Dental Insurance: A White Collar Robbery?
Dental Insurance is a big racket– I don't say this to offend you. It is a big racket having 32 teeth (Normally!) Still not clear on why do I call it a racket? Well, if you break a cord of the racket, only that cord needs to be replaced; the racket is in tact. Similarly, if you lose a teeth (God forbid), the loss is limited. How expensive the dental treatment is! You give your teeth to the dentist and make payment as well.
Without insurance protection, dental treatment is a difficult proposition. I remember about a real life incident. A health benefit scheme was introduced in a Bank under which actual dental care treatment expenses for Officers were reimbursed in full. The response to the scheme was awesome. Claims for reimbursement of expenses poured in. It almost assumed the form of a racket.
One particular officer tendered bills for reimbursement of expenses, almost daily. One day I asked the dealing Assistant, “What's wrong with the dental health of this Officer? Is he dentally, medically unfit?” Going by the claims he is submitting and the nature of dental problems descriptions, not only he, his next seven generations need to be declared medically unfit! I added.
This happens with every good scheme, badly implemented. But most of the schemes today are not so good policies and implemented quite effectively by the insurance agents.
As for making the plans, the think tanks in any insurance company are capable of working wonders. The premium structure is so planned, you just don't realize, how nicely they take out the money from your pocket! After all they have to pay fat salaries to their executives, their fat TA bills, the air-conditioned comfort in the offices and residences, the huge housing loans at negligible rates of interest, the bonuses and incentives, ample number of holidays, travel by air and a lot more expenses.
The normal essential dental plan covers eligible expenses including diagnosis expenses, prevention and treatment expenses, dental cleansing, dentures and fixtures and surgery. You need to study the policy terms and conditions carefully as there are always ifs and buts conditions, and the settlement of the claims depends upon the social ethics of the society/country. The clause “conditions apply” mostly works to the disadvantage of the policyholders.
Someone has compared the insurance business with, “white -collar robbery”. He must be having his valid reasons!