Choosing Insurance: 5 Key Factors In Deciding On Health, Dental, & Vision

Choosing health, dental and vision insurance is not a decision to take lightly. Your coverage will have a direct impact on your ability to obtain the healthcare services that you need. There are several factors to consider when choosing insurance. We’re going to cover five of the most important ones.

5 Factors in Choosing Health, Dental & Vision Insurance

1. Premiums

When choosing health, dental & vision insurance, the cost will be one of the first things that you consider. Your premium is the amount you pay for your insurance policy. Premiums are paid monthly, and if you fail to pay them on time, you risk losing your coverage.

It’s crucial to weigh the cost of the premiums carefully. Are they within your budget? If not, then consider another plan.

2. Out-of-Pocket Costs

Premiums are just one piece of the puzzle when it comes to health insurance costs. You will also be responsible for out-of-pocket costs, which can include:

  • Deductibles: The amount you pay for covered healthcare services before your insurance coverage kicks in. Once deductibles are paid, coinsurance and copayments may still be required, but the insurance company will cover the rest.
  • Co-payments: The fixed amount you will have to pay for a covered healthcare service after your deductible is met.
  • Co-insurance: The percentage of costs you will have to pay for a healthcare service after the deductible has been paid.

Out-of-pocket costs will vary from one plan to another. Generally, the lower the out-of-pocket costs, the higher the premiums and vice versa. Make sure that you are comfortable covering these costs.

3. Network

In most cases, health insurance plans have provider networks. These providers accept your insurance coverage, and you cannot go outside of the network if you want insurance to cover the cost of care.

Medicine, services and providers that are outside of that network may require additional payment or may not be covered at all.

When comparing policies, consider whether your preferred healthcare providers are in the network and accept your insurance.

4. Coverage Limits

Check the policy’s coverage limits, especially for dental insurance. Dental insurance policies may not cover all of the procedures you need or may limit how much they will cover. For example, dental plans often have coverage limits of $1,000-$1,500.

For all policies you are considering, make sure that you keep the coverage limits in mind. These limits will affect your ability to get the care and services you need.

5. Prescription Drug Coverage

Does the plan offer prescription drug coverage, and if so, how much? Most plans will offer some level of coverage for prescriptions, but if someone on your plan requires ongoing medications, you may need a plan that offers more coverage.

Final Thoughts

Take your time when choosing health, dental & vision insurance. Find a plan that fits in your budget but also provides the coverage that you need. Dental and vision plans often have limits that must be taken into consideration, especially if you or a covered family member has ongoing issues with their dental or vision health.


a Dental Insurance Provider

Pro Tips for Picking a Dental Insurance Provider

Dental care is a necessity, but traditional insurance plans do not include dental insurance options. However, with over 90% of people over the age of 20 having at least one cavity, it’s crucial to consider the right type of dental insurance to cover the expense of major dental work.

If you’re trying to pick an insurance policy, consider the following tips to help you get started.

Tips for Picking a Dental Insurance Provider

1. Learn About Coverage Structure

Dental insurance is different from health insurance. Your health insurance provider likely starts paying for 100% of your medical bills after you meet a certain deductible threshold. Dental options are slightly different because they often have a 100/80/50 structure.

The structure is broken down into:

  • 100% of preventative care
  • 80% of fillings, extractions, root canals and similar
  • 50% for major procedures, such as implants, bridges and crowns

If you need to see a cosmetic dentist, this isn’t covered under a normal plan.

2. Research In-network Dentists in Your Area

Since you must go to in-network dentists, it’s crucial to know the options that you have around you. Often, you’ll find a single dentist in the area with some cheaper plans, and if you don’t like the dentist, you have to pay out of pocket for another one.

Before signing up for any policy, always see the in-network options in your area.

It’s always better to find an insurance provider that has many in-network dentists in the area so that you have greater freedom when choosing one. Otherwise, you may have to travel further to go to the dentist, and if you have any serious work done, this isn’t ideal.

3. Ask Your Employer First

You can go and find your own dental insurance, but your employer may have options available. Group insurance policies keep costs down, and if your employer does have this option for you, compare it to what you can get on your own.

Also, you may be able to seek group insurance policies through the following:

  • Seniors may find options through AARP
  • Medicaid may have plans
  • Affordable Care Act marketplace may have opportunities

Again, you can also go and sign up for your own plan at any time.

4. Consider the Wait Time

Many people assume that once they pay their first premium, they can finally go and get the dental implants or major work they’ve been putting off. But, unfortunately, insurers will often only offer coverage for preventative and basic care during the first six to 12 months.

If your premiums over this time exceed the cost of the procedures you need, it may be better to get these procedures before securing your policy.

Finally, you’ll want to be cautious of what your policy covers because cheaper policies will offer less coverage. Consider the dental work you need now and in the future before deciding which policy to choose.

If you’re not sure which dental insurance provider is the right choice for you, work with a broker who can help you find a policy that fits perfectly into your budget.