When it comes to Invisalign payment plans, there is a quite a simple format discussing a range of options that we can follow which makes financing the cost of Invisalign extremely simple and clear (even for those with bad credit).
Firstly, let's estimate the price of Invisalign. Typically speaking the Invisalign treatment can cost anywhere from $3500 to $8000 depending on numerous factors (such as which dentist you went with, what needs to fixing exactly and so on) -- in rare cases it can be more and can be less.
But the usual figure quoted as the average price for Invisalign is at $5000 (and this is the Invisalign price we will use throughout the rest of the article for demonstration purposes).
#1 Dental Insurance For Invisalign
So your first point of call should be your dental insurance, if you have it (if you are without insurance, there's no need to worry). Usually they won't pay for the full treatment, but are likely to pay a partial payment anywhere between 10% to 35% out of it (or not at all, as they may consider it as cosmetic given its aesthetic advantage), again how much they are willing to pay is entirely based on their set of rules and principles. So make sure you make a note to get on the phone and see what's their deal.
Here, let's say they will pay $750, which is 15% of the overall Invisalign charge and are left with a $4250 still remaining (if you don't have any insurance you're still on the 5000 dollar mark, but don't worry you still have plenty of opportunities to knock that bill right down).
#2 Consult Your Flexible Spending Account (FSA)
If you can, this is definitely something you want to take advantage of given the 'tax break' aspects that you can benefit from. If you are unsure as to what it is, the IRS will basically take a proportion of your income before it comes to you and taxed that will go directly to paying health care costs. Be sure to consult IRS rules for details. This can potentially allow you to remove $2500 from the cost and the entire thing if you are married (combining to make $5000).
However, for the sake of Invisalign payment plan examples we will say you want to put $500 into your FSA. So we are now have a $3750 bill left.
#3 Use Your Health Savings Account (HSA)
Again, this is another tax advantaged program for you to use to further reduce the price of your Invisalign treatment and is a bit more lenient with the rules (given that you don't have to pay in the same year as you do with the FSA). You simply needed to have set up an account with the sole purpose of being used for deducting the costs of health bills. It is a pre-cursor to a future cost. The advantage is that it is tax free savings being made.
You might have left $50 in there so. Again, you might have the full $5000 saved and you are able to pay it off right. Here we are now left with a $3700 bill (or if you haven't managed anything yet, still at the $5000 mark).
#4 Shopping Around for the Best Invisalign Deals
You may not believe it, but the prices of the very same treatment can differ drastically from dental practice to practice. Even if they are in the same state. Like you would anything else, this 'shopping around' activity is a must if you want to save a whole lotta money on your Invisalign cost. The same $5000 treatment you would get at ABC Dental practice, might cost $4000 in XYZ Dental practice that is just a good few miles away (a saving of $1000 right there, trust me there is money to definitely be saved). Look over the 10 factors that influence the cost of Invisalign.
Remember you aren't buying from Invisalign directly, you are buying from the dental practice (who buys the dental grade materials from Invisalign at a set price that all dentist practices do) that totals up the cost with the use of the Orthodontist's time, check ups etc.
To be somewhat conservative in this regard, say we have managed to save a potential $250 for switching dental clinics (it might be much more, it might be less) yet are getting the same treatment. We are now looking at $3450.
Invisalign Monthly Payment of $62 Example
#5 Invisalign Specials, Deals and Coupons
This is something that you might want to factor in with #4 when searching around for Invisalign treatment. But, if you do a quick search, even within Groupon you will see that Invisalign practices all over the country are holding special vouchers and promotions offering a certain percentage off their treatment absolutely free. E.g. Invisalign in Houston with Cosmetic Dental Texas they are offering the complete package ($5000 in value) for just $2700. They will hold promotions on all sorts such as giving you a free ipad, free teeth whitening, free x ray scans (usually costing $500).
Again, let's be conservative as to what you will find, but if you haven't managed to get at least $250 knocked off from a promotion nearby on Invisalign, you need to keep searching. Presume we are now at the $3200 mark (probably much less with all the above used in fairness).
#6 Negotiating Your Invisalign Monthly Payment Plan
Now usually speaking they will offer you a 24 month term period of zero percent interest and anymore than that e.g. 68 months, they will imply a small interest rate (this will make the cost cheaper per month, but this is where they will start to make money on you). However, now you are in a bit of negotiating territory. Here, the objective is to get as long as possible on your term agreement as possible with a 0% interest rate and the leverage you have will be the downpayment amount that you are willing to make.
The reason why you want to extend the term payment to as long as possible is to benefit from real gains (an economic term for basically your $100 will buy you more in the Summer of 2014 compared to Summer 2017 due to inflation). So you might pay $500 as a down payment on the basis that you get 24 months free interest in which case you will be paying $113 every month for two years.
So by taking advantage of working out solid Invisalign payment plans you can force your Invisalign cost right down, ensure that you put hard graft into points 4 and 5 as well as 2 and 3 and you can get away with paying $50 per month for a treatment worth $5000. Basically we have used the example above with Galante Dentists and hacked their price down with coupons, vouchers offers, negotiated their fee right down, used all the tax advantages possible and so on.
Bonus #7 What if You Have Bad Credit?
Even if that's the case you can still hugely benefit from the deals and vouchers on offer with Invisalign and you will find typically dental practices will make flexible payment plans with you that are independent of your bad credit score. So there isn't much to worry about in this regard.