Financing Dental Work
Lending Club offers Lakeview Dental patients financial help to pay for their dental treatment using a simple monthly payment plan.
Customers interested in a dental loan simply complete a one-page online application at a secure site. Lending Club leverages online data and technology to quickly assess risk, determine a credit rating and assign appropriate interest rates. Qualified applicants receive offers in just minutes and can evaluate loan options with no impact to their credit score.
The interest rate you will receive depends on the amount, length of repayment, creditworthiness, and type of plan selected. Funds can only be released to the dental office. Therefore, you must first find out the total cost of your treatment before you can finalize the loan agreement. That being said, you can always use an estimated cost to find out if you qualify.
The actual application for our office can be reached at the secure site by clicking here.
Dental insurance is intended to cover some, but not all of the cost of your dental care. Most plans include coinsurance provisions and co-pays, a deductible, and certain other expenses which must be paid by the patient at the time service is rendered. Reimbursement amounts are not, and never have been, a guideline for quality dental care. Dental insurance is not a true insurance. It is more of a benefit that can be thought of as a “coupon” that allows you to save on some of the costs of your dental treatment. These plans are structured differently than medical insurance in that there are large variations in co-payments and fee schedule allowances. There is also an annual maximum dollar amount that your insurance company will pay. Dental insurance is similar to medical insurance in that it is a contract between the patient and the insurance company. The benefits and maximums are based to a large degree on the premiums which are paid. Decreased benefits typically do not reflect on your best treatment options. Dental insurance was never designed to cover all of your dental needs but rather as an allowance of dollars that may help with some of your costs.
We can file most insurance claims for you. It is best to call us prior to your appointment to provide us with your insurance info so we could contact your provider for Benefits Evaluation and expedite your first visit. You can also email us a photo of your card (front & back). If you prefer you can bring your insurance plan information with you on your first visit. keep in mind, that it could take quite some time to obtain the info over the phone due to long hold times. We will be happy to perform a Benefits Evaluation for you at that time. We will work with your insurance company on your behalf to ensure that you receive the maximum benefits to which you are entitled.
A co-payment is the portion of the bill that the insurance company determines to be your responsibility. It’s the most common way for dental plans to limit their costs, thereby providing various plans with an assortment of benefits and price points for the purchaser to choose from. Some plans also take other approaches to limit plan spending, including setting annual deductibles, capping the dollar amount or limiting the number of visits covered within a year.
That depends on your plan. An 80/20 co-payment is common for basic procedures such as fillings and root canals. This means that the dental plan covers 80% of the bill. A 50/50 co-payment is common for major procedures such as crowns and bridges. However, there are many variations, be sure to check your specific plan.
No. The waiving of a co-payment is considered insurance fraud. When you and your dentist sign the claim form that gets submitted to the insurance company, you are stating which services were provided and how much, in total, was charged. The insurance company pays its share based on the assumption that you will do the same.
“Indemnity” or “Traditional” insurance reimburses subscribers (or dentists) at the dentist’s UCR (Usual, Customary & Reasonable fee). This allows the subscriber to go to any dental office without being limited to dentists who are specifically contracted with the insurance company.
PPO (Preferred Provider Organization) is the most common form of dental insurance. These plans provide subscribers with a list of participating (also known as “in-network”) dentists from which to choose. The nice aspect of a PPO plan is that you are free to choose your dentist regardless of their network status. The dentists on this list have agreed to a lowered fee schedule, which provides the subscriber with a lower copayment.
HMO, also known as “capitated” or prepaid insurance, was designed to provide subscribers with very basic care at the lowest rate. Patients must first choose their dentist from the list of participating providers and then they are assigned to that specific office. HMO plans may not pay for services rendered. Fees are usually greatly reduced, but the patient is responsible for paying the doctor. Discount Plans simply consist of a list of dentists who have agreed in advance to accept a reduced fee schedule, with the subscriber being solely responsible for the entire fee at the time the service is rendered. There are no claims to file or annual maximum limits of coverage.
Treatment that is recommended by a dentist, is listed on the insurance plan fee schedule and accepted under the terms of subscriber’s insurance plan.
There are thousands of types of dental insurance plans. It all depends what type of plan your employer purchases and what benefits are included. We do our best to help you understand and work with your insurance policy, find out the allowed annual maximum, any deductibles and eligibility for services. We will also submit all insurance claims for you and willfully attempt to help you receive full insurance benefits. However, you are ultimately personally responsible for your account. Please remember that an insurance policy is a contract between you, your employer and the insurance company, not us.
Because policies can change every year when contracts renew, often without clear communication, we encourage our patients to become familiar with their insurance coverage. We also recommend our patients take the time and understand which policy they are selecting during the Open Enrollment period. Changes in eligibility, maximums, or benefits could result in unexpected out of pocket costs. Ultimately, all charges for services are your financial responsibility should the insurance company not pay.
Like any business, in order for us to keep the doors open to our patients, we have overhead that needs to be paid every month. Therefore, we appreciate and expect payments at the time of the visit, regardless of the dental benefit coverage. If you have insurance we will file your insurance claims as a courtesy to you and will accept “assignment of benefits” on your behalf.
Regardless of what we may calculate your insurance company to pay, it is only an estimate. The financial obligation for dental treatment is between you and this office and is not between this office and your insurance company. Even if we submit a pre-determination prior to the start of any work, it is still not a guarantee of payment. Occasionally approved procedures will get denied at the time of payment! Should this happen we will advise you how to approach the insurance company.
We will do all we can to get the maximum benefits reimbursed for you. Please be aware that some of the services provided may not be covered or may be considered above the “usual and customary.” Ultimately, you are responsible for payment of your account, regardless of your insurance coverage and insurance company’s arbitrary determination of “usual and customary” fees.
Please call our office if your statement does not reflect your insurance payment within that time frame. Your prompt remittance is appreciated. We are here to help.
Payment Plan Options
We offer few options to reduce the total cost or help you with payments:
Advance-payment discount (for non-insured patients):
5% bookkeeping courtesy discount for payment in full by cash or check prior to the start of treatment.
Your treatment plan will include an explanation of all applicable fees, and a breakdown of all costs before treatment is administered. All charges are payable at the time of treatment. For your convenience, we offer payment options to meet your needs.
We accept Visa and MasterCard. We also offer 3rd party financing through Lending Club, allowing you to complete extensive or cosmetic treatment with a payment schedule that fits your budget. Please contact our office to review our payment options to accommodate your financial needs.