People call Stockett and Associates on a regular basis asking about Dental insurance. The cost of dental insurance, typically between $30-40 per month per person, is rarely worth the benefits in coverage that a client will receive. Most Dental plans will have a max annual benefit of $1000 or $1500 with a deductible and they usually only pay 60% of the bill. A Health Matching Account, HMA, can solve a lot of these issues so long as a client is patient. An HMA is essentially a medical savings account where the company will match the funds on an increasing basis over the course of 3 years. The least expensive option is only $40 per month. After the 35 month pay-in period, the client will have contributed $1400 but will have access to $2500 in medical spending. Not only will the client have $1100 more than they contributed but they will no longer have to pay the full premium either. It will convert to a maintenance fee. Furthermore, the $2500 can be used for any medical expense not just dental. It can be used to pay for prescriptions, counseling appointments, ambulance rides, surgeries, or just about any other medical need. HMAs are truly versatile and can be purchased with benefit amounts up to $60,000.
