With dental implants, you can enjoy the benefits of a full set of teeth without having to worry about dentures, partials, bridges and bone loss. Dental implants are today’s best option for replacing missing teeth, and they have the potential to last a lifetime with proper dental care! Unlike other dental procedures, implant treatment requires state-of-the-art technology from a skilled dental professional, which means the treatment is not cheap, but a long-term investment in your self-confidence and oral health.
For patients worrying about the cost of dental implants, don’t compromise your smile and oral health before exploring your options. Depending on your financial situation, here are some alternatives to consider for financing your dental implant procedure.
Establishing a payment plan for your Dental Implant Treatment
With dental implants, no two cases are the same, so the cost will vary. It can vary from patient-to-patient based on their needs and desires of what they envision for themselves. Whether or not you have a dental insurance benefits, most patients need an alternative way to pay for the procedure, and most patients finance it over a period of time. Here are some common methods — most not requiring high credit scores — that patients use to pay for a dental implant procedure.
Healthcare Installment Plan
We’ve partnered with CareCredit and LendingPoint where we offer 6 month 0% interest financing for dental care related services. If you need terms that are longer than 6 months, they offer different financing options as well. Using either of these companies are popular financing option for dental patients.
With a healthcare installment program like CareCredit or LendingPoint, they accept credit scores from 550 and up. When you’re approved, you’ll be able to make small monthly payments for your dental procedure, and not have to worry about the upfront cost for your dental treatment. Another alternative to the 2 companies mentioned is Lending Club, where they offer affordable financing options as well.
Paying for Dental Implants with Insurance
Dental insurance is a great place to start for getting implants. Depending on your dental plan, most dental plans offer at least partial coverage for implants. If this coverage seems minimal, you can plan your procedure to be carried out in stages over time, which will lower your out-of-pocket costs, and maximize your dental benefits. If you’re unsure of how this works, contact your local dentist for help. They will take care of everything from helping you understand how much your plan covers and showing your options to maximize your dental coverage.
Flexible Spending Account Or Health Savings account Payment Plan
There are 2 types of spending accounts that can help with your dental implant procedure – Flexible Spending Account (FSA) and Health Savings Account (HAS). When you add an ether a FSA or HSA to your benefits package, it can significantly help cover the majority of the cost of dental implants. This is a great way for employees with high deductible health plans (HDHPs) to save on treatment and maintain good oral care overall! The maximum amount an employee may deposit before tax income into their account is $3,500 for HSA and $2,750 for FSA. Whether you have a FSA or HSA, the money can be used tax-free towards eligible expenses like medical or dental services.
There are many benefits of using either FSA or HSA funds to cover a portion of your dental implant procedure. One major benefit is that you can use the funds in advance whether or not you have fully funded your account, and extend repayment over the course of a full calendar year. This means it’s basically like a payment plan with no interest charges, is tax free, and is paid over the calendar year through payroll deductions! Making use of this option is a great way to make dental implants more affordable and convenient.
Join a dental savings Membership Plan
If you don’t have dental insurance, a dental savings membership plan at your local dental office can give you some relief. Each plan may vary however by joining a dental membership plan at Sloan Creek Dental, patients receive a discount of 15% off all treatments, no need to pay for deductibles or co-pays, and receive 2 cleanings and 2 exams each year! This is the perfect solution for those who want to save money on their oral care, and it’s an easy way to receive 15% off on your implant procedure! Give your Fairview dental office a call today to see how you can save today!
Home Equity Line of Credit (HELOC) Payment Plan
A Home Equity Loan or Line of Credit can be a great alternative to improving your quality of life with dental implants. Using a Home Equity Loan or Line of Credit can help pay off the cost of the procedure faster by using the money from your house, instead of borrowing it elsewhere. In order to qualify, you will need to have enough equity in your home for this type of loan. Depending on your lender and other criteria, the interest rates on these types of loans are lower than traditional loans, making it a good option to consider.
Benefits of BORROWING FROM A RETIREMENT PLAN
Borrowing from a retirement savings fund such as a 401(k), 403(b) or 457 can be an excellent way to pay for dental implant procedures. There are many advantages to borrowing from your retirement fund, such as low monthly payments that may run over five years, low interest rates ranging from 3% to 5%, and all the interest paid for is deposited back into your retirement account.
The biggest benefit to borrowing funds from your retirement account is the approval process is based on available funds in the account, not your income or credit score. Payroll deduction is a popular choice for repayment because it’s easy and convenient. Depending on the medical reason and age, it may not require you to repay your withdrawal. Withdrawing funds from your retirement account may seem like a daunting task, but it doesn’t have to be. Speak with your human resources department about what options are available in order to determine the best approach.
Credit Union or Personal Bank Loan
Receiving a personal bank loan for dental implants in recent years has become increasingly difficult as this type of loan is classified as an unsecured loan. But if you have an established relationship with your financial institution such as banks or credit unions, this will increase your chances of securing a line of credit or loan. When considering financing options, it’s worth contacting your local credit union as they typically have lower interest rates compared to traditional banks. Depending on the terms, they may offer an affordable monthly payment plan from $300 to $500 per month, depending on the amount borrowed for treatment.
Credit cards can be a great help for covering the costs of dental implants. Depending on the card, they offer special features like frequent flyer miles, cash-back rebates, points, and low/no interest rate promotions. Consumer advocacy sites such as NerdWallet and CreditCards is an excellent resource when determining which cards have the most benefits. Depending on your credit, there are plenty of new credit card promotions that provide interest free financing on your purchases, where you can spread out the payment across 12 to 18 months. Regardless of the promotion or perks, if you’re going to pick a new credit card, make sure it best meets your needs.
Implants are a worthwhile long-term Investment
When forgoing replacing your missing teeth, it can lead to a whole slew of problems. Such problems may include surrounding teeth may shift from their original location, the alignment of your bite may change, depending on the location of your missing tooth, and it may be harder to eat comfortably. The biggest problem with not replacing missing teeth is jawbone loss. Once the tooth is extracted, the body begins to “reabsorb” the jawbone that once surrounded the root. As time passes, the jawbone will deteriorate resulting in changes in your facial structure and appearance, and makes it harder to fit a bridge, partials, dentures, or dental implants.
Restoring your teeth and smile with dental implants is a long-term investment in yourself. Patients with dental implants may experience an improvement in your smile, increase in self-esteem, better oral health, and makes it easier to speak and eat.
Have more questions on how to afford dental implants?
At Sloan Creek Dental, Dr. Tina Feng is an experienced dentist in replacing your missing teeth with dental implants. To learn more about your dental implant procedure, or learn more about dental implants, schedule a dental appointment at our office, please contact our dental office at 972-468-1440, or leave us a message.