When you start taking your child to the dentist, life is pretty good . . . until their teeth grow into their mouths. I know technology has made everything smaller today, but is it possible that they have made our kid’s mouths smaller? I have three kid’s and it turns out the dentist ‘recommends’ they all get braces in some way, shape, or form.
Being that I’m a Private CFO® , it’s always my job to ask the question on where to get the best value. Remember that the orthodontist is still a business, and there is always room to negotiate even when it comes to your kid’s braces.
Most orthodontist have some sort of diagnostic fee that they will charge you somewhere in the nature of $200 to $400 to get a clean set of x-rays, etc. Your insurance might cover that or it may not depending on your company insurance. Most insurance plans, however, won’t cover the full ride of what it will cost for braces, retainers, ongoing exams, etc. It’s really important you call to find out the do’s and don’ts with your current policies before you make any decision.
After checking out several programs, most orthodontists will either offer a lump sum program with a discount (something like 5%). Some will even offer a coupon for a greater discount if you can find a place opening a new shop or a business that is trying to attract new customers. Always ask about the discount on paying lump sum.
The other way is to basically pay a down payment and then pay installments. You should make sure there is no financing charge from the orthodontist, and if that is the case it could work to your advantage. You just want to make the gross fee they quote you is the same on both sides. The decision of lump sum vs. paying out of cash flow will come down to how well you think you can do with your money in your own hands vs. theirs, your personal cash flow at the time of purchase, and what financing may be applicable when you engage in the process.
If you have children, then you need to think about how this expense will fit in your financial plan so you don’t get smacked in the mouth with a bill when you can least afford it.
oXYGen Financial, Inc. co-CEO Ted Jenkin is one of the foremost knowledgeable professionals in giving financial advice to the X and Y Generation.
11680 Great Oaks Way, Suite 175 | Alpharetta, GA 30022
Phone 1.800.355.9318 or 770.777.0427
Securities and Investment Advisory Services offered through NFP Advisor Services, LLC (NFPAS), Member FINRA/SIPC. Oxygen Financial is not affiliated with NFPAS. NFPAS does not provide tax or legal advice. This site is published for residents of the United States only. Registered Representatives and Investment Advisor Representatives of NFP Advisor Services, LLC (NFPAS) may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed. Not all products and services referenced on this site are available in every state and through every representative or advisor listed. For additional information, please contact NFPAS Compliance Department at 512-697-6000. PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of the web sites provided here, you are leaving this web site. NFP Advisor Services, LLC makes no representation as to the completeness or accuracy of information provided at these web sites. Nor is NFP Advisor Services, LLC liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, web sites, information and programs made available through this web site. When you access one of these web sites, you are leaving our web site and assume total responsibility and risk for your use of the web sites you are linking to.