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Getting Insurance
My first thought was to enroll in an affordable dental insurance plan with a carrier that included my dentist in their network.
Upside: I would not have to pay a large lump sum upfront. Instead, I would pay monthly premiums to the insurance company in return for ongoing coverage.
Downside: The time that I would have to wait to fix my crown was long. All of the dental plans that I researched would not cover major restorative work right away; most plans make you wait six months to a year before they will cover fixes, like crowns.
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I already had a dentist provider that I trusted. Therefore, I thought about putting the $1,200 cost on my credit card.
Upside: I could get the tooth fixed immediately and with a provider that I was already very comfortable with.
Downside: My credit card balance would grow even more. I already had a healthy balance on my card and I didn’t want to overextend myself; I knew that I could not afford to pay off the balance anytime soon.
Financing It Through Alternative Dental Programs
My current dental provider informed me that there are dental financing programs, like CareCredit and Brighter.com, that help those without insurance set up a payment plan.
Upside: I could spread out the payment of the dental services over time with a lower interest rate than my credit card.
Downside: Unfamiliarity. I was immediately skeptical of these programs and I wasn’t sure if they were trying to pull the wool over my eyes.
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Seeking an Alternate Provider
In Illinois, where I live, there are alternative care programs such as Access Community Health Network that offers outstanding primary and preventive care to uninsured and underinsured individuals. Check your state to see if they have a similar program.
Upside: The out-of-pocket cash cost of fixing the dental problem is a lot lower than a private provider.
Downside: Finding a dentist that is available and that I have a high level of comfort with was harder than expected.
After doing my research, I ended up financing the cost of my broken crown through an alternative program. Based on my credit profile, they offered me an opportunity to pay back the $1,200 over six months at 0 percent interest. Now, if I do not pay back the total amount in full, I will have to pay 22 percent interest on the total amount of the $1,200. Ultimately, I went with this option because it fit with my goals of quickly fixing my crown without paying a lump sum of money at once.
Make sure you consider the upsides and downsides of your options, and pursue what is right for you based on your goals and your situation.
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Image: iStockphoto
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