When it comes to paying for braces, you may feel a bit overwhelmed. Braces are an investment and planning for them accordingly is key when it comes to maintaining a solid grasp on your finances. The good news is there are many ways in which to pay for braces, so you do have options. What works for one family may not work for you, so figure out the best approach for you.
One way to pay for braces is with a flexible spending account (FSA), and being that it’s the end of the year, time is of the essence if you’re wishing to use your flex dollars, since the majority of them may disappear in just a few short weeks.
How to Pay for Braces
It’s important to speak with your orthodontist to discover your options when it comes to paying for braces. At Smith Orthodontics, we accept the following insurance payment types:
- Dental insurance with orthodontic coverage
- Health savings accounts (HSAs)
- Flexible spending accounts (FSAs)
Flexible spending accounts differ from insurance, since the money that is put aside disappears at the end of the year.
How FSAs Work
Flexible spending accounts work by allowing you to use pre-tax dollars to pay for eligible health expenses. Before taxes are taken out of your paycheck, money is set aside into an account, which can be used to pay for prescriptions, doctor’s visits and more. By setting this money aside pre-tax, FSAs not only help you to lessen your tax burden, they also help you to save money on eligible healthcare expenses for you and eligible members of your family.
Paying for Braces With Flex Dollars
Flex dollars from your FSA can be used on eligible expenses, such as those that are not covered by your insurance. Members of your family that these dollars can be used to help include:
- Your spouse
- Eligible dependents
By using your flex dollars, you’re bringing braces and other orthodontic care within reach for the entire family. Since this money is already put aside, using it to pay for braces or Invisalign won’t affect your checkbook or your budget.
Orthodontic Care Within Reach
Many families struggle with the idea of financing braces, and some may opt to forgo braces entirely. This isn’t the best idea, since braces can fix a variety of issues that can plague you later on in life, such as jaw issues and alignment problems. Don’t deal with discomfort and a less-than-perfect smile because you don’t think you can afford braces, discuss payment options with your orthodontist. They want you to succeed in your treatment and will work with you to develop a plan of action that works.