Dental benefits rank among employees’ most desired workplace perks. Small business owners can offer standalone dental insurance options or group plans through the Small Business Health Options Program (SHOP).
Choosing the right dental plan for your small business can significantly improve employee satisfaction. Read on for an overview of the options and tips to help your decision-making process.
Timing of Care
The timing of care can make or break your dental coverage. Many small business owners may be surprised that their dental insurance for small business plans only covers some procedures once a specified time has passed. This can be frustrating for employees needing dental care in an emergency. These services include dental implants, root canals, and oral surgery.
Understanding the timing of care for your employees can help you select the best dental plans for your business. You will need to consider the specific needs of your employees and their families and evaluate if you can afford the monthly premiums, deductibles, copays, and coinsurance associated with each plan.
Dental insurance is often provided by employers and only remains active if the employee continues to be employed by the company. However, individual dental insurance can also be purchased as a standalone policy or an add-on to medical coverage.
Providing dental insurance to your employees can help you attract and retain quality talent. It can also promote a healthier workplace by encouraging employees to attend work regularly and practice good oral hygiene.
Cost
As with any insurance product, dental insurance isn’t free. But it’s a significant employee benefit that’s generally less expensive than offering group health insurance, which is often a prohibitive investment for small businesses.
In addition to comparing prices, it’s essential to consider insurance companies’ reputations and financial stability. The Better Business Bureau rates business insurance companies, and you can also check a company’s ratings with A.M. Best, a credit rating agency specializing in the insurance industry.
A dental plan should cover preventative care, including annual exams and X-rays. It should also cover primary restorative care, such as fillings and gum care, and significant remedial work, such as crowns or dentures. Some plans may include coverage for orthodontic care, including braces.
Traditional dental insurance comes in four types: Preferred Provider Organization (PPO) plans, Dental Health Maintenance Organization (DHMO) plans, Indemnity Plans, and discount or savings plans. The best plan type for your employees will depend on the amount you pay each year and what you expect from your employees. PPO plans offer the most flexibility but are generally more costly, whereas DHMO and indemnity plans require a deductible and usually have limited networks. Discount plans are a low-cost alternative to traditional insurance and are typically offered with a health club membership.
Coverage
Poor oral health contributes to many other ailments, including heart disease, infection and inflammation, diabetes, and osteoporosis. This can directly affect a business’s bottom line by reducing employee productivity due to lost time and stress from medical issues. Dental care coverage helps employees access the care they need to remain healthy and happy on the job.
A good small-business dental insurance plan will cover preventative services like annual exams and x-rays and essential restorative work such as fillings. Many plans will also cover orthodontic treatment, such as braces. However, not all dental insurance plans are created equal. It’s essential to familiarize yourself with each plan’s coverage and out-of-pocket costs before choosing one for your small business.
Whether you opt for an insurance plan or a group dental savings plan, look for an insurer with a high customer satisfaction rating and a value rating considering monthly premium and service coverage. Also, find a project independent of the medical provider to avoid any disruptions in coverage should your client’s medical plan carrier change.
Access to Dentists
Most small business owners understand the importance of offering dental insurance to their employees. However, the costs of providing this benefit are a concern. A small business owner needs to know that there are ways to minimize the cost of dental insurance.
The first step is to understand your employees’ needs thoroughly. This includes collecting insights from employee surveys or discussions. This will help you determine what level of benefits will be most beneficial to your staff.
A key consideration when choosing a dental insurance plan is how convenient it will be for your employees to visit a dentist. Most dental plans are offered through a network of providers, and if your employees see a provider outside the web, they may face higher out-of-pocket costs.
Many small business owners offer dental insurance through a preferred provider organization (PPO). These plans typically have extensive networks and provide more flexibility in selecting a dentist. Another option is a health maintenance organization (HMO). While HMOs have smaller networks, they typically have lower premiums and require patients to see in-network providers for coverage.
