Is it worth getting dental insurance if I'm self employed?

Ask Doctor Wallin - Q & A

Q - Is it worth getting dental insurance if I'm self employed?

A - Growing up, insurance seemed to be a four-letter word. Probably because my father is also a dentist and he realized early in his career that there is a major difference between dental insurance and conventional health insurance.

"Insurance" may be a misleading term for what you are really getting in dentistry. First of all, the cap of what your insurance pays out annually is usually just a little more than what you pay out in premiums. Being self-employed, you could pay roughly $1,200 a year for your policy and only get back a maximum of $1,500 from your insurance in that year (if you use it all up). Wouldn't it make more sense to call it a "pre-payment plan"?

As your own boss, you may be better off putting your money in a MSA account and not being restricted by your dental insurance, who dictate what doctors you can see and what procedures they will cover. That way your money is available for other things if you need to get it back for your business, and you can even use it to get your teeth whitened - dental insurance would never pay for that. 

Author: Doctor Ryan Wallin D.D.S

Source: Go Gilbert Magazine