How do you budget and pay for dental implants after retirement

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livelovelaugh00
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How do you budget and pay for dental implants after retirement

Post by livelovelaugh00 »

My aca dental insurance doesn't cover dental implants. So any idea will be helpful.
Admiral
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Re: How do you budget and pay for dental implants after retirement

Post by Admiral »

I'm not retired but my parents are in their 80s. They save(d), just as one would for any large expense.

Do you have an HSA?
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arcticpineapplecorp.
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Re: How do you budget and pay for dental implants after retirement

Post by arcticpineapplecorp. »

how much are we talking? google says average cost for a single dental implant is between $1000 and $5000 though "the exact cost depends on many factors".

some dental offices may have payment plans (like orthodontics) or you might be able to use a Care Credit card (if approved) which allows you to pay the bill off over a number of months with no interest (if pay after the promotional period interest is onerous, so don't recommend that if you can't pay it off within the promotional period).

Budgeting for it is the same as any other item I guess. If you have a car budget you budget a certain amount each month for that. Homeowner's should be budgeting for repairs (but many don't). It's not any different that I can see.

Don't know if you were in the military but there might be dental insurance for veterans through Met Life (my girlfriend's father had this which covered much of his dentures).

You could try getting the work done at a dental school if it would be cheaper and/or shopping around on price.
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Mr. Rumples
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Re: How do you budget and pay for dental implants after retirement

Post by Mr. Rumples »

I have had several. As noted above, I budget for them like any major expense. Fortunately, the surgeon offers a 5% discount if paid in full and doesn't charge for using a credit card. The dentist accepts the credit card so I get points. Neither has a limit on the number of visits for followups and crown / bite adjustments. I pay about $500 extra for sedation but that is worth it to me.

Some of my friends go to the dental school and have been very happy.

Out of pocket dental has been the major unexpected expense in retirement.
Last edited by Mr. Rumples on Tue Apr 02, 2024 3:17 pm, edited 1 time in total.
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jebmke
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Re: How do you budget and pay for dental implants after retirement

Post by jebmke »

Credit card is how I paid. I don't budget.
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DetroitRick
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Re: How do you budget and pay for dental implants after retirement

Post by DetroitRick »

Assuming you have a dentist that you know and trust, start with a conversation there to get a rough idea of potential number and timeline. A good exam and review will give you far better answers than using public averages. Not giving medical advice here, just saying it's important to figure out if future possibilities are a few, none, or many. And roughly when.

We don't budget for them individually, in retirement or prior, because we don't have any reason to believe there will be many of them in our case. This is based on both our history and several discussions with our dentists. To date, wife had 2, I had 0. Further need seems moderately unlikely. Best case 0, worst case a few more. But we do, based on history, budget a fair amount for dental care in general yearly. Preventive, restorative, everything into a total number. In entire post-employment life, our results have been vaguely within target - meaning I've never had to scramble to position funds for dental care. We are lucky, many people can expect a far great number with the resulting cost.

It also helps to assess the skills and reputation of the oral surgeon involved. That is a huge driver of total long-term cost. In fact, wife just had to have a 2005 implant redone. Original oral surgery re-assessed, determined cause of failure, and re-did it for free. So in that case, our cost was abutment and crown only, not cheap but not devastating. Not every practitioner would have done that. I would no more let cost be the sole driver for choosing an oral surgeon, than I would for other types of surgery.

We don't carry dental insurance in retirement after assessing cost/benefit. Too many coverage limitations, high premiums and network limitations. The purpose of our annual dental budget is just to plan our cash flow to a vague extent.
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livelovelaugh00
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Re: How do you budget and pay for dental implants after retirement

Post by livelovelaugh00 »

Thank you for the replies.
The cost is $17574 for #29 and #30. They are failed root canals that i got long time ago. The price include $604 of extraction and infected site cleaning which iwas done last week. I had the dentist ten years ago for my front upper and bottom teeth. At the time I had two dental insurance. So i did not pay attention to the total cost. Now I'm retired. It seems a big number. I need to do the #18 and #19 in the future. Maybe I could do all 4 in one calender year to itemize the tax deduction, I guess? If medicare pay for part of it, I could do some long term plan to have them done after 65?. Another thing I thought of cutting the cost is to let his residents in teaching practice do the crown, abutment and temp crown since they are all back teeth. Residents charge roughly 20% less. Sign up a couple of cc is an added benefit...
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Re: How do you budget and pay for dental implants after retirement

Post by cadreamer2015 »

I don't budget for dental implants. (We've been retired for 3 years) If we were to require them we would pay for them by credit card and pay the credit card balance at the end of the month, like any other expense.
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jebmke
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Re: How do you budget and pay for dental implants after retirement

Post by jebmke »

livelovelaugh00 wrote: Tue Apr 02, 2024 3:11 pm Thank you for the replies.
The cost is $17574 for #29 and #30. They are failed root canals that i got long time ago. The price include $604 of extraction and infected site cleaning which iwas done last week. I had the dentist ten years ago for my front upper and bottom teeth. At the time I had two dental insurance. So i did not pay attention to the total cost. Now I'm retired. It seems a big number. I need to do the #18 and #19 in the future. Maybe I could do all 4 in one calender year to itemize the tax deduction, I guess? If medicare pay for part of it, I could do some long term plan to have them done after 65?. Another thing I thought of cutting the cost is to let his residents in teaching practice do the crown, abutment and temp crown since they are all back teeth. Residents charge roughly 20% less. Sign up a couple of cc is an added benefit...
The cost isn't way out of line with the one I had done, allowing for inflation. I had the extraction and implant done by an oral surgeon. The replacement tooth built and installed by my dentists. I told the dentist who initially diagnosed the issue that I didn't want to cut corners on the whole thing because it is long, not without some pain and I didn't want to get it wrong. I've known people who cut corners and regretted it because things never "worked right" or had to be re-done.
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Parkinglotracer
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Re: How do you budget and pay for dental implants after retirement

Post by Parkinglotracer »

I’d consider some medical tourism to look at lower cost solutions. There are western trained dentists in countries that are qualified and capable.
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Re: How do you budget and pay for dental implants after retirement

Post by Parkinglotracer »

I’d consider some medical tourism to look at lower cost solutions. There are western trained dentists in countries that are qualified and capable.
jebmke
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Re: How do you budget and pay for dental implants after retirement

Post by jebmke »

Parkinglotracer wrote: Tue Apr 02, 2024 3:16 pm I’d consider some medical tourism to look at lower cost solutions. There are western trained dentists in countries that are qualified and capable.
Perhaps; but the process has multiple steps with weeks and months in between. The travel cost might eat up the savings on the dental work.
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Re: How do you budget and pay for dental implants after retirement

Post by veggivet »

If you have an HSA, this would be the perfect time to use it.
rich126
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Re: How do you budget and pay for dental implants after retirement

Post by rich126 »

That prices seems high. I would expect more like $5-6K per tooth. I had one in Maryland a couple of years ago (post covid) and that is what I recall the price was.
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Re: How do you budget and pay for dental implants after retirement

Post by Toons »

Save ,Invest
Before Retirement.
Otherwise I guess a monthly payment plan :happy
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Re: How do you budget and pay for dental implants after retirement

Post by BarbBrooklyn »

Have you considered getting a second opinion (and prices)?

My husband went to a new dentist after our old one retired. At the second visit, this guy proposed a course of treatment which included implants, crowns etc that was going to run into 5 figures AFTER our dental insurance. We said we'd think about it and never went back.

Our NEW new dentist chuckled at the scope of the work proposed.

Trust, but verify.
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jebmke
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Re: How do you budget and pay for dental implants after retirement

Post by jebmke »

rich126 wrote: Tue Apr 02, 2024 3:25 pm That prices seems high. I would expect more like $5-6K per tooth. I had one in Maryland a couple of years ago (post covid) and that is what I recall the price was.
Mine was around $7,500 in MD (the expensive side of the bay). I think that was in 2012.
Don't trust me, look it up. https://www.irs.gov/forms-instructions-and-publications
bloom2708
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Re: How do you budget and pay for dental implants after retirement

Post by bloom2708 »

I concur with "Trust (kind of) but verify (definitely)".

You pay the same way you'd pay for a new furnace, a car, a large trip or any other large purchase.
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Re: How do you budget and pay for dental implants after retirement

Post by Surfcaster »

Have you considered out of country options. I know several people that went to either India or Central America for implants for significant savings.

Not something I would consider though for multiple reasons
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Re: How do you budget and pay for dental implants after retirement

Post by H-Town »

livelovelaugh00 wrote: Tue Apr 02, 2024 3:11 pm Thank you for the replies.
The cost is $17574 for #29 and #30. They are failed root canals that i got long time ago. The price include $604 of extraction and infected site cleaning which iwas done last week. I had the dentist ten years ago for my front upper and bottom teeth. At the time I had two dental insurance. So i did not pay attention to the total cost. Now I'm retired. It seems a big number. I need to do the #18 and #19 in the future. Maybe I could do all 4 in one calender year to itemize the tax deduction, I guess? If medicare pay for part of it, I could do some long term plan to have them done after 65?. Another thing I thought of cutting the cost is to let his residents in teaching practice do the crown, abutment and temp crown since they are all back teeth. Residents charge roughly 20% less. Sign up a couple of cc is an added benefit...
I wonder how much dental insurance would pay for your dental implants. 20%? 30%? Regardless it's not preventive care. You will probably pay out of your pocket. Other people suggested HSA. It will get spent somehow.
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bradinsky
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Re: How do you budget and pay for dental implants after retirement

Post by bradinsky »

Go to a major dental college & see if you can be the person they practice on. About 15 years ago a friend made many visits to Ohio State dental college where he had many implants done. He said the work he had done there would have cost him in excess of $25K & he ended up paying a few thousand. He was extremely happy with everything that they did.
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ResearchMed
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Re: How do you budget and pay for dental implants after retirement

Post by ResearchMed »

BarbBrooklyn wrote: Tue Apr 02, 2024 3:47 pm Have you considered getting a second opinion (and prices)?

My husband went to a new dentist after our old one retired. At the second visit, this guy proposed a course of treatment which included implants, crowns etc that was going to run into 5 figures AFTER our dental insurance. We said we'd think about it and never went back.

Our NEW new dentist chuckled at the scope of the work proposed.

Trust, but verify.

It might not be something quite like what BarbBrooklyn's husband experienced, but have you gotten a second opinion... about not only the cost, but what is actually needed?

This seems rather high, compared with prices we've seen, and we live in a VHCOL area.
It would seem prudent, with costs stated at this level, to at least double check.

RM
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Rex66
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Re: How do you budget and pay for dental implants after retirement

Post by Rex66 »

The OP already had the teeth pulled. Asking him to verify is a tad late and not likely necessary.
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ResearchMed
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Re: How do you budget and pay for dental implants after retirement

Post by ResearchMed »

Rex66 wrote: Tue Apr 02, 2024 4:20 pm The OP already had the teeth pulled. Asking him to verify is a tad late and not likely necessary.

Implants can be "done" later after having the tooth/teeth pulled, and often are, for a variety of reasons, including convenience, price, scheduling issues, fear, waiting for healing, a dentist moving, etc., or whatever.

Sure, getting a second opinion may have been better at the start, assuming the extractions weren't emergencies. But that doesn't mean (or probably shouldn't mean?) that all of the rest of the substantial and expensive work is locked in with the current dentist, although perhaps there is a reason it is.
Also, depending upon the specific dental circumatances, the implants themselves might be a more complex portion of the work overall.

And it seems there are another couple of teeth in the queue?

RM
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Re: How do you budget and pay for dental implants after retirement

Post by jebmke »

ResearchMed wrote: Tue Apr 02, 2024 4:34 pm
Rex66 wrote: Tue Apr 02, 2024 4:20 pm The OP already had the teeth pulled. Asking him to verify is a tad late and not likely necessary.

Implants can be "done" later after having the tooth/teeth pulled, and often are, for a variety of reasons, including convenience, price, scheduling issues, fear, waiting for healing, a dentist moving, etc., or whatever.

Sure, getting a second opinion may have been better at the start, assuming the extractions weren't emergencies. But that doesn't mean (or probably shouldn't mean?) that all of the rest of the substantial and expensive work is locked in with the current dentist, although perhaps there is a reason it is.
Also, depending upon the specific dental circumatances, the implants themselves might be a more complex portion of the work overall.

And it seems there are another couple of teeth in the queue?

RM
In fact they are usually done later, I think. When I had mine done they didn’t do the bone graft right away. The actual implant was months later then the new tooth was months after the implant was screwed in.
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Rex66
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Re: How do you budget and pay for dental implants after retirement

Post by Rex66 »

ResearchMed wrote: Tue Apr 02, 2024 4:34 pm
Rex66 wrote: Tue Apr 02, 2024 4:20 pm The OP already had the teeth pulled. Asking him to verify is a tad late and not likely necessary.

Implants can be "done" later after having the tooth/teeth pulled, and often are, for a variety of reasons, including convenience, price, scheduling issues, fear, waiting for healing, a dentist moving, etc., or whatever.

Sure, getting a second opinion may have been better at the start, assuming the extractions weren't emergencies. But that doesn't mean (or probably shouldn't mean?) that all of the rest of the substantial and expensive work is locked in with the current dentist, although perhaps there is a reason it is.
Also, depending upon the specific dental circumatances, the implants themselves might be a more complex portion of the work overall.

And it seems there are another couple of teeth in the queue?

RM
Of course they can be done later

There isn’t any tooth there now. The prices aren’t astronomical for the service so really what are you gaining? You can hope someone will bridge instead? You hope that after time and office fee visits you save a few bucks? If the prices were sky high then ok.
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livelovelaugh00
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Re: How do you budget and pay for dental implants after retirement

Post by livelovelaugh00 »

I have this trusted dentist who Is a renowned professor and researcher in his field. There're three dental schools near me. They all have faculty practice and teaching practice. I chose the best. I'm in good h,hands. At this point, the situation is, I have this big dental expense this year. I have the potential implant need on the opposite side too. How do I strategically plan it so that I could make lemonade out of lemon financially. I'm thinking maybe do all 4s in 2024 to save on tax. I had the impression that medicare pays part of the implant.
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Re: How do you budget and pay for dental implants after retirement

Post by jebmke »

livelovelaugh00 wrote: Tue Apr 02, 2024 5:29 pm I have this trusted dentist who Is a renowned professor and researcher in his field. There're three dental schools near me. They all have faculty practice and teaching practice. I chose the best. I'm in good h,hands. At this point, the situation is, I have this big dental expense this year. I have the potential implant need on the opposite side too. How do I strategically plan it so that I could make lemonade out of lemon financially. I'm thinking maybe do all 4s in 2024 to save on tax. I had the impression that medicare pays part of the implant.
May depend on why the implant is being done. Mine was due to a crack in the root, not accident so not covered. Medicare doesn’t cover routine dental work.
Don't trust me, look it up. https://www.irs.gov/forms-instructions-and-publications
Rex66
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Re: How do you budget and pay for dental implants after retirement

Post by Rex66 »

Regular Medicare. I don’t think so

Maybe some advantage plan but likely limited coverage. Just ask the dentist office.
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Re: How do you budget and pay for dental implants after retirement

Post by EricGold »

Mr. Rumples wrote: Tue Apr 02, 2024 2:29 pm Out of pocket dental has been the major unexpected expense in retirement.
Yep
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vnatale
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Re: How do you budget and pay for dental implants after retirement

Post by vnatale »

A quick internet search will find you things like this:

https://www.medicarefaq.com/faqs/what-d ... are-cover/

Does Medicare Cover Dental Care?
Original Medicare does not cover routine dental care. Medicare Part A and Part B will only cover dental services if they are required for another medical procedure and a physician deems them medically necessary.

Additionally, Medicare Part A and Medicare Part B may cover dental work as a part of or related to an emergency. For example, Medicare would cover tooth extractions as part of reconstructive jaw surgery after an accident. However, to be clear, most dental care falls outside the narrow window of exceptions.

Medicare does NOT cover any of the following dental services or treatments:

Oral surgery
Dentures
Dental implants
Wisdom tooth removal
Oral exams
Teeth cleaning
Orthodontics
Invisible aligners
Root canal treatment
Abscess tooth
According to KFF.org, more than half of Medicare beneficiaries nationwide lack dental coverage. If you have Medicare and want help paying your dental bills, you have options:

A Medicare Advantage plan with a dental coverage benefit
A stand-alone dental plan
Dental, vision, and hearing plans
A dental discount plan, which isn’t insurance, but gives you a discount on services
Medicare Supplemental Dental Coverage
When enrolled in a Medicare Supplement plan, you will need to purchase a stand-alone dental plan or utilize dental discount plans to receive coverage for dental services. Because Medicare Supplement (Medigap) Plans are extensions of Original Medicare benefits, your policy will only cover medical costs Original Medicare leaves behind. This does not include dental coverage.

There are many great options available for those on Medicare Supplement plans who want dental coverage as well. Popular carriers for dental plans include Cigna, Manhattan Life, Aetna, and National General.
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GetItRight
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Re: How do you budget and pay for dental implants after retirement

Post by GetItRight »

Currently going through this, on the home stretch. Roughly $15k for three adjacent teeth pulled and replaced with implant two studs and 3 tooth bridge attached to the studs, bone graft to get enough meat to thread the studs into and such since I stopped going to dentist after the initial trauma and had some bone loss, etc.. Did not worry too much about cost as I delayed it about a decade when I couldn't afford it back then after damage caused by a person who would not take responsibility, the business they worked for insurance gave me the runaround, and no lawyers I talked to wanted to take the case by the time I figured out they weren't going to do the right thing to make me whole.

Found a good dentist, super fancy laser stuff to bore hole in my skull but still an unnerving amount of honing each hole before tapping and installing inserts. Yay tinnitus, bone conduction and whatnot.. Coulda been worse with traditional tools. In any event, I figure I'm still young so it's worth it to me to spend the extra $10k+ for implants vs dentures/bridge/whatever. Less effort to maintain over hopefully decades, better functionality.

As to how I paid for it. I'm not retired so I can't comment for your situation but large medical expenses for me in my working years are an EF thing. Teeth deteriorated to where I needed them pulled to be able to work and earn money, but being front visible teeth could be problematic in my younger/working years particularly with potential of another employer or two before retirement. Nobody judges unless they do, you know. Doesn't matter that some selfish person a decade ago caused this damage and refused to make it right.

In any event, paid for as I go with emergency fund. Realistically the $15k-ish is has been paid over the course of nearly a year. I am not retired. I have a HSA that I max. I will use the money spent on teeth on tax savings in early retirement withdrawing from the HSA before whatever the tax free withdrawal age is. I paid cash from my EF, which since I'm still working I can fairly replenish. Remember the whole teeth plan in my case took nearly a year start to finish, a grand or two at a time after each dentist visit.

That's how I dealt with it. In my case I could have budgeted for it since I knew for a decade it was coming but I'm more of a spend as little as possible person rather than budget person. You don't budget for large unexpected medical expenses. That's what EF is for.

Also there's the fun bit about how much you never realized you could feel your teeth and you have no idea the position of your new teeth. Interesting, super fun.
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livelovelaugh00
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Re: How do you budget and pay for dental implants after retirement

Post by livelovelaugh00 »

Thanks for all the info everyone!!!
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Re: How do you budget and pay for dental implants after retirement

Post by LunarOpal »

jebmke wrote: Tue Apr 02, 2024 3:50 pm
rich126 wrote: Tue Apr 02, 2024 3:25 pm That prices seems high. I would expect more like $5-6K per tooth. I had one in Maryland a couple of years ago (post covid) and that is what I recall the price was.
Mine was around $7,500 in MD (the expensive side of the bay). I think that was in 2012.
I think I paid ˜$6,000 in 2008? in Indianapolis.
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Re: How do you budget and pay for dental implants after retirement

Post by suemarkp »

Try to keep your income low if the dental implant is considered "medical expenses" for income tax deduction purposes, but be sure to have enough taxable income to offset your deductions. You'll need to itemize, and only medical costs over 7.5% of your AGI are deductible. Max your other deductions (state and local taxes, charity, mortgage interest if you have it, search for others and act) to try and make it worthwhile. This could take some of the sting off depending on what tax bracket you are in.
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Wannaretireearly
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Re: How do you budget and pay for dental implants after retirement

Post by Wannaretireearly »

Oh boy. Just seeing these costs is nauseating.
Over $10k I would consider other countries.
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Re: How do you budget and pay for dental implants after retirement

Post by cosmos »

Wannaretireearly wrote: Tue Apr 02, 2024 11:45 pm Oh boy. Just seeing these costs is nauseating.
Over $10k I would consider other countries.
Those full mouth all on 4 ads you see all over TV etc can be upwards of 75K for both arches...
Heck even snap-in dentures suppported by 4 implants are around 20-25K

Im also not sure alot of dental insurance covers alot of that really.
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SurferLife
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Re: How do you budget and pay for dental implants after retirement

Post by SurferLife »

Just wanted to say that my neighbor is flying to Mexico next week for lots of dental work. Apparently, he’s going to save thousands on the procedure. His dentist said that he’s seen both good and not so great results from folks that have gone that route. Something to keep in mind.
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Re: How do you budget and pay for dental implants after retirement

Post by randomguy »

cosmos wrote: Wed Apr 03, 2024 12:30 am
Wannaretireearly wrote: Tue Apr 02, 2024 11:45 pm Oh boy. Just seeing these costs is nauseating.
Over $10k I would consider other countries.
Those full mouth all on 4 ads you see all over TV etc can be upwards of 75K for both arches...
Heck even snap-in dentures suppported by 4 implants are around 20-25K

Im also not sure alot of dental insurance covers alot of that really.

Depends on the plan but I think the most generous private plans I have seen are about 50% and I think they have a cap. The somewhat flippant answer is that for luxury goods purchases like dental implants you have to save up for them. Depending on your budget 1 time expenses of say 30-50k (thats a decent amount of teeth), is either something you can absorb like a new needing a new roof or a real budget buster.
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Re: How do you budget and pay for dental implants after retirement

Post by SchruteB&B »

Wannaretireearly wrote: Tue Apr 02, 2024 11:45 pm Oh boy. Just seeing these costs is nauseating.
Over $10k I would consider other countries.
I had an implant done recently and it required many, many visits over multiple months. Not sure how you would do that going to another country.
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Re: How do you budget and pay for dental implants after retirement

Post by jebmke »

SchruteB&B wrote: Wed Apr 03, 2024 6:47 am
Wannaretireearly wrote: Tue Apr 02, 2024 11:45 pm Oh boy. Just seeing these costs is nauseating.
Over $10k I would consider other countries.
I had an implant done recently and it required many, many visits over multiple months. Not sure how you would do that going to another country.
That was my take as well. and if something went south in the middle of the process or later, then what? No other dentist will come near your mouth OR getting it fixed locally will cost you a ton.
Don't trust me, look it up. https://www.irs.gov/forms-instructions-and-publications
gunny2
Posts: 452
Joined: Thu Jun 08, 2023 6:53 pm

Re: How do you budget and pay for dental implants after retirement

Post by gunny2 »

Any standard dental plan I ever saw will not cover this and even a high-end plan will typically only cover part of it.

I can't say I agree on spending thousands of dollars to go overseas to save money. The stated $17K cost sounds excessive; I'd definitely get another opinion.
timcob
Posts: 14
Joined: Sat Feb 24, 2024 5:36 am

Re: How do you budget and pay for dental implants after retirement

Post by timcob »

You can save a lot of money travelling abroad to get this done. We live in Malta now and a friend just flew from California and stayed with us to get his done here. Prices here are about a third of the US and you can save well over 20k if you have to have them all done. A lot of implants these days are standard products from major dental companies such as Zimmer and Straumann and it is possible to get the same treatment in many different countries. We get dental work done locally in Malta and the quality of the work is comparable to the work we used to get done in San Francisco. Our dentist was trained and worked for many years in London. For comparison a Toronto bridge is 1500 and all on 4 is about 8k. Just be careful - Id recommend choosing the top dentists if travelling abroad - dont go to a cheap country and choose the cheapest dentist
InMyDreams
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Joined: Tue Feb 28, 2017 10:35 am

Re: How do you budget and pay for dental implants after retirement

Post by InMyDreams »

suemarkp wrote: Tue Apr 02, 2024 11:20 pm Try to keep your income low if the dental implant is considered "medical expenses" for income tax deduction purposes, but be sure to have enough taxable income to offset your deductions. You'll need to itemize, and only medical costs over 7.5% of your AGI are deductible. Max your other deductions (state and local taxes, charity, mortgage interest if you have it, search for others and act) to try and make it worthwhile. This could take some of the sting off depending on what tax bracket you are in.
This. Make sure you understand all aspects of itemization, not just the medical/dental in excess 7.5% of AGI. If you are over 70.5, you're eligible to make Qualified Charitable Distributions from your IRA, which is probably more tax efficient than itemizing cash charitable contributions. Otherwise, you could also fund a DAF account to increase your charitable contributions in the year of itemization, but allow those funds to disperse in a different year. In kind charitable contributions - time to clean out closets and garage.
Thinking of buying a big ticket item? Sales tax! Keep in mind the SALT deduction limit.
Keep every receipt for prescription co-pays. Track mileage for charity and medical/dental visits. I think some OTC meds are now allowed in itemization, but you'd need to look at the list. If you've been postponing treatments, it would be time to consider them. New glasses. Hearing aids. Yada!
Last edited by InMyDreams on Wed Apr 03, 2024 11:26 am, edited 1 time in total.
BradleyB
Posts: 114
Joined: Sun Sep 10, 2023 7:31 pm
Location: Ohio

Re: How do you budget and pay for dental implants after retirement

Post by BradleyB »

Parkinglotracer wrote: Tue Apr 02, 2024 3:16 pm I’d consider some medical tourism to look at lower cost solutions. There are western trained dentists in countries that are qualified and capable.
Please do not do this.

For a case such as you briefly described, it is a process. Sometimes up to a year, if it involves bone grafting, provisionals etc. I had a few patients go to another country and had major problems. Stuff happens, for sure, but a quick solution with no followup is a recipe for failure.

Retired now, but words of advice from mentors:

*One miracle at a time.
*What's your rush?
Topic Author
livelovelaugh00
Posts: 250
Joined: Sun Dec 25, 2016 7:15 pm

Re: How do you budget and pay for dental implants after retirement

Post by livelovelaugh00 »

InMyDreams wrote: Wed Apr 03, 2024 10:33 am
suemarkp wrote: Tue Apr 02, 2024 11:20 pm Try to keep your income low if the dental implant is considered "medical expenses" for income tax deduction purposes, but be sure to have enough taxable income to offset your deductions. You'll need to itemize, and only medical costs over 7.5% of your AGI are deductible. Max your other deductions (state and local taxes, charity, mortgage interest if you have it, search for others and act) to try and make it worthwhile. This could take some of the sting off depending on what tax bracket you are in.
This. Make sure you understand all aspects of itemization, not just the medical/dental in excess 7.5% of AGI. If you are over 70.5, you're eligible to make Qualified Charitable Distributions from your IRA, which is probably more tax efficient than itemizing cash charitable contributions. Otherwise, you could also fund a DAF account to increase your charitable contributions in the year of itemization, but allow those funds to disperse in a different year. In kind charitable contributions - time to clean out closets and garage.
Thinking of buying a big ticket item? Sales tax! Keep in mind the SALT deduction limit.
Keep every receipt for prescription co-pays. Track mileage for charity and medical/dental visits. I think some OTC meds are now allowed in itemization, but you'd need to look at the list. If you've been postponing treatments, it would be time to consider them. New glasses. Hearing aids. Yada!
Itemize the tax deductible and utilize the 7.5% of AGI is very interesting to look into!
Topic Author
livelovelaugh00
Posts: 250
Joined: Sun Dec 25, 2016 7:15 pm

Re: How do you budget and pay for dental implants after retirement

Post by livelovelaugh00 »

A self reflection here, maybe for future retirees when you make your pre-retirement planning, I should have done an in-depth oral exam before retirement three years ago. Find a place that can take a CBCT scan instead of just x-ray. It would give me the necessary information to make an informed decision to pull the failed root canals and do implants while I was still working with two dental insurance.
tashnewbie
Posts: 4333
Joined: Thu Apr 23, 2020 12:44 pm

Re: How do you budget and pay for dental implants after retirement

Post by tashnewbie »

I doubt most insurance covers a substantial portion of dental implants, so I assume people would do whatever they did before retirement.
jebmke
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Joined: Thu Apr 05, 2007 2:44 pm
Location: Delmarva Peninsula

Re: How do you budget and pay for dental implants after retirement

Post by jebmke »

tashnewbie wrote: Wed Apr 03, 2024 1:30 pm I doubt most insurance covers a substantial portion of dental implants, so I assume people would do whatever they did before retirement.
Dental insurance and Medicare Part D are two of the top insurance scams running today
Don't trust me, look it up. https://www.irs.gov/forms-instructions-and-publications
MishkaWorries
Posts: 1390
Joined: Wed Aug 14, 2019 4:39 pm

Re: How do you budget and pay for dental implants after retirement

Post by MishkaWorries »

livelovelaugh00 wrote: Wed Apr 03, 2024 1:07 pm A self reflection here, maybe for future retirees when you make your pre-retirement planning, I should have done an in-depth oral exam before retirement three years ago. Find a place that can take a CBCT scan instead of just x-ray. It would give me the necessary information to make an informed decision to pull the failed root canals and do implants while I was still working with two dental insurance.
Thank you for this suggestion! That is very helpful information.
We plan. G-d laughs.
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