How Will I Cover Dental Care Costs in Retirement?

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A lot of things change in retirement. Your daily routine, once so heavily focused on the ins-and-outs of going to and from work, now has a really big gap that needs to be filled. It's not just the paycheque that needs replacing, either. There's a massive shift in the mindset from that of a member of the workforce to one of a retiree.

Preparing for this monumental leap is a lot easier once you know all your ducks are in a row. For example, when you made plans for your income in retirement, were increased dental care costs factored into the big picture? We certainly hope so!

The High Cost of Dental Care

We can rest assured that many of our healthcare costs will be taken care of in retirement in Canada. That’s a huge weight off our collective shoulders! However, there are a number of exceptions to the provincial and territorial healthcare plans in Canada. The cost of services like eyeglasses and dental care, for example, are notable exemptions.

It seems that a lot of soon-to-be retirees are in the dark about how picking up the cost for these additional services will affect their household budget. In fact, according to a recent study, many Canadians don’t expect to pay any additional expenses relating to their healthcare. In reality, the 2012 average out-of-pocket tally for healthcare expenses was $1,354.

An unexpected expenditure of over $1,000 in a single year would be hard for many workings adult to swallow, let alone those getting by on a fixed income!

Dental Care is Not Optional!

Because routine visits to the dentist aren’t covered by government health insurance plans, many people view oral health care as an option rather than a requirement. This is a dangerous assumption! The link between good oral health and good overall health is well-established.

Poor dental care can affect your health in many ways that go beyond tooth loss, though tooth loss is a pretty serious concern on its own. Those who do not make regular trips to the dentist are at greater risk for gum disease, which can affect blood pressure and worsen diabetic conditions. Moreover, the elderly are more susceptible to the health complications that go hand-in-hand with poor dental care.

Now that you understand that dental care is not something to be taken lightly, it’s prudent to develop a strategy to pay for dental care costs in retirement, and it’s best to do so well before you reach the age of retirement.

Consider Private Health and Dental Insurance Options

Private health and dental insurance is one way Canadian retirees can help manage the unexpectedly high costs of managing dental care in retirement. The best time to start exploring your options is right now, before your retirement.

An insurance broker can help you evaluate your options for dental insurance, so be sure to contact one today!


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