Principal Dental insurance plans offer enrollees the opportunity to join an employer’s group dental coverage. In addition, employers can choose to customize their dental coverage to fit in their annual budgets.
What Is Principal Dental Insurance?
As a group dental insurance provider, Principal allows businesses to:
- Pay for the entirety of their employees’ insurance
- Cover just part of the insurance premiums
- Cover none of the insurance premiums
Nationally, 50% of dentate individuals between 18 and 64 had some level of dental insurance in the past 12 months. As the job market remains highly competitive, employers that offer group dental insurance improve their odds of hiring top-tier talent.
Principal Dental offers:
- Preferred Provider Organizations (PPO)
- Dental Health Maintenance Organization (DHMO)
Depending on the state, various options may be available.
Customizable Options for Businesses
Group dental insurance plans have numerous customizable options that influence the business’ expenditures and bottom line. When determining the right choice for your business, you’ll need to customize:
- Coinsurance
- Deductibles
- Options
Businesses can alter the deductible of the employee to match the financial constraints of the business. Higher deductibles for employees mean lower expenses for the company. Management must sit down and come up with a custom plan that maximizes the group dental benefits offered while also remaining within the business’ overall budget.
Principal Dental has an annual maximum refreshment as well as deductibles being waived under certain conditions. Employees also gain access to a mobile app that outlines their benefits and makes it easy to obtain ID cards.
How Group Dental Plans Work with Principal Dental Insurance
Principal Dental follows a standard, three-category system for dental services:
- Preventative. Routine exams and cleanings are part of the preventative care offered through Principal Dental and are 100% covered through insurance.
- Basic. Cavities that require fillings would fall under the basic care category, where 80% of the cost is covered by insurance and 20% by the employee or employer.
- Major. A major procedure, such as a dental bridge or root canal, will have some costs covered by insurance and the rest an out-of-pocket expense for the employee.
Employees will receive a comprehensive list of procedures that are covered through their insurance and which are not. Transparency allows employees to opt into group plans with confidence that the procedures they need the most will be covered as long as they’re listed.
When employers offer group dental insurance through Principal, they’re joining a massive network of nationwide dental providers that their employees can leverage to maintain optimal dental health.
In-network and non-network coverage options are offered, and out-of-network deductibles are combined to quickly help employees meet their deductible limit.
Principal empowers employees to recommend their own dentist for inclusion in the network. If an employee is happy with their own dentist, the ability to continue using the same dentist is crucial.
At ClaimLinx, our consultants can help business owners find group dental insurance that meets the needs of their organization.
Small and large businesses that offer group dental insurance can increase applicants for a position, improve employee satisfaction and boost employee retainment through insurance options.