What Is Care Credit & How Can I Use It For My Dental Bills?

Care Credit Information

There is no denying the fact that medical expenses are going through the roof and are becoming extremely expensive! For many, these expenses are well on their way to becoming unaffordable!  Hence it is quite common for people to seek our alternate ways to afford the medical treatment that they need.  In this article we will examine an innovative plan called care credit. Care Credit is a finance plan that helps thousands of people who otherwise would find it difficult to take care of their health care and dental needs.  Since Care Credit is a relatively new creative finance venue, its’ benefits are not widely known about.   With that in mind, here is a brief summary of how Care Credit works:

What One Needs To Know About the Care Credit Payment Plan

If you look up television and other forms of advertisements it is not unusual to come across these forms of payments. Put in plain and simple words Care Credit is basically a financial tool, which helps you to make deferred payments for expenses incurred only for the sake of medical treatment. This certainly helps those who have big medical expenses to handle, including expenses, which are required for keeping teeth, gums and your oral health in good shape.  However, before using these, it is important to understand certain guidelines!

Care Credit is to be Used For Health Care Purposes Only

It should be kept in mind that these cards should be used only for health care purposes and are specially designed to meet health expenses which otherwise may not have been possible.

You Must Make Your Care Credit Payments On Time!

As is the case with other credit cards, when it comes to these special cards for health expenses, it is imperative for you to make your payments well on time. Late payments will entail being charged a higher interest. If the payment is delayed beyond a certainly period of time, it is quite likely that you will be asked to pay compound interests and other penalty charges. Also, you must make it a point to clear the bill within the stipulated time period.

Understanding About Paying Within The Promotional Period

For each of the medical procedures, there typically is a promotional period. You must be sure that you make the payment before the expiration of the promotional period. Unlike a conventional credit card, minimum payments are not enough to take care of this credit card. Hence you must find ways and means by which you are able to pay the full payment before the end of the promotional period. Nonpayment of the full amount within the period would lead to a bad credit history and the credit card usage may also be blocked till such time things are taken care of!  If you are not sure when the promotional period will expire, contact the service provider and get more details. The crux of the matter is that you must not delay paying off the full amount if you wish to use the card over and over again for various health related purposes.

Pros of Such Cards

The biggest advantage with care credit plans is that it helps patients to have easy access to funds when they need it the most. There are many health insurance policies, which come with a host of deductibles, and having a way to help pay this uninsured portion is very useful. For example, if there is a need to extract teeth urgently, patients can go ahead and get it done immediately even if they do not have ready cash available.

Disadvantages

As is the case with all these deferred payment plans, you can be charged a high interest cost if you miss a payment or do not pay it off within the stipulated time frame.  You must find out ways to pay off the entire outstanding within the due date. If this is not done then the interest burden will become quite heavy and reach overwhelming stage after a period of time.

These are just a few basic things to know about Care Credit plans.  HSM Dental Group is dedicated to helping our patients in all aspects of dental care.  If you have any questions about these plans or any other aspect of your dental care, please call our staff at (561) 232-2070.  Our team of dental professionals at HSM Dental Group will be happy to assist you in any way we can!