Dental implants are one of the most effective ways to replace missing teeth. With the added benefit of supporting bone health, dental implants are natural-looking and durable with the ability to last a lifetime. Dental implants are one of the more expensive restorations but in the long run, are often more cost-effective than other treatment options.
How much do dental implants cost?
Factors that impact the cost of a dental implant include geographical location and the expertise of your doctor. Patients that live in a metropolitan area can expect to pay more than those who live in a more rural area. The overall cost of dental implants can run up to $8000, with the implant placement running between $1500 and $3000 per site and the restoration adding on a range up to $5000 per site.
Dental Implants With Low Monthly Payments
Dental implants can be a costly treatment option but you may be able to lessen the impact of your out-of-pocket cost with different payment options.
Dental insurance
Dental insurance can be confusing and it is important to understand your plan and benefits. Unfortunately, dental insurance has not caught up to the importance of dental health so most plans only pay between $1500 and $2000 per year which may not cover the cost of your implant. It is also important to note what your plan will cover if you need to get an implant. Some plans will cover some of the cost of implant placement and then not cover the restoration while others may cover some of the cost of the restoration but not the implant.
One way to maximize the benefits of your dental plan is to spread your treatment out over the course of two benefit years. Towards the end of one year you can have the implant placed and then in the beginning of the next year, I have it restored.
Dental Discount Programs
An alternative to traditional insurance is a dental savings plan. Unlike insurance plans, a dental savings program does not have a waiting period before you can take advantage of your benefits. The day you join a discount program, you can begin to use your new benefits. A dental savings program can save the patient between 10% and 60% on dental care, including dental implant treatment.
A discount program is an affordable option for patients but it is only good for the treatments specified within the plan so make sure that you select a discount plan that can be used with your proposed treatment and be sure that your dentist accepts your chosen discount plan.
Even if your dentist is not in the discount program network, there are many qualified dental professionals with whom you can take advantage of your discount program. Dental discount programs prescreen dentists and dental specialists before accepting them into the network so, you can be sure that you are receiving quality care.
Payment Plans
Some offices may offer in-house financing to enable their patients to receive treatment without taking a huge hit to their wallet. When your dentist reviews your treatment plan with you, it is important to understand what in-house financing options they offer, if any, and plan accordingly. Setting up a payment plan with your dentist can help avoid the additional cost of interest that may accrue with other financing options.
Pay-Over-Time Plans
Another great option is payments through a third-party financing company. This type of financing usually works for any patient, including those with a low credit score. This is a great option that some offices may offer in order to provide treatment to patients who would otherwise be unable to receive quality dental care. Third-party financing companies that offer flexible pay-over-time plans take more into consideration than the patient's credit score. They may require a down payment and interest will accrue during the term of the loan.
Medical Loans
Financing companies that offer medical rounds typically require a credit score of at least 640 and are often accepted by medical professionals, including dentists. If this is an option for you with your dentist, make sure you understand what terms your dentist accepts. This type of third-party loan often has loan terms ranging from six months to five years but your dentist may only accept terms of 6 to 12 months.
For this type of payment, the patient applies for the loan and uses that loan to pay their dentist in full. Payments against the loan are then made directly to the financing company until it is paid off. Some companies offer plans with "deferred interest" which means that while interest is accrued, it may not be applied to your final balance if the loan is paid off within the promotional period. For example, if you have a six month loan with deferred interest, the interest will accrue but if you pay your loan off within the six months, you will not have to pay the accrued interest, only the base loan amount.
Personal Bank Loan
Patients with a good credit score may be able to receive an unsecured loan for dental implants. An unsecured loan simply means that no collateral is required to receive funds. If your credit score is on the low end of the spectrum, it is still worth looking into a secured loan. A secured loan requires collateral such as your car title or real estate deed.
Your bank may also be able to offer a line of credit which would allow you to use the funds as you need them instead of being issued one lump sum so if you do not need the full amount, that can be credited back to the loan. A revolving line of credit would give you the flexibility of using funds, repaying them, then using them again if needed, like a credit card.
Sub-Prime Lender Financing
This is another type of third-party financing that also uses more than just your credit score when determining risk of lending. Factors such as income, employment history, payment history, and other credit information is gathered and assessed to determine if the patient is a good investment. Sub-prime lenders require a down payment or origination fee and interest will accrue during the term of the loan.