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by Barry30 Comments
Stacy has long been bothered by her smile, feeling self-conscious about it and trying to hide her teeth. I personally have never been concerned by this and yet “fixing her smile” has been on Stacy’s wish list for a very long while. A couple of years ago she went to the orthodontist and got a price quote on braces. Sticker shock caused her to put it off then. For those who have missing teeth, you may consider getting Dentures to restore your full smile.
Fast forward to a few months ago and we finally agreed that if she was ever going to get braces or perhaps other dental services like All On 4, she just needed to go for it. We had some savings and so we fully expected to pay cash for the entire thing, but after discussing and considering it, we decided to not pay cash up front. Why? Here are the four big reasons we didn’t pay cash for braces.
The Savings is Good, but not Great
Yes, I can do the math. We are paying $348 more (total) for her braces than we would be if we paid cash up front. $348 is nothing to sneeze at – it is a lot of money. At the same time, $348 over the course of the entire treatment isn’t a number that made us automatically decide paying cash was our best option.
A Lot Can Happen
This is a two-edged sword. What if we end up hating this orthodontist and have to go somewhere else? What if it is discovered the orthodontist office is actually a front for the mafia? What if they hate us and want to up-charge us on everything? What if part way through we decide we don’t want to continue or something changes that says we need to stop? What if, what if, what if. The point is this: over the course of the time Stacy will be going through treatments, there is a lot that can happen. Trickling monies toward that effort rather than paying for the unknowns made us feel better.
It Just Didn’t Feel Right
You know sometimes you aren’t sure exactly why, but you know something isn’t right? That’s the way Stacy and I both felt about dropping $5,400+ in cash for her entire treatment. While there is no such thing as a “cheap” trip to the orthodontist, we have come to grips with the cost and could have paid cash for it because we’ve been saving for a while. But something about that approach just doesn’t feel like the right thing for us…and I can’t really tell you why.
Flexible Spending
We don’t have dental insurance, but my work offers flexible spending options for medical expenses. This year, since we didn’t sign up early on, we can’t take advantage of that tax savings. Next year, however, we fully plan to maximize the benefit of tax savings for her medical costs through an FSA. This may actually save us a lot more than the 6% cash discount offered at the very beginning.
I know this post is rather short and doesn’t give you mathematic or scientific reasons we decided not to pay cash for braces. At the same time, I hope it gives you some food for thought as to why we made the choice we did. It may be the right one and it may not be…only time will tell. But it was the decision we agreed was best for us.
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About Barry
Barry is the husband half of the Humorous Homemaking team. He speaks and writes mostly about personal development and personal finance issues. He is the author of From Debtor to Better: The Details of Debt and How to Get Out! and regularly speaks at conferences and other events.
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Bill saysMy wife thought I was over thinking the whole payment thing. They want me to Pay all up front, or add 350$ in finance charges and pay over 2 years. My first thought was NO Way. It just seems so wrong on many levels. Over the next 2-3 years my son will be going to his appointments, and they want their money before the process starts. I trust them, but I don’t know if they will be in business next week or next year. Like I told my wife, when you build a house or restore a Car. You make stage payments along the way, for work that is done. You don’t pay the roofer when the roof is not on the house for you to inspect and are satisfied. If you do, there is a good chance that is not happening. One time during the painting of a classic car, I had 80% of the job paid for. The painter/body guy only had 30% of the work done. Since there was no financial incentive for him to complete the 70% of the work, my car went onto the back burner, and the project dragged on forever.
My lesson learned was I would never be over the barrel again.
I have not spoke with the Finance department yet, but I will make stage payments in Cash.
I will not be paying finance charges either, or I go somewhere else.Reply
- Gary says
You can still pay cash up front and reimburse yourself later with your HSA/FSA, that way you can get the tax savings plus the cash discount.
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- Barry Myers says
Not a bad suggestion! We weren’t eligible for an HSA when we went through this process, but it would absolutely be a possibility for those that are! Thanks for sharing this idea.
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- Tara says
I’m scared to smile because my teeth are messed up. All my friends have pretty teeth and mine is bad! Their not all that bad just my two front teeth are crooked.
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- Stacy says
I know the feeling – that’s why I finally made the braces plunge. And already I am SO pleased with how I can tell they are going to turn out! 🙂
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- Carol Truby says
I’m an insurance agent and becoming a fan of HSA plans (high deductible health savings account eligible). Since health insurance doesn’t cover everything that the IRS says can be medical deductions, like braces, and visiting the doctor may be a minor use of your health insurance, this provides you with tax savings. Braces can decimate your HSA in one fell swoop & some accounts don’t let you make a lump sum deposit (this may be necessary if its a new account or your balance carry-over is low) so it makes sense to spread it over a couple of years.
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- Anne says
For both my daughters braces we paid the price in full up front. It worked out very well for us both times. That being said, our orthodontist is a friend, and a reputable office. We have never paid for anything since. My oldest daughter grinds her teeth and wore out her retainer and the office made her one for free. This was a year after braces were completed. So I think people should do what they feel is right for them, but I just wanted to give an alternative choice. We saved around $3-500 up front with each daughter and never had to worry about making payments. We also trusted and knew we were in good hands with our orthodontist so this helped!
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- Stacy says
That’s great, Anne! Thanks for chiming in. 🙂
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- Alison says
Yep, I agree with everything you said, and did the same thing! And now my teenage daughter just got them, and we’re doing the same thing. I just finished my braces a couple of years ago (my mom couldn’t afford them when I was a kid). It was definitely worth it! The only annoying thing now is that the retainer that I wear at night 2-3 times a week interferes with my dreams occasionally. I sometimes dream that I have lots of hair in my mouth or a big wad of gum. I never had those dreams with my braces. Oh well, best of luck to you! 🙂
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- Stacy says
That made me LOL. Thanks! 🙂
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- Deann says
Stacy- I too have “bitten” the bullet and as of tomorrow, have had my braces for one whole week. I had to get the traditional brackets because of a congenital defect so my Dr is going to try and force two adult impacted teeth down to where they should be and couldn’t do that had I gotten Invisalign. We (my hubby and I) did not pay in full up front either. It’s nice to know I’m not the only adult going through this. I also have been told despite what a pain this process is I’ll be thrilled in the end, I sure hope so! Best wishes to you on your new smile journey!
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- Stacy says
I go in today! ACK!!! 🙂 I’m super nervous.
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- Jen says
A few months ago my **72** year old mother got braces (So my 12 year old and my 72 year old both wear them!).. She’s thrilled and wishes she got them sooner. She was not thrilled when she found out she’s not their oldest patient..someone else got them at 75!
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- Stacy says
That is SO awesome!!!!!!!!!!!!!!!!!!!
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- Rebecca says
Just had to say……LOVE that spunk!! We are never too old to self improve, inside or out, are we?
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- Tracy says
We paid every month for two years for each of our boys. Remember the orthodontist financial person wanting to set themselves up as an auto withdrawal from our checking account. I told them I don’t let any company auto deduct money from my account. We went round and round until I finally said let’s try it my way and if, IF I wasn’t getting the payment to them each and every month we could sit and discuss another payment method. We never had that talk. Amazingly, some people do pay their bills when they are supposed to.
Congrats and enjoy your future smile.Reply
- Carole says
Years ago we faced the same dilemma. We asked our tax guy who counseled us sometimes on money problems. He said that once they get the full price, they tend to take you for granted and not try as hard. So, we did as you are doing. I don’t know if his advice was correct or not.
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- Stacy says
We’re hoping that it proves to be so! It’s what Dave Ramsey recommends as well. 🙂
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- Rebecca says
My cousin and I were talking some years back when we both had teens in braces and observing the miracle that occurs when you make your final orthodontia payment……..all of a sudden, the orthodontist decides the patient is “cured” and the braces come off pretty quickly after that. Sometimes the chair time/payment spurs them on. We never missed a payment, our insurance paid $1500 (per child, we didn’t put them both in braces at the same time, we just couldn’t afford it) and we made payments for right around 3 or 4 solid years (the month after child #1 came out of braces, child #2 went straight into them the next month). Towards the end of the 2nd child being in them, they wrote off the last $900 since they knew we had been paying for braces for 4 years. I guess it was a pity thing but being a good steward and paying monthly faithfully paid off.
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- Katie says
Why does not paying the whole sum up front (which makes sense) mean you can’t pay with cash as you go? Just curious. That’s what I remember my parents doing…$100 check at each appointment for about three years. 🙂 I had no appreciation at the time for how very much money that was…especially as my parents were a doctoral student and a nurse at that time. It’s a gift I appreciate so much…these 20+ years later I often still notice my teeth in pictures with thanks. They aren’t perfect…but they were terrible. Go get yourself a big caramel apple and some gummy bears to enjoy while you can!! 😉
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- Stacy says
We are paying cash…as we go. We didn’t pay 100% up front like we normally do – instead we scheduled cash payments. That’s the difference. In doing so, we lost the “discount” that could have been obtained by paying it all at once.
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- Erin says
Hey, Stacy!
I had braces as an adult, and it had its frustrations (flossing!) but it was SO worth it!!!
“I just like to smile, smiling’s my favorite!” 😀Reply
- Stacy says
I cannot wait to say that!!! 🙂 Buddy the Elf, what’s your favorite color?
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- Dineen says
Those are some good “what if” questions. I know many times I’ve started my family on new medical relationships with great hopes and feelings that “this is a good fit” only a few months or a year later to have things decline as staff changes or true behaviors come out after those initial visits.
This is a timely thing for my family too as my 7 year old daughter’s teeth are coming in crooked and orthodontic care is not covered by our insurance.
Stacy, I am glad you had your encouraging friend to urge you to go for it. Best of luck to you on the process.Reply
- Stacy says
Thank you SO much! 🙂 I hope you keep you guys posted on my progress.
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- Noah says
I used FSA to pay for Invisalign that I wanted as an adult because I was a stubborn teenager and didn’t wear my retainers after my parents spent a ton on braces the first time. I was also offered a cash discount if I paid upfront, but by using FSA I saved a lot more because of the tax benefit. I started paying at the end of one year and then used the full amount I was allowed from the next year.
Stacy – Totally worth the cost in my mind. I smile all the time now and am not at all self conscious about it anymore.
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- Stacy says
Oh, I do so hope this is me! 🙂 Thank you for your encouragement!!!
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- Kimberly says
Thanks for the tips. I have thought about getting braces as an adult and never thought of things this way. My company also offers an FSA so I will consider that as well.
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- Stacy says
I’m excited, and yet nervous at the same time. It’s something I’ve wanted for a long time but didn’t want to pay for – until a friend asked me which was more important? Money, or being confident in myself?
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[…] We are choosing to pay as we go, instead of taking the discount for paying in advance. Some have wondered if that means we don’t have the cash for this. Absolutely we do. Otherwise, we wouldn’t have done it. We are just making a monthly payment from that fund instead of paying in advance for care…which can sometimes get you into a pickle. Mmmmm, pickles. […]
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