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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 policy with comprehensive coverage costs $52 a month. Many dental plans cover 100% of the costs of routine preventative care.2 Many plans can also cover a portion of more complex procedures. Aflac offers dental insurance with reasonable rates and policies to help cover a wide range of treatments.
Dental insurance premiums may be tax-deductible if they are for procedures that help prevent or alleviate dental disease. Costs for cosmetics procedures are not considered tax deductible. It may also depend on certain conditions, which state you reside in, and whether you’re paying with pre-tax or post-tax dollars.3,4,5
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.5 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.6
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 August 23, 2023. https://www.forbes.com/advisor/health-insurance/dental-work-cost/. Accessed October 9, 2024.
2 Forbes – How Much is Dental Insurance? (Coverage & Cost) Updated June 10, 2024. https://www.forbes.com/advisor/health-insurance/dental-insurance-coverage-and-cost/. Accessed October 9, 2024.
3 Investopedia – Is Dental Insurance Tax Deductible? Updated December 11, 2023. https://www.investopedia.com/ask/answers/112415/dental-insurance-tax-deductible.asp. Accessed October 9, 2024.
4 GoodRx – Are Dental Expenses Tax Deductible? Updated January 11, 2023. https://www.goodrx.com/insurance/taxes/are-dental-expenses-tax-deductible. Accessed October 9, 2024.
5 H&R Block – Health insurance premiums: Can they be deducted as medical expenses? https://www.hrblock.com/tax-center/filing/adjustments-and-deductions/deducting-pre-tax-premiums/. Accessed October 30, 2024.
6 IRS – Topic no. 502, Medical and dental expenses. https://www.irs.gov/taxtopics/tc502. Accessed October 9, 2024.
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.
Aflac coverage is underwritten by American Family Life Assurance Company of Columbus. In New York, Aflac coverage is underwritten by American Family Life Assurance Company of New York.
Dental: In Delaware, Policies A82100R–A82400R. In Idaho, Policies A82100RID–A82400RID. In Oklahoma, Policies A82100ROK–A82400ROK. In Virginia, A82100RVA–A82400RVA.
Dental, Vision, and Hearing coverage is underwritten by Tier One Insurance Company. Tier One Insurance Company is part of the Aflac family of insurers. In California, Tier One Insurance Company does business as Tier One Life Insurance Company (Tier One NAIC 92908).
Dental, Vision and Hearing: In Delaware, Policy T80000. In Idaho, Policy T80000ID. In Oklahoma, Policy T80000OK. Dental claims are administered by SKYGEN USA, LLC. 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.
Coverage may not be available in all states, including but not limited to 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
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