Paying for Braces

 

Braces Aren't Cheap
So, braces aren't cheap and it can be hard to get up front pricing from orthodontists.  The cheapest I have found in Philadelphia and the option I selected was to go with the Temple Orthodontic School at Temple University.

Naturally, going to a school means that my doctor is also still a student.  However, I was not overly concerned with this because there is a lot of oversight and these are students who already completed dental school.

I am paying a total of $3700 for my braces.  I believe I paid $150 during the first visit, $150 during the second visit, nothing during the third visit, and $400 the day my braces were applied.  My visits were each about two weeks apart, however my first visit had to be scheduled months out.

I will pay $150 per month until the total is paid.  This is a standard payment plan for anyone who goes to Temple for braces.  They just automatically put you on this plan.  Of course, you could pay the whole thing up front if you wanted to.

Other orthodontists will likely charge around $5000, and this payment option would probably cost or be credit/income contingent.

[Update:  I have since learned that most orthodontists offer the same type of payment plan and cost about the same.  So, look for a good orthodontist and skip the school is my recommendation.]

Flex Spending
I am paying my payments with Flex Spending through my job.  If you are like me, you probably are not fully aware of the various benefit options that your job offers.  Fortunately, I made friends with someone in HR who explained how Flex works.

So, my Flex Spending maximum is $1500.  If I choose to take the full amount, what this means is that my job divides the $1500 by twelve and takes the payments out of my paycheck.  So, each month my check has $125 less an it.  I do not pay taxes on the $1500.  Then, my job gives me a Visa card with a $1500 limit on it.  I can use this card only for medical purchases (i.e. paying for co-pays or medicine).  My dental insurance does not cover orthodontia, so I use the Visa card to pay for my braces.  In October I can sign up again, and get another $1500.  One of the nice things is, let's say I get a new job that starts in November.  I could use up my Visa in October, but I would not be responsible for those Flex payments.  That's just how it works.  Note that Flex Spending is use it or lose it.  If I do not use up the $1500, I will lose the money at the end of the year.  Of course, with braces this is a non-issue.

Flex is nice for three reasons.  (1) You don't pay taxes on it, so you save a little money.  (2) It's a bit like a 0% loan or an advance, and you can use it right away. (3) The employer "pre-funds" it, so if you quit or are terminated you do not have to re-pay it.

[Update:  My new job does not pre-fund the flex account, so this can vary.  However, it's still a convenient tax-free way to pay for braces.  Plus, if you struggle with budgeting your employer is already taking the money out of your check before you get it.]

Find out more about Flex Spending on the wiki page: http://en.wikipedia.org/wiki/Flexible_spending_account