Orthodontists estimate that up to 45% of children need braces to fix serious dental issues like misalignment and other potentially debilitating dental problems. But there are additional health benefits of wearing braces beyond simply correcting functional issues. Having straight teeth boosts kids’ confidence and self-esteem, and teeth that aren’t crowded together are easier to clean and are less likely to develop plaque build-up. Crowded, crooked teeth offer perfect hiding spaces for bacteria, and cavities are often the result.
Parents are frequently floored by sticker shock when they realize that pair of braces is going to cost
$5,000, $6,000—even $8,000. This is where health savings accounts (HSA) can come in handy, especially for those who don’t have a dental insurance plan. HSA plans through carriers like Lumenos are an excellent way to save for orthodontics.
Perhaps the most important feature of an HSA is that the money you save in the account is not taxed. This can add up to huge savings, especially if you’re in a higher tax bracket. If you save $6,000 in an HSA for a set of braces and you’re in a 25% tax bracket, for example, you’re saving a whopping $1,500.
Orthodontists recommend that kids have their first orthodontic checkup around age 7. Early visits will help parents determine whether they may need to start saving for a set of braces. Setting up a health savings account will ensure they are able to save the needed money over time.
Benefit Packages is a licensed insurance agency that has been serving the California health insurance market since the late 1980s. Call us today at 1-800-356-3615 to find out more about a health savings account and how it can help you save thousands for essential dental and medical expenses.