Providing employees with a health insurance coverage is a widely accepted practice among most employers now a days. However, when it comes to dental insurance benefits, they are not well regulated. Although there are employee dental insurances in NY, employers aren’t federally mandated to provide them. While they might not be mandated, this doesn’t mean that you shouldn’t offer them. However, determining whether or not to offer them isn’t as simple as black-and-white.
It’s important that you keep in mind the most important factor when running any business is keeping your employees happy. This can only be done by providing them with incentives to increase their productivity.
Reasons Why Your Business Should Offer the Best Dental Insurance in NY
Recruitment and Retention
In most industries, employees expect employers to offer an employee dental benefits program, especially due to ever-increasing dental care costs. In competitive job markets, dental insurance have consistently been cited as the main sought-after benefit. This means that companies need such an incentive if they want to remain in the race with other competitors for the best employees. Businesses that offer these benefits have a competitive advantage.
A Healthier Workforce
Compared to other health conditions, dental complications have a low risk. But, when they go undetected and untreated, they can easily develop into serious issues. Assuming that you will provide your workers with an employee dental insurance in NY and sick leave, they should remain in a relatively good health. In the case that your employees have a solid health insurance coverage, they are more likely to get regular checkups and take the necessary precautions to ensure that they will not get sick. Offering sick leave is also important so that workers that may be sick with contagious diseases does not infect others.
According to the American Dental Association, there are two main dental insurance plans: managed care plans and fee-for-service plans. Although there are other dental insurances in NY, the two that are the most common:
With this plan, after your employee visits a dentist, the insurance plan reimburses him for part or the full cost of the treatment. However, this plan can also be self-funded by your business. This means that you can set aside some money that will be used for dental care and treatment. There are other more traditional dental plans referred to as indemnity plans. With such a plan, the dental insurance carrier sets specific fees that it uses to pay for specific procedures. Keep in mind that indemnity plans also have limits and copays.
Managed Care Plans
With such a plan, you have to contract an insurance company that in turn contracts specific dentists. Because these dentists are apart of the plan, they should accept a fee schedule that is set by the insurance carrier. There are two types: A PPO (preferred provider organization) plan and a (DHMO) dental health maintenance organization plan. Both use a network of dentists who have agreed to a reduced rate with the insurance company . However, A PPO is often more expensive, but it’s broader, offers a wider network of professional dentists and it also offers reimbursement for non-network dental care.
Discount Dental Plans as an Alternative To Dental Insurance
Although discount dental plans are not insurance, they provide individuals, families, and companies with affordable dental care. These plans offer discounts on dental services, and patients can typically save anywhere between 20% to 60% at the dentist. More employers are choosing dental savings plans from DentalSave because they are more affordable and make it easier to provide employees with the needed dental benefits.