Individual and Family
Finding Low-Cost Dental Insurance and Vision as an Entrepreneur
Published on January 11, 2018
With the entrepreneurial mind, you’re used to taking risks in order to benefit financially. But you don’t need to take risks when it comes to your dental hygiene and vision. With a careful look at your options, you can manage your risks by getting low-cost dental and vision insurance.
Self-employed dental insurance and vision insurance for entrepreneurs
If you are searching for “Self-employed dental insurance” and “self-employed vision insurance”, this really means you’ll want to look at individual or family dental and vision plans. You can use eHealth.com to compare premiums and find low-cost dental insurance and vision plans designed specifically for individuals and families. But before you set out to find low premiums for dental and vision, make sure you read about choosing the right low-cost dental insurance and vision plans for you.
Tax credits for the self-employed
Before you rule out self-employed dental insurance because of the cost, you might be happy to know that there could be tax credits available to you for buying self-employed dental insurance and vision or for paying for dental or vision care.
If you pay for your own self-employed dental insurance and/or vision plan, you might qualify to deduct the cost of the premium that you paid for yourself, and possibly even the amount you paid to cover your dependent, depending on your circumstances.
This article is only for general information and is not tax or legal advice. Consult your tax or legal advisor for guidance.
Choosing a vision plan if you’re self-employed
Here are three options with vision plans if you’re an entrepreneur:
- Vision benefits packages are similar to health insurance plans—you pay a deductible (which will most likely be much lower than health) and the plan has set limitations of services it offers and products it covers.
- Discount vision plans usually give you a percentage off of whatever vision-related costs you have. For example, your plan might cover 20%, and then you pay the rest for whatever eye care costs you have.
- No plan! If having vision insurance will not save you any money (perhaps because you spend nothing, or very little, on vision-related costs) then it may turn out that paying for these infrequent treatments yourself will cost less than paying a monthly premium.
Visit eHealth.com to compare individual vision plans starting as low as $6/month.
Self-employed dental insurance
Oftentimes dental insurance, including self-employed dental insurance, focuses on covering preventative care more than anything. In most low-cost dental insurance plans, this includes services such as cleanings, checkups, and x-rays. These services might be covered up to 100% depending on your plan’s details.
The National Association of Dental Plans identifies four types of dental plans:
- Dental Health Maintenance Organizations (HMOs) is a type of dental plan that provides dental benefits to enrollees by using a contracted network of dentists. This type of a plan has a fixed monthly premium.
- Dental Preferred Provider Organizations (PPOs) have contracts with providers so that enrollees get discounts on overall fees. With this plan, you can choose to go outside of the network of contacted providers, which may result in reduction of coverage.
- Dental indemnity plans are commonly known as fee-for-service or traditional plans. They often give you freedom to visit whatever dentist you want, and you most likely won’t have to get referrals for procedures. With an indemnity plan, your insurance will typically pay a percentage of covered dental services once you meet your deductible.
- Discount dental or savings plans are designed for individuals, families, or groups looking for low cost dental care. Essentially, participating dental care providers accept a discounted fee from enrollees who pay a yearly fee. In most cases, there are no deductibles, co-pays, or waiting periods. These types of discount plans typically are not considered insurance.
As an entrepreneur seeking self-employed dental insurance, it’s important to consider what you want out of dental care. Understanding what is offered with different self-employed dental insurance plans might help you see what’s the best financial choice for you.
Find low-cost dental insurance on eHealth.com with low premiums starting as low as $8/month.