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Routine dental work can cost hundreds of dollars per year without insurance. If you need more complex procedures, you may have to spend thousands of dollars.1 As a result, dental insurance can be a critical piece of your financial plan.
If you have a dental insurance plan, you may be wondering if you can deduct premiums on your taxes and save more money. In some cases, premiums are tax deductible. This article will explain how dental insurance works, when it may be tax deductible, and how to calculate your deduction if you qualify.
Dental insurance is a form of insurance that helps the policyholder pay for many dental expenses. In exchange, the policyholder pays monthly premiums to maintain their coverage.
On average, dental insurance premiums cost $47 per month, or $564 per year. Many dental plans cover 100% of the costs of routine preventative care, such as exams, cleanings, and checkups.2 Many plans also cover at least part of more complex procedures. Aflac offers dental insurance with reasonable rates and policies to help cover a wide range of treatments.
Dental insurance may be tax-deductible in certain situations. However, not all premiums will be tax-deductible. It may also depend on your financial situation, which state you reside in, and whether you’re paying with pre-tax or post-tax dollars.3
You may be able to deduct your dental insurance premiums if you pay them with post-tax dollars and you itemize your deductions on your taxes instead of taking the standard deduction. It’s also possible to deduct the costs of some dental procedures, such as the following:4
If you’re self-employed, it may be possible to deduct all of your dental insurance premiums if no coverage is available through your or your partner’s employers. You can typically only deduct as much as the amount of net income your business earned.5
Here are some pieces of documentation you will likely need to keep to deduct dental expenses, if you qualify:
You may deduct dental insurance premiums and other dental costs in certain situations. This can help you save more and afford the care you need. But dental insurance can be a worthwhile investment even if you can’t deduct your premiums. Policies tend to be affordable and may cost less yearly than paying for routine work uninsured. Plus, if you need more expensive work done, dental insurance could help protect you against spending thousands or going into debt for certain procedures. Get a dental insurance quote today from Aflac, or speak with an agent to learn more about our dental insurance coverage.
1 Forbes – How Much Does Dental Work Cost? Updated January 12, 2023. https://www.forbes.com/advisor/health-insurance/dental-work-cost/. Accessed May 11, 2023.
2 Forbes – How Much is Dental Insurance? (Coverage & Cost) Updated April 26, 2023. https://www.forbes.com/advisor/health-insurance/dental-insurance-coverage-and-cost/. Accessed May 11, 2023.
3 Investopedia – Is Dental Insurance Tax Deductible? Updated August 19, 2022. https://www.investopedia.com/ask/answers/112415/dental-insurance-tax-deductible.asp. Accessed May 11, 2023.
4 GoodRx – Are Dental Expenses Tax Deductible? Updated January 11, 2023. https://www.goodrx.com/insurance/taxes/are-dental-expenses-tax-deductible. Accessed May 11, 2023.
5 Nolo – The Self-Employed Health Insurance Deduction: A Valuable Personal Deduction. https://www.nolo.com/legal-encyclopedia/the-self-employed-health-insurance-deduction-a-valuable-personal-deduction.html. Accessed May 11, 2023.
Content within this article is provided for general informational purposes and is not provided as tax, legal, health, or financial advice for any person or for any specific situation. Employers, employees, and other individuals should contact their own advisers about their situations. For complete details, including availability and costs of Aflac insurance, please contact a local Aflac agent.
Coverage underwritten by American Family Life Assurance Company of Columbus. In New York, coverage underwritten by American Family Life Assurance Company of New York:
Arkansas, Policies A81100AR–A81400AR. Policies A82100RAR–A82400RAR. In Delaware, Policies A81100–A81400. Policies A82100R–A82400R. In Idaho, Policies A81100ID–A81400ID. Policies A82100RID–A82400RID. In New York, Policies NY81100–NY81400. Policies NY82100–NY82400. In Oklahoma, Policies A81100OK–A81400OK. Policies A82100ROK–A82400ROK. In Oregon, Policies A81100OR–A81400OR. Policies A82100ROR–A82400ROR. In Pennsylvania, Policies A81100PA–A81400PA. Policies A82100RPA–A82400RPAR. In Texas, Policies A81100TX–A81400TX. Policies A82100RTX–A82400RTX. In Virginia, Policies A81100VA–A81200VA. Policies A82100RVA–A82400RVA.
Coverage underwritten by Tier One Insurance Company:
Dental, Vision and Hearing: In Arkansas, Policy T80000AR. In Delaware, Policy T80000. In Idaho, Policy T80000ID. In Oklahoma, Policy T80000OK. In Oregon, Policy T80000OR. In Texas, Policy T80000TX. Not available NY or VA. Dental claims are administered by Aflac Benefits Solutions, Inc. Vision claims are administered by EyeMed Vision Care, LLC. Hearing claims are administered by Nations Hearing. NOTICE: The coverage offered is not a qualified health plan (QHP) under the Patient Protection and Affordable Care Act (ACA) and is not required to satisfy essential health benefits mandates of the ACA. The coverage provides limited benefits. Tier One Insurance Company is part of the Aflac family of insurers.
Coverage may not be available in all states, including but not limited to DE, ID, NJ, NM, NY or VA. Benefits/premium rates may vary based on state and plan levels. Optional riders may be available at an additional cost. Policies and riders may also contain a waiting period. Refer to the exact policy and rider forms for benefit details, definitions, limitations and exclusions.
Aflac WWHQ | Tier One Insurance Company | 1932 Wynnton Road | Columbus, GA 31999
Z2301200
EXP 11/24
