Small group dental insurance policies can provide valuable benefits to employees and employers alike. As an employer, providing dental insurance can help you attract and retain top talent, and as an employee, having dental insurance can help ensure that you receive proper dental care. However, finding the right dental insurance policy can be challenging, as there are many options available.
What is Small Group Dental Insurance?
Small Group Dental Insurance is a type of dental insurance coverage designed for small businesses with 2 to 50 employees. It provides a range of dental services and treatments, including preventative care, basic procedures (such as fillings and extractions), and major procedures (such as bridges and crowns). Small Group Dental Insurance typically requires a monthly premium payment, and employees may be required to pay a portion of the costs through deductibles, copayments, and coinsurance. The exact terms of a Small Group Dental Insurance plan will vary depending on the insurance company and the specific plan chosen.
Types of Small Group Dental Insurance Plans
Small group dental insurance plans offer coverage for dental expenses for a group of people. The plans come in various forms, including Health Maintenance Organization (HMO), Preferred Provider Organization (PPO), Indemnity, Dental Discount, and Dual Option. Each plan has its own set of pros and cons, and it’s important to understand the details of each type of plan before making a decision.
HMO plans are cost-effective and provide a low monthly premium, but they have a limited network of dentists to choose from. On the other hand, PPO plans offer a wider network of dentists and more flexibility, but they come with a higher cost. Indemnity plans provide the greatest freedom of choice when it comes to dentists, but the services provided may not be covered completely and the patient may have to pay more out of pocket.
Dental discount plans, as the name suggests, provide discounts on dental procedures, but they are not insurance plans and do not provide comprehensive coverage. Dual option plans are a blend the features of HMO and PPO plans and provide a balance of cost and choice.
Factors to Consider For Small Group Dental Insurance Plans
When considering a Small Group Dental Insurance plan for your small business, it’s important to take a number of factors into account. These may include the size of your company, the age and health of your employees, the type of dental services you require, your budget and available funds, and the regulations and laws governing insurance in your state.
Here are some key factors to consider when shopping for a small group dental insurance policy:
- Network: Many insurance plans have a network of dental providers that have contracted with the insurance company to provide services to their policyholders at discounted rates. If you choose a plan with a network, it’s important to understand which providers are in-network and out-of-network. Using an in-network provider typically results in lower out-of-pocket costs for policyholders, so it’s important to choose a plan that offers a network of providers that meet your needs and the needs of your employees. On the other hand, if you choose a plan without a network, or one with a limited network, you may end up paying more for dental services out of pocket.
- Coverage: Check what services are covered under the policy, such as cleanings, fillings, and major procedures. Also, consider the annual maximum coverage amount, deductibles, and co-payments.
- Cost: There are several costs to consider when choosing a small group dental insurance policy. The first factor to consider is the premium, or monthly fee, you’ll need to pay in order to maintain coverage. Other considerations are deductibles, copays, coinsurance, out-of-pocket maximums, and lifetime maximums, and and out-of-network costs.
- Provider Options: When choosing a Small Group Dental Insurance policy, it’s important to make sure the policy includes a good mix of general dentists and specialists, such as orthodontists and periodontists. This will ensure that you and your employees have access to a range of dental services and treatments to meet your specific needs. Having diverse provider options will give you and your employees the flexibility to receive the high-quality, comprehensive dental care that you need.
- Waiting periods: Waiting periods are a common feature of Small Group Dental Insurance policies and refer to the amount of time you must wait before certain procedures or services are covered by the policy. Some common waiting periods for dental insurance policies include basic services, major services, orthodontic services, and periodontic services.
- Customer Service: Consider the policy provider’s customer service options, including phone support and online resources.
- Provider Reputation: Provider reputation is an important factor to consider when choosing a Small Group Dental Insurance policy because it can have a significant impact on the quality of care you receive. A provider’s reputation can provide insight into their experience, skills, and patient satisfaction, and can help you make an informed decision about your dental care. Check the policy provider’s reputation by reading reviews and checking with professional organizations.
- Flexibility: Make sure the policy allows for flexible payment options and the ability to make changes to the policy in the future.
- Employee Benefits: Consider offering additional benefits for your employees, such as discounted orthodontic treatment or cosmetic procedures.
Choosing the right small group dental insurance policy can be a complex process, but it is an important investment in the health and well-being of your employees. By taking these factors into consideration, you can ensure that you find a small group dental insurance policy that provides comprehensive coverage and meets the needs of your employees.
At Abbot Benefits, we specialize in finding the best medical and dental insurance plan for your employee group. We work with a wide range of carriers and leverage our deep market expertise to guide clients to the right dental plan for your needs.