Save money and smile more by discovering the secrets of financing your dental trip abroad! Don't let finances keep you from getting the dental care you need.
Read on to explore which financing option will suit your needs.
Get ready to smile brighter without feeling the pinch!
Ways To Finance Your Dental Trip Abroad
Self-Paying for Your Dental Trip Abroad
Before we jump into the financing options, let’s look at some of the self-pay options.
What if we told you you could save taxes on your dental trip abroad? Intrigued, read on to find out more!
With an HSA, you can save money and up your dental game! [1] Setting one up allows you to contribute funds that are tax-free if used for qualified medical expenses.
Plus, having a HDHP is all it takes to be eligible! It's time to get insured and start saving!
Health Savings Account
HSA Contribution & Other Limits for 2023 [2]
| Particulars/ Coverage | Self-Only | Family |
| Contribution Limits | $3,850 | $7,750 |
| Health Plan Minimum Deductibles | $1,500 | $3,000 |
| Limits on Out-of-Pocket Expenses | $7,500 | $15,000 |
Benefits of HSA
To summarise, benefits of HSA include: [3]
1. No Federal Tax
Health Savings Accounts are a great way to save money for medical expenses.
Not only does your contribution go untaxed, but so does any interest earned on it!
There is no tax on withdrawals as well!
Remember that insurance premiums don't qualify as medical expenses!
2. No Expiry Date
Invest in your future with the power of an HSA!
Your contributions will never evaporate!
HSA provides a secure financial cushion that only grows over time.
Benefits of Health Savings Account
3. Use for Spouse & Dependents
With an HSA, you can make a smart investment in your family's health care.
You can easily pay for qualified medical expenses of your spouse and dependents.
4. No Impact of Job Change
Your HSA funds are with you for life!
Even if your employment changes or retirement is on the horizon, it's still yours to keep and use.
An FSA is a smart and tax-efficient way for employees to save money on their dental costs.
You should note that these funds are exempt from income and payroll taxes.
Plus, any withdrawals used to cover medical expenses will also be completely free of taxation! [4]
Flexible Spending Account
The amounts you pay for preventing and alleviating dental diseases are included as a part of 'medical expenses'.
This includes tooth cleaning by a hygienist or dentist, the application of sealants.
Further, it also includes fluoride treatments to ward against decay.
Dental procedures like X-rays, fillings for cavities, braces alignment corrections, extractions, and dentures are also included.
Source: Irs.gov [5]
No dental insurance? Don't worry! 🦷
Contact us!Best Loans for Dental Work Abroad
Don’t let lack of insurance keep you away from the smile you deserve!
Many US banks and financial institutions offer personal loans for dental work abroad.
Many of them even provide dental loans to seniors basis their credit score.
Check out the below section to understand your options.
Get a Personal Loan To Finance Your Dental Trip
However, before applying for a personal loan, we urge you to keep the following in mind:
Total Amount
Ask for a detailed quote from your dentist to have a fair idea about the loan amount.
Rate of Interest
It usually depends on your credit score. A higher interest rate means a higher cost of borrowing.
Fixed vs. Floating Interest
A floating interest rate varies with the market, while a fixed interest rate stays consistent.
Processing Fees
Ask the lender about the one-time processing fees.
Repayment Term
A longer term implies smaller EMIs, but more interest. In contrast, a shorter term means larger EMIs with less interest.
Listed below are some options for you:
Dentavacation's parent company, Medical Tourism Co, has partnered with e-Financing Solutions.
Together, we finance your dental trip abroad at interest rates you can afford!
Click here to apply!
With United Credit, you can get the smile of your dreams in no time.
They provide financing to customers across the US.
United Credit also covers cosmetic dentistry which are usually not covered by insurance.
Click here to apply.
Take control of your out-of-pocket expenses with CareCredit!
With special financing options, you won't find anywhere else, you can get the care and treatment coverage you need.
That too, without breaking the bank. Click here to apply.
Credit cards are unsecured loans to finance your dental trip abroad.
Some of the most sought after credit cards include: [7]
| Card | Annual Fees | Benefits |
| Citi Double Cash Card | $0 | 2% cash-back |
| Chase Freedom Unlimited | $0 | ▪️ 1.5% cash-back on all purchases
▪️ 0% Intro APR for first 15 months |
| Capital One Venture Rewards Credit Card | $95 | 2x miles on all non-bonus purchases |
| American Express Platinum Card | $695 | 1x points on medical or dental expenses |
Other recommended dental loans include: [8]
| Lender | Forbes Rating | Minimum Credit Score | Amount |
 |
4 ⭐⭐⭐⭐ | 650 | $5,000 to $100,000 |
 |
4 ⭐⭐⭐⭐ | 660 | $5,000 to $100,000 |
 |
4 ⭐⭐⭐⭐ | Undisclosed | $3,500 to $40,000 |
 |
4 ⭐⭐⭐⭐ | 600 | $2,000 to $36,500 |
 |
3.5 ⭐⭐⭐ | 560 | $1,000 to $35,000 |
 |
4 ⭐⭐⭐⭐ | 560 | $1,000 to $50,000 |
 |
3.5 ⭐⭐⭐ | 660 | $2,500 to $35,000 |
Dental loan is a good way to finance dental work if you have a good credit score.
Howeever, some lenders give loan at low credit score as well. Compare different loans by clicking here.
You can also get loans from your friends and family. Even though these are informal loans, you are recommended prioritizing their payment.
This will ensure friendly relations and will eliminate the element of awkwardness.
Different lenders have different terms for lending dental loans.
For example, a credit score of 640 may get you a dental loan at lower interest rate.
Whereas a credit score of 580 may get you the same loan at a higher interest rate.
A lesser credit score may mark you as a risky borrower.
So, many options, but which one is the best for you? Let’s answer this question!
How to Compare Financing Options?
Introducing Supermoney!
With so many loan offers, it gets difficult to pick the best one for yourself.
With Supermoney, you can fill in a simple form and receive the best-personalized loan offers in minutes!
Click here to apply!
How To Get a Copy of Your Credit Report?
You can get a copy of your FREE credit report by using any of the following options: [9]
- Online: Click here
- Phone: (877) 322-8228
- Mail: Download & complete the Annual Credit Report Request form. Mail the completed form to:
Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281
Video Courtesy: Consumerfinance.gov
Informal Loans to Finance Your Dental Trip Abroad
With a low credit score, you might be tempted to ask friends and family for a loan.
Informal loans provide a great way to finance your dental trip abroad.
However, you should note the following:
Finance your dental trip hassle-free!
Request quoteRefinancing an Existing Dental Loan
Refinancing means replacing an existing loan with a new loan. The possible benefits of re-financing a dental loan include:
- Better rate of interest: In case your credit score has improved
- Smaller monthly payments: By stretching out the loan term
Crowdfunding to Finance Your Dental Trip Abroad
Crowdfunding for dental work involves raising funds from a large group of people.
You should note that crowdfunding platforms do not require your credit score.
Crowdfunding
Some prominent crowdfunding platforms include:
- Go Fund Me
- Go Fund Health
- Fundrazr
Conclusion
Financing options for dental trip abroad may seem limited without insurance.
Plus, it can become more stressful if you have a low credit score.
However, options like dental loans and informal loans can help you.
Moreover, if your credit score increases, you can also opt for refinancing options.
So make sure to take advantage of all these solutions!
Because nothing should get in the way between you and those pearly whites!
FAQs
Whether you can pay in installements or not depends on the dental clinic.
Hence, we recommend you to confirm the same with your respective dentist.
Different financing options carry different terms.
These terms depend on your loan requirement and credit score. To compare the same, you can use Supermoney.
Different dental clinics have different payment policies.
Check with your dentist about your chosen financing option.
Budget your dental trip expenses by discussing prices, procedure duration, and hotel stay with your dentist.
