Group
dental insurance plans have been growing rapidly placed in the niche market of
employee benefit programs. A few years back, dental insurance was a
non-descript part of employee benefit programs and very simple to plan and
execute. Most plans used were for full coverage of preventive care and
cleaning, 80% coverage for basic restoration and 50% coverage for major
restorative services like crowns and bridges. Despite advice many employees
never visited their dentists resulting in the overall cost of insurance being
low and stable compared to general health benefit plans which rose year after
year. For many years dental insurance was a simple rider for employers who took
it major plans from big insurance companies.
The
last few years saw a spurt in television advertising and as the smiles
brightened on the idiot box, the importance of whiter smiles and straighter
teeth became apparent and people started taking more interest in dental care.
This in turn saw a spurt in rise of dental insurance premiums almost at the
rate of 7-10% a year. This rate is significant and big employers started
looking at it with a bigger eye. This tells on the bottom-line of the company
since the employee benefit expenses are going up due to this rise. The dental
insurance costs about 10% of the total employee benefits for a corporate today.
So the rise in premium year after year, pushes the total employee benefit
expenses 1% higher year after year.
"Employers
aren't paying that much attention yet, but considering the way dental plans are
evolving, they should," says Donald S. Mayes, dental plan auditor and
consultant from Hershey , Pennsylvania
Always research different plans and remember that discounted dental plans can be as effective as dental insurance without the monthly cost. Dental plans offer a one time fee with yearly benefits.
