Monday, March 3, 2014

READ THE FINE PRINT: Are You Getting The Best "Bang For Your Buck"??

Time after time company policies, extra hidden charges and the other things that companies do not want to see but have to tell you are written in very small print, smaller than this. This is in an effort to make it so overwhelming and defer you from reading it so you can focus on their bigger message, which usually looks something like this:


Now honestly, how many of you actually read the paragraph at the top of the page? You see, this is what companies bank on. The fact that you will just read the larger print and purchase whatever they are saying.

This rings especially true in the dental insurance and dental plan industry. More and more plans or policies are being presented with a low monthly fee that is very enticing to consumer. However, are you really getting the best bang for your buck? Let's check it out and see. Let's take 2 companies, Company A is charging 15.00 a month for your whole family. Company B is charging 179.00 per year for your whole family. Before we go any further, right now most of you will probably think that the 15.00 a month is a better deal.. it is lower number marketing.. but if you take 15.00/mo X 12mo, you get 180.00/year. 

So let's read the fine print now. Company A has over 2000 dentists, covers a  wide range of procedures at 30-70% off of your dental work and 20% off of a specialist. Sounds good so far ehh? However, in the really small print it says : any procedure not listed on the this fee schedule will be charged at the dentists usual and customary rate. Did you catch that? That means that if they didn't list the cost of the procedure, then you will pay full price at the dentist office. Then let's look at the actual fee schedule. Cleanings, Exams, X-Rays are covered at 70% off. VERY NICE!! But what happens when you a filling or a crown? They are covered at 45% off. Okay that's not bad. Dentures or Braces? 30% off! It's better than paying full price. However if you have failed to read the fine print, saw the 70% off and assumed that every procedure was discounted that much, then you will pretty upset when you get your bill.

Now let's look at Company B, they have over 500 dentists. They cover a flat 50% off of your dental work and 25% off of a specialist. Sounds good.. let's go to the fine print: Every procedure not listed this fee schedule shall be cover at 50% off the dentist usual and customary rate. Did you catch that one? That means that even if the procedure is not listed then you are still getting a 50% discount. Whether it is a cleaning, xray, filling, crown, braces or dentures, you are still getting a 50% discount.

So I ask.. which one is the better deal? Company A - is 180.00/year for a family, with 30-70% off, 20% Specialist, and unlisted procedures not covered. Company B - is 179.00/year, 50% off of everything, 25% off of specialist and covers unlisted procedures at 50% off. 

It is obvious that with Company B you are getting more "bang for your buck". Company A looks very enticing with their low numbers and high percentages, but it will leave you paying more in the dental office.

So I leave you with this: When you are looking for Dental Coverage, read the fine print. Research and make sure you are actually getting what is being offer in the big bold colorful letters.

To compare various dental coverage options, you can go to our comparison zone on our website.

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