Autumn, Insurance, Rocks, and Hard Places

The season's changing rhythm is knocking at our doors. It's that time when we bid farewell to our tomato plants and safely tuck away the garden furniture.

It's also the season to retrieve our cozy coats from that seldom-visited closet upstairs. Yet, amidst all these preparations, there's another crucial thing to remember. The year's end is fast approaching, and with it, any unused benefits from your dental insurance will vanish, only to boost the insurance company's bottom line.

Over the past month, a surge of news articles has highlighted a pressing concern: a potential spike in medical premiums for employees. Employers have a fixed pot of funds allocated for benefits. And given the significance of medical coverage in the eyes of many, it naturally takes the lion's share. This mounting emphasis on medical benefits inevitably squeezes other auxiliary benefits like dental insurance, creating a bit of a tussle.

Picture this: on one side, you have the employers trying to minimize costs. They are grappling with the ever-increasing medical expenses, which means there's less financial wiggle room for other benefits. On another front, there's a struggle between ensuring satisfactory benefit coverage for patients and maintaining fair compensation for the providers. And guess what? When the dust settles, dental insurance often takes a backseat. As a result, patients might see no growth in benefits or even face higher co-pays. Providers, on the other hand, like me, might find the fees they can charge stagnating or, worse, diminishing. Why? Because insurance companies want to keep both employers and patients content, often sidelining the dentists in the process.

Given the current trajectory, it's likely that your dental insurance in the upcoming year won't stretch as far as it did this year. Inflation combined with the dynamics mentioned means the real-dollar value of your benefits could shrink. And here's my two cents: it makes complete sense to use the benefits you've rightfully earned with your hard work now rather than later. Especially when some insurance plans are narrowing down care providers, waiting until 2024 might not be in your best interest. So, while the season nudges us to prep for winter, maybe it's also hinting at a dental check-up? Just a thought!