There is no doubt that dental procedures are expensive. Even people who have coverage don’t always find it easy to cover costs that are not included in their benefits. Those who have no coverage find themselves in a particularly precarious situation. Before deciding that dental loans aren’t all that important, consider this information. It will help you see why this type of medical lending does make such a difference today.
Many More People Go Without Dental Insurance Than Health Insurance
The case for some type of dental lending resource is easier to grasp if you understand that more people have health insurance than dental coverage. Consider these figures for calendar year 2014 that were provided by the American Dental Association. During that year, 114 million people had not type of dental coverage. By contrast, the number of people with no health insurance was 28 million.
The disparity in terms of health versus dental insurance makes it clear that people need some way to manage dental expenses. The right type of dental loan does exactly that.
Those Who Do Have Dental Coverage Usually Participate in Group Plans Through an Employer
Another figure that should be considered is how people who are insured end up with the coverage. During the calendar year of 2016, 90% were covered through group dental benefits provided by an employer. The remainder purchased individual and family dental coverage on their own.
Even with dental coverage, copays and deductibles can add up to a tidy sum. The nice thing about a loan is that the covered party can pay off those balances over a period of a few months, rather than having to come up with the full amount on the spot.
Many Dental Plans Limit Annual Coverage
Along with copays and deductibles, people enrolled in personal or group plans still have to deal with limits on the annual coverage. Once those limits are reached, any further dental expenses must be paid out of pocket. Given that the average limit is around $1,500 a year, it doesn’t take long to exhaust the benefits. Dental practice loans help to pick up where the benefits leave off and keep dental care from becoming a serious financial burden.
Children and Adults Delay Treatments Because of Expense
What would you do if there was a need for dental care and you lacked the resources to cover the cost? The answer for far too many people is to not seek treatment. According to the National Center for Health Statistics, a report covering the years 2011-2014 stated that 18,6% of children between the ages of 5 and 19 had untreated dental conditions. Adults between the ages of 20-44 who put off treatment came to 31.5%. 12.6% of those between the ages of 45-64 made a decision to not move forward with necessary dental treatments and care.
What was the most often-cited reason for the delay? A lack of funds or insurance.
Delayed Treatments Translate Into Greater Risks
Time and again, studies and even anecdotal evidence confirm that choosing to put off dental treatments accomplishes nothing. The most likely scenario is that a condition will only get worse. It probably will trigger additional dental issues that could have been avoided if the initial problem was resolved in time. People who choose to not have dental care need a way to manage the cost and minimize the risk of developing additional dental problems.
Are you among those who are delaying a necessary dental procedure because there is no money to manage the cost? Talk with professionals who offer dental loans today. The loan terms and conditions are simple, the application process is easy, and qualifying for a loan is not as difficult as many think.