Not Many Think About Their Teeth When Retiring

People often underestimate some expenses when planning for retirement. One cost that doesn't get talked about terribly often: dental care. Our teeth get worse as we age, and yet dental care isn't covered by Medicare, except for emergency dental procedures for people who are hospitalized, per the AP. There are three main avenues to covering dental costs during retirement: dental insurance, a Medicare Advantage program that covers dental care, and paying out of pocket. More:

• Stand-alone dental insurance: Older adults can purchase stand-alone dental insurance with monthly premiums that are typically around $25 to $50. Coverage varies widely, however, with plans typically capping the dollar amounts they'll cover in a year. Annual caps range from $1,000 to $2,500, providing scant protection against extensive and costly procedures. Many plans impose waiting periods that prevent you from receiving major procedures such as crowns or root canals within the first six to 12 months of coverage.
• Medicare Advantage: Many of these plans include dental care, along with vision care and hearing aids. Medicare Advantage is the managed-care, private-insurance version of Medicare; enrollees have to choose from a list of providers, so this won't be a great option if your favorite provider isn't on the list. Medicare Advantage plans can be more affordable, but their out-of-pocket limits can be high. Moreover, provider networks can be limiting, and plans may require referrals to see specialists, which can slow down care. Additionally, people switching out of Medicare Advantage into traditional Medicare will need to undergo medical underwriting for Medigap coverage.
• Paying out of pocket: If you decide to cover dental care using your own assets, it can help to do a little fact-finding to estimate how much to budget. Look back on your dental costs over the past five years, before factoring in insurance, then budget for routine preventive care. In addition, your dentist should be able to share a price list for common procedures. Consult with your dentist to get ahead of procedures you may need in the near term, then decide whether to get them done while you're working and covered by insurance or wait until retirement.

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