Dental Implants with Low Monthly Payments
Of all the tooth replacement options available, dental implants are one of the most popular treatments among adults in the United States. This is because implants offer the long-term stability and durability that many other treatments do not. However, dental implants can be a big investment and the cost may be a major barrier for some patients. If you are trying to decide if dental implants are right for you, you should do a bit of research on the procedure and the estimated treatment cost. Below is more information on dental implant treatment, the estimated treatment costs, and ways to cover these costs.
What are Dental Implants?
Dental implants are titanium or ceramic posts that are inserted into the jawbone during surgery. After the surgery, the bone fuses to the implant post holding it in place during a several month healing process. Implants are designed to act like the root of a tooth, restoring function, providing stability, and securely supporting an artificial crown or prosthetic dentures. Most alternative tooth replacement options, like dentures or a bridge, are not permanently secured in the mouth, causing shifting, rubbing, and irritation. Due to their design, dental implants offer stability and durability that the alternative tooth replacement options do not.
The Cost of Dental Implants
The estimated cost of dental implant treatment is influenced by a number of factors. Recent studies suggest the average cost of dental implant treatment for one implant is between $1,500-$6,000. The cost of the implant surgery, the implant system components, and any additional hardware or procedures are included in this estimate.
Why Does the Cost Vary?
The cost of dental implant treatment can be difficult to estimate because the costs can vary greatly. This is because the estimated costs will depend on a number of factors, including geographic location, the expertise and years of experience of the dentist, and the implant system selected. The implant system is a large portion of the cost. Implant systems from well-established companies have research and evidence to back their success, however, these systems may cost more. Implants manufactured by local dental labs are potentially a more affordable option, but there is less evidence of their long-term success. If you are thinking of investing in dental implants and trying to estimate what the treatment will cost, you should have a discussion with your dentist about what procedures you will need, what implant brands they use, and their estimated costs for implant treatment.
Discount Plans
Dental discount plans are a popular option to cover the costs of dental implant treatment. Discount plans often cover from 4-50% of the total treatment costs. To see if a discount plan is an option for you, you may need to do some research and investigate if discount plans are available with your provider and if you qualify.
Financing Dental Implant Treatment
Many patients receiving dental implant treatment have to cover a portion or the treatment costs out-of-pocket. If you are considering implant treatment, it is important to know that the treatment is often not covered by dental insurance policies. However, there are alternative financing options available. Some of these options can even involve low monthly payments, making the investment more feasible for many. Most of these financing options require a good credit score to qualify, which can pose a challenge to many patients making it more difficult for them to finance the cost of implant treatment. If you are considering dental implant treatment but do not have a great credit score, there are still a few financing options available for you, including:
Sub-Prime Lender Financing
if you don’t qualify for a standard credit-based medical loan, your dentist may suggest you try applying for subprime lender financing. Standard credit-based medical loans typically require a credit score of 640 for approval. On the other hand, subprime lenders look beyond the credit score to the patient’s financial history, income, employment history, and other available information. It is important to know that these additional considerations come with a cost. Subprime lender loans often come with higher interest rates and additional origination fees and may result in longer pay off terms for the borrower.
Personal Loans
Another option for patients with low credit scores who need help covering the cost of dental implant treatment is to apply for a secured or unsecured personal loan. To qualify for a secured loan, the patient will be most likely need to leverage some collateral, or an asset that they own, such as a car or physical real estate property. This collateral increases both the chances of approval and the loan amount. Unsecured personal loans do not require any collateral. It should be noted that qualifying for a personal loan with bad credit can be difficult. A patient who doesn’t qualify for a credit-based repayment plan or financing option may have trouble getting approved for an unsecured personal loan.
Flexible Pay-Over-Time Plans
Another option is a pay-over-time lending option. Third party lenders, like Healthcare Finance Direct (HFD), offer payment plans that work for all patients, even those who do not qualify for traditional financing options due to a low credit score. These third party lenders partner with dental practices to help increase the practices ability to treat all patients, even those who cannot afford to pay for treatments out-of-pocket. Lenders such as HFD use a data-driven process that takes into consideration patient information beyond their credit report to assess the risk of loaning to a patient. The lender uses the data to establish the loan agreement terms, including a down payment. Through these systems, interest rates are set that decrease the provider’s risk while also allowing the provider to keep the interest on the payments. The established payment plan, which can include relatively low monthly payments, are directly debited from the patient’s account, decreasing the burden on the dental provider and the lender to track down payments. These flexible pay-over-time systems offer many benefits to both the dental provider and the patient.