By Craig Vaughn | Posted: Saturday, September 27, 2008 12:00 am
In an increasing number of surveys done by industry organizations, employees have ranked dental insurance as a highly desired workplace benefit. Costing only a fraction of the cost of health insurance, dental insurance in the workplace is a popular benefit among workers and can be an important part of a well-designed overall benefits package that can help attract and retain good employees in an increasingly competitive market.
As you would expect, there is an array of options available to fit the needs and budget of most any organization. Some plans are "employer sponsored" which means the employer pays anywhere from 100 percent of the premium cost to sharing the premium cost with the employee who contributes through payroll deduction. Other types of plans available are called "voluntary" plans which are offered by the employer. The employee can then choose whether or not they would like the coverage and pay the full cost of the premium. In either case, there are myriad options that can complement the employee benefits package at most any qualifying organization.
Recent polls rank dental coverage as one of the top five benefit factors weighed by employees when considering job offers. It is a key component in an overall package aimed at attracting and retaining quality employees.
Good dental care can help prevent illness and keep you healthy. Good dental insurance has been proven in studies to encourage people to see dentists because people with good dental insurance benefits can usually easily afford dental checkups, cleanings and other basic preventative treatments. This helps them take care of their teeth properly, preventing disease and other serious dental problems.
Dental insurance can help safeguard financial health. Certain dental procedures today can cost thousands of dollars, which can adversely affect many budgets and create a real financial burden for some people. With good dental coverage in place that provides a high level of coverage and benefits, one can have peace of mind in knowing they have adequate coverage in place to help cover the cost of most commonly covered dental procedures.
Here are a few other thoughts to consider:
- Affordability: Dental plans are generally considered to be relatively affordable. Oral health in America has improved because of the dental profession's promotion of fluoride, sealants, and other preventative dental care. The cost of dental treatment has risen at a rate less than that of medical care and physician services.
- Prevention: Dental disease is often preventable. Preventative care is especially important since dental disease does not heal itself.
Cost-effectiveness: If decay or disease is detected, the sooner it is treated, the less costly that treatment will be.
- Cost-predictability: Although the need for dental care varies widely, the dental needs of an employee group are highly predictable. For this reason, many dental plans can be offered on a self-insured basis. The risk of wide fluctuations in cost and utilization, evident in many medical benefits, is rarely observed with dental statistics.
A qualified, experienced, insurance broker can advise you in developing a tailored benefits plan that will meet your company's needs and your budget.
Craig Vaughn is director of sales for David Benefit Consulting, a division of David Insurance Agency, which has offices in Racine and Kenosha. David Insurance is a full-service, independent insurance firm providing risk management and benefit consulting services to client companies and individuals.