One of the major employee benefits all businesses should extend to their workers is dental insurance. So what should you keep an eye out for when you want the best policy?
Open enrollment season is upon us and in an ever-changing job landscape, that can add to the stress of our weekly routines. After all, no one can say with any certainty what this time next year (when the current insurance coverage period expires on October 31) will look like. One of the major employee benefits all businesses should extend to their workers is dental insurance. So what should you keep an eye out for when you want the best policy? Let’s find out!
How Do I Find the Right Coverage?
So first off, let’s talk about finding the right coverage for you and your dependents. Once upon a time, dental care and coverage were simple and streamlined. One could even argue that it was relatively straightforward. You paid out of pocket and the insurance company would reimburse you later on. Your dentist would help you arrange an ongoing billing plan, which prevented a large upfront lump sum from being a financial hardship. Today, this type of coverage is also known as “indemnity dental insurance.”
What Does Indemnity Dental Insurance Mean?
Now we can discuss the meaning of indemnity dental insurance. The dentist will present your insurance company with a bill and then consider your outstanding insurance claim. Sometimes, you can make direct payments to your dentist that go beyond simple copays. A pre-claim or claim review can help ease the sting of financial expenses, but you will have to endure standard waiting periods, missing tooth clauses, and limits applied via so-called “pre-existing conditions” that prove to be exceptions to coverage. For this reason, you will want to purchase excellent dental insurance plans before the day comes that you will actually need them.
What Potential Alternatives Can I Choose From?
That said, you have other options. A basic dental plan will cover the bare necessities, but you won’t receive as much monetary compensation or help as you might expect. The preferred provider or in-network policies vary in price. Dental insurance can be packaged with a dental savings plan, and this combination is very important when you approach your annual cap and need more funds to pay for additional dental services. These plans can help you save more cash, won’t include annual caps, and no waiting period is present. Moreover, you aren’t hampered, restricted, or limited by the possibility of preexisting conditions.
A Customer Testimonial
This week, we have yet another pleased customer to tell you about! Pamela J. McAlexander of Antony International Solutions needed help with open enrollment. She said she had a great experience thanks to the efforts of Dale and Erika. Remote work and time zone differences made effective coordination much more challenging. An address change due to an out-of-state transition was quickly attended to right away. All in all, Pamela would recommend MWE’s services to a friend, coworker, or business partner.
Get Your Voluntary and Supplemental Insurance Policies with the MWE Partnership!
Are you a business looking to provide your employees with essential voluntary benefits? If so, look no further than The MWE Partnership. When you choose The MWE Partnership, you get experienced service and comprehensive voluntary benefit options that will meet the needs of all your employees. With over 17 years of experience, The MWE Partnerships is your one-stop-shop for all your supplemental benefit needs. If you are interested in finding out how The MWE Partnership can help your business, then contact us today! Also, be sure to like our Facebook page and follow us on Twitter and LinkedIn for all the latest voluntary benefit news!