Many of us worry about the cost of dental treatment
In fact, it can even put people off visiting the dentist. We completely understand getting the dental treatment you need can be an expensive exercise, but did you know that you can use your Health Savings Account (or HSA) to pay for dental exams and work? If you have High Deductible Health Insurance, taking advantage of your HSA is a great way to save money. Here’s how it works.
How does a Health Savings Account save you money?
When you contribute money to your Health Savings Account, it works much like any contribution you would make to an IRA or 401K. This means that the money you put into your account is not taxed. Plus, unlike your IRA or 401K, there’s no penalty for using it before you turn 65.
If you are in the 28% federal tax bracket and you pay an additional 7% in state taxes, you would have to earn an almost $170 to pay a $125 bill. But, when you use your HSA, you pay the bill with pre-tax money. This means that you only have to earn $125 to pay a $125 bill. That’s essentially like getting a 35% discount on your dental work!
How can I maximize the benefits?
Your company may have recently switched to a High Deductible Health Plan (or HDHP), which is great for small businesses and self-employed professionals. It offers a lower premium because there are no co-pays. Instead, you pay for every visit until your deductible is met. At that point, most plans pay 100% of the bill. What most people don’t know is that they can use their HSA, which is part of their HDHP, to actually pay for dental work. Be sure to check with your provider to see if your dental expenses qualify towards your deductible.
Even if your dental expenses don’t go toward your deductible, you can still use your Health Savings Plan to pay your dentist and enjoy the savings! If you or your employer has switched to a High Deductible Health Plan, take advantage of the Health Saving Account, and save 35% on all of your dental bills.
What can I use my Health Savings Account for?
You can use your Health Savings Account to pay for a wide range of dental treatments. These include teeth cleanings, digital x-rays, fillings, crowns, root canals, dental implants and even bridges. You can even use the money you save for cosmetic work, such as teeth whitening treatments.
Want to take advantage of your benefits? We offer a variety of treatments to suit you and your family, ranging from general dentistry to cosmetic procedures and implants. Dr Hall and his dedicated team work with state-of-the-art technology to provide you with modern, comfortable, and efficient dental techniques. For a full list of treatments on offer at The Studio For Exceptional Dentistry, have a look here.
Can I use my dental insurance at The Studio For Exceptional Dentistry?
At The Studio for Exceptional Dentistry, we work with you and your insurance carrier to fully maximize your benefits. This helps to ensure that you receive the dental care that you need in order to maintain your oral health. You can pay for your dental treatments with your Health Savings Account, and we also offer a range of payment options and no-interest finance. To see a full list of our payment options, have a look here.
To find out if we accept your insurance, fill in the form here and we will get back to you as soon as possible.
If you would like more information, or to book a complimentary consult, please don’t hesitate to contact our friendly team today.