All dental plans are NOT created equal!
For most employers who purchase dental plans, there is a belief that “dental plans are dental plans” and there is not much of a difference between the various choices they can make. This couldn’t be further from the truth!
There is a tremendous amount of variation between plan designs, network discounts, funding mechanisms and underlying plan features. These combinations can have an enormous impact on the amount spent on these plans by employers and an even more significant impact on the out-of-pocket expenses incurred by the covered employees and their dependents. What’s even more shocking is that some of the most expensive plans on the market today actually deliver some of the lowest benefits to the covered employees and their families. In other words, there is NOT a direct relationship between pricing and the caliber of the benefits received. This is a truism proven over and over again by Bender Benefits. You can have better benefits than you currently have at a lower price than you are currently paying.
For example, many of the leading plans on the market today offer “in network” discounts giving employees the belief they are receiving discounted dental services when in reality, their “in-network” discount can be as low as 3% off a dentist’s full, retail pricing. Other networks offering wide access to a large number of high-quality dentists can deliver up to a 50% discount for the same services. This has the effect of cutting an employee’s out-of-pocket expenses in half while also making their annual maximums go much further which reduces out-of-pocket expenses even further.
The twofold approach of navigating employers through the myriad of choices along with a robust employee education program can deliver dramatic, positive changes for both sides in an absolute win-win scenario for employers and employees.