need to compromise on your care when dealing with expensive treatments.

Even if you have funds available, CareCredit can be to your advantage.  Many practices offer installment plans, but they’ll often require you to pay a significant proportion of the fee within a relatively short space of time. Paying in monthly installments with a healthcare credit card can be better for your bottom line, and your state of mind.

So, who does CareCredit work best for? If you’re a student, a single parent, or a low-income earner, a healthcare credit card could be the perfect alternative, or addition to your existing health insurance policy.

Are you interested in paying for your next Dentist Appointment with Care Credit? Call 1-800-DENTIST today to find the CareCredit Dentist for you!