|Having teeth can be expensive!|
2013 has been a year of changes for me. Up until very recently, I’ve never had any type of health insurance whatsoever. I took what I believe to be a calculated risk by forgoing any type of insurance and used those savings to invest in my future.
Just a few months ago I finally caved in and purchased health insurance. While it’s a monthly expenditure I’d rather not have, it’s one that has finally become necessary as I get a little older and health insurance becomes mandatory due to the Affordable Care Act. However, I don’t believe the costs associated with health insurance will in any way impede my ability to retire early.
Taking it now a step further I have very recently signed up for a Dental Plan. I made this move because I visited a dentist a couple months back and was advised I have a total of four cavities. One was rather urgent, three were not. I took care of the urgent one right away, but that particular tooth started causing me some pain after the composite filling. I’ve since been told I need a root canal, but now that the pain has completely subsided I’ll likely seek a second opinion. Obviously taking on the cost of three other fillings and a possible root canal by myself would be against my frugal ways so I decided to seek out a little assistance.
The dental plan I purchased is through Humana Dental. It’s the HI215 Dental Value Plan. It costs $12.99 per month and you can see some of the boring details here. There are no annual maximums, no waiting period, no deductibles, and two included teeth cleanings per year. So, this plan basically pays for itself through the included cleanings! Good stuff. I signed up for this plan through ehealthinsurance.com, which is linked above. I also used ehealthinsurance.com to locate the HDHP that I purchased back in April, so I can say nothing but good things about this service.
Basically, the plan has a lengthy list of every possible dental necessity one may need along with the associated co-pays. For instance, I was quoted $1,800 for my root canal and crown. This plan instead requires a co-pay of $270 for the root canal itself and another $410 for the crown. That’s a total of $680. There may be some other associated, unforeseen costs not factored in for this particular example, but the savings for dental care in the future will be immense.
You’ll now see this added expense in my future income/expense reports, so I wanted to write a short post explaining the new expenditure. Again, I’d rather not have a recurring monthly bill to the tune of $143 for healthcare and dental insurance costs, but the scenario where I need urgent and expensive medical care and have to shell out for it out of pocket is something I don’t even want to imagine! I’ve worked too hard over the last 3+ years to build up a six-figure portfolio to see it vanish instantly because of an unseen health issue that befalls me. At least I have protected my downside to a significant degree and I feel comfortable with that.
How about you? Carry dental insurance? Is it worth it? Is this plan through Humana decent?
Thanks for reading.
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