Dental insurance is an important benefit for small business owners to offer. It can make employees happier and healthier, leading to increased productivity on the job. Small business owners have several group dental insurance options to choose from. These include Preferred Provider Organizations (PPO), Indemnity plans, and discount dental plans.
Cost
The cost of dental insurance for small business owners is an expense but one that can pay dividends. Employees are more productive when healthy; oral care is important to overall health. Poor oral hygiene can lead to cardiovascular issues, diabetes, and other chronic diseases. Dental coverage helps employees stay healthy and can reduce absenteeism. Dental insurance for small businesses offers access to a large network of dentists, reasonable annual benefit maximums, and low monthly premiums. It is also important to ensure that the plan covers what dentists recommend. For example, no one wants a policy that only covers silver fillings when white ones are now the norm. There are several types of dental insurance available, including a DHMO (dental health maintenance organization), PPO (preferred provider organization), and fee-for-service (traditional or indemnity). A DHMO has a network that members must stay within to receive the most affordable care. PPOs have broader networks but can be more expensive. Both have deductibles and copays, and some have maximum rollovers that allow them to carry over unused benefits. Another option for businesses is a business owner’s policy (BOP), which bundles general liability and property insurance, often at a discounted rate. A BOP is a good investment for a small business, especially since it helps protect against lawsuits from injuries or property damage.
Coverage
Dental health is more important than many realize, with dental problems often cascading onto other body parts. Dental insurance is an integral part of any small business benefits package. However, providing it is a significant expense for any small business, especially as dental insurance rates increase. Fortunately, many affordable options exist for small businesses to offer their employees quality group dental coverage. For example, group dental savings plans offer a much more cost-effective alternative to traditional dental insurance for small businesses with limited budgets. When choosing a provider for your small business, look at their customer service ratings, claims history, and provider network size. Also, ensure your plan covers the treatments your dentist recommends for your employees. For example, a program that only covers silver fillings when white ones are available isn’t attractive to your employees. Also, it’s best to select a plan covering new and emerging treatments. Lastly, consider the annual maximum and deductible.
Preventative care
Investing in dental insurance is about reducing costs and ensuring that employees can get the preventative care they need. Oral health problems can often be linked to other medical conditions, such as diabetes and heart disease, and they can lead to higher absenteeism in the workplace. Providing dental coverage can alleviate these problems and increase employee morale. Small business owners need to understand the basics of dental insurance to choose the right plan for their company. A good plan will cover preventative services such as annual exams, X-rays, and basic restorative treatment such as fillings. It should also include major beneficial services such as root canals and crowns and orthodontic treatment such as braces. The type of plan chosen will determine how much it will cost. Generally, PPO plans have a maximum amount they will pay during a plan year, and you are responsible for any expenses exceeding this limit. Many dental insurance plans have an annual maximum of less than $1,500. Indemnity or fee-for-service plans will typically have a larger choice of dentists, but you may have to pay an additional fee since these dentists do not receive any reimbursement. Dental and vision insurance is a key benefit that can attract and retain high-quality employees. Employees want excellent health care and other advantages and are likelier to stay with a company offering these benefits.
Communication
Dental insurance is one of the most affordable employee benefits nearly all employees want. However, it often must be noticed when discussing company-sponsored benefits packages, with medical insurance and 401(k) plans taking top billing. However, small business owners should take advantage of the importance of offering a dental plan. The type of dental plan a small business chooses will impact how much it costs, what coverage is included and the number of visits required. Some traditional dental plans include Preferred Provider Organization (PPO) and Health Maintenance Organization (HMO) plans and indemnity and discount plans. Some programs require deductibles and annual maximums, while others do not.
Additionally, some plans feature schedule-based provider reimbursements that can affect the ultimate cost of a procedure. For example, a dentist might be reimbursed for an amalgam filling but may balance-bill the patient for a more expensive composite or porcelain filling. For some small businesses, it makes sense to wrap dental benefits into a larger group medical plan, but for many, this is different. A separate, standalone dental program provides a safeguard against potential changes to medical coverage that could also affect dental coverage, and it gives a better opportunity for a small business to gear the dental coverage towards the specific needs of its staff.