Financing Options For Orthodontic Treatments
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The best way to afford braces for each child is to start saving up money from the day they are born. Unfortunately, many families just don't have a chance to do this when bills and appliance repairs use up the savings. However, that doesn't mean that your children have to skip the braces or orthodontic treatments you need. There are plenty of flexible options for financing the costs of dental care for children and adults alike. Learn about all of the ways of covering the costs of orthodontics to pick the method that works best for you.

Get Your Estimates

Start out your quest for financing by determining exactly what you will need to spend. It is best to go ahead and spend the small amount a consultation will cost in cash to go ahead and discover what kind of treatments might work for you or your child. Braces can run from $2,000 to over $10,000 depending on the equipment needed, the number of visits for adjustment, and any surgeries or extractions that are required. You will need to see an orthodontist before you have any idea of how much money you need to raise for dental care – or if it is needed at all.

Help From Health Insurance

Your health insurance plan may cover some orthodontic care as part of dental coverage. Check in with your human resources manager if your employer provides the plan. They can quickly determine what is covered and what deductibles apply to the work. You may have to find additional financing for the first $1000 of cost that isn't paid for by the insurance plan. Some families find it worth investing in a separate dental plan just to help defray the costs of orthodontic care. Most health insurance companies want to know if the care is for physical problems or cosmetic solutions, which will determine if they pay for it or not.

In-House Financing

Our office provides financing options right in the office for families who don't want to pay for the entire treatment up front. The agreements give you a chance to make affordable monthly payments spread out over the years as your child's jaw develops. Work with a team that wants to meet your financial needs to save money while leaving your savings intact to protect your family in case of an emergency. There's no interest as long as your payments arrive on time, making it far more affordable than other financing options.

Financing From A Lender

Some individuals may not qualify for in-house financing for dental work. Seeking loans from third party lenders is often helpful if you have collateral and want to use it to secure what you borrow. However, these types of borrowing also come with varying interest rates and payment plans. Weigh them carefully against the interest-free option before signing contracts to borrow from your bank or mortgage lender.

Home Equity Loan

Homeowners that have paid off their mortgages or at least a majority of the amount borrowed may be able to get a home equity loan for the total amount for the treatment. Paying upfront for years of ongoing care can help you qualify for discounts. Interest rates are usually low when you only borrow a small percentage of your home's value, and the house itself is the collateral to secure the loan.

Payday or Short-Term Loan

For immediate care and payment of individual visits, consider a short-term loan from a local lender. You may only need to provide proof of your pay stub to get a few hundred dollars for a full adjustment or a much needed extraction. These loans require quick payment, but they work well if you have a paycheck on the way that will cover the costs. Unfortunately, high interest costs often kick in on these loans if they last longer than a few weeks.

Orthodontic and Dental Lenders

Some patients may be referred to a third-party lender for dental credit. There are lenders that specialize in orthodontic care to help you control interest costs and related fees. Since the companies providing this kind of support know that families using the credit don't have a lot of cash on hand, they set up affordable payment plans to spread the costs out. Interest rates can vary, so don't be afraid to shop around rather than accepting the first credit offer that comes your way.

Credit Cards

Finally, don't forget about the immediate lending option of a credit card. Even a card with a low limit can cover the cost of a visit. Paying off the balance between visits frees up your borrowing ability and prevents you from overspending on interest. Many families find this the most convenient option. You can even use this method of paying for care to build airline miles or gain benefits from your card company.

Requesting Discounts

Patients that are strategic with their payments may qualify for numerous discounts. Lenders specializing in dental financing often reward clients for paying off the debt early. Belmar Orthodontics also provides a 5% discount for anyone that pays the total outstanding amount at once. Keep in mind that paying off the principal of any loan brings down the interest that accrues each month. Using our in-house financing is the easiest way to avoid the cost of interest altogether, leading to further savings in the long run.

Breaking Down The Work

Nearly all patients spread out their treatments over months and years. While this is required for children to guide their jaw to proper growth as they develop, adults choose it too because it makes it easier to afford the costs of braces and jaw adjustment. Saving up a little from each paycheck may be all you need to afford office visits if you only need to see us every six months or so.