Dental work can be downright expensive and often way out of your price range. Some people simply refuse to seek treatment because they know they can’t cover the price tag.
But the thing is, sometimes dental work is necessary for good health or to alleviate any acute pain or discomfort. If your bank account isn’t adequate to cover the cost of a trip to the dentist, consider dental financing options in Canada.
Key Points
- Dental care can cost Canadians thousands of dollars a year, which may be out of reach for many.
- Those who can’t afford the cost of dental care or lack insurance coverage may turn to dental financing for help.
- Several dental financing options are available, including personal loans, lines of credit, in-house financing, and government-backed financial assistance.
Is Dental Care Covered Under Canada’s Healthcare System?
Dental care is not covered under health care plans in Canada, except under emergency situations.
However, the federal government recently introduced its Canadian Dental Care Plan (CDCP), an insurance-based program that is designed to help lower-income families cover the cost of dental care. More government-backed programs may also be available on a provincial level, depending on the province.
However, these programs are only available for certain people, as you’ll need to meet income criteria. Further, these programs do not cover every type of dental service, like orthodontic services (e.g. braces), which can be very expensive.
| Note: Private or employment dental coverage can be very useful in these situations, and can cover a wide range of dental services, including crown, dentures, orthodontic care, oral surgery, and others. |
Moreover, many of these insurance plans have caps on coverage amounts, or require a deductible to be paid. In this case, dental financing can be very helpful for bridging the gap or covering the full cost of dental care entirely.
Can You Get Financing For Dental Services In Canada?
If you need some financial assistance to pay for dental work, you have certain options, including the following:
Personal Loans
You can take out a personal loan to pay for your dental work. These loans are generally unsecured, which means no collateral is needed for this type of loan.
The interest rate and the loan amount you may be eligible for will depend on the strength of your credit and financial health. Personal loans are paid back in installments until the full loan principal – plus interest – is repaid.
| Why This Option Is Suitable For Dental Work Expenses A personal loan can be a good fit for dental expenses because it provides fast access to funds, allowing you to spread the cost of your procedures over time, making expensive dental bills more manageable. |
Specialized Dental Financing
Many dentists provide financing programs through their clinics that are sometimes interest-free. Dental work that is more on the expensive side is more likely to come with the option to finance, such as braces or dental implants.
| Why This Option Is Suitable For Dental Work Expenses Dental in‑house financing may be suitable for dental expenses because it lets you spread the cost of treatment into manageable payments directly through your dentist, often with a lower interest rate. It is often easier to qualify for as well. |
Small Interest-Free Credit Lines & Cash Advances
Some services offer small, short‑term cash advances and credit lines that can help cover urgent expenses like dental work when you don’t have the funds upfront. They typically provide fast access to a few hundred dollars with no credit check, making them useful for bridging the gap until your next paycheque.
- Nyble offers small cash advances of up to $250 to help cover short‑term expenses, like dental work, before your next payday.
- Bree provides instant cash advances of up to $750 with no credit check for urgent needs.
- MoneyUp gives eligible users access to cash advances up to $1,000 to bridge financial gaps.
Why This Option Is Suitable For Dental Work Expenses
A line of credit works well for dental expenses because it lets you borrow only what you need, when you need it, and pay it back at your own pace. Its revolving structure makes it ideal for ongoing or unexpected dental treatments, without the need for multiple loan applications.
You can also choose to carry a balance temporarily by only making interest payments, unlike a personal loan where the principal needs to be repaid in periodic installments. If you have problems with your oral health and expect to visit your dentist several times over the near future, a line of credit may be best.
More specifically, this option is ideal especially in an emergency dental situation, giving you access to money quickly when it’s a priority.
Dental Work Loans For People With Bad Credit
If you have bad credit, there are still ways to finance dental care:
- Private Lenders: Many online private lenders specialize in working with borrowers with bad credit. They generally consider the borrower’s overall financial picture, more than their credit score. These lenders also often provide quick approvals and fast funding for dental procedures for those with bad credit.
- Secured Loans: If you have bad credit, opting for a secured loan can help you get a loan. Using an asset as collateral to back the loan reduces the lender’s risk, allowing for increased approval chances.
- Co-Signer Loans: Similar to a secured loan, you can get a co‑signer with strong credit, like a close family member, to help you qualify for better rates and higher approval odds.
How To Get A Dental Loan If You’re Covered By Work Or A Government Program
Even if you have work insurance or qualify for a government program, you may still face uncovered procedures, deductibles, or fees above the plan’s schedule. A dental loan can help bridge these gaps.
To get a dental loan even if you have coverage under your employer or a government program, consider the following:
- Calculate What Your Plan Won’t Cover: Government programs provide benefits but may not pay full costs.
- Compare Lenders: Do some research among lenders and compare their offers on dental loans.
- Provide Proof Of Income: Make sure you can provide the lender with proof of employment, benefits, pensions, or other income sources to help you qualify.
- Apply Only For What You Need: Don’t take out any more than what’s needed to cover out‑of‑pocket expenses.
A dental loan ensures you can get dental treatment right away, even if your insurance plan only covers part of the bill.
How To Choose The Best Dental Loan
To make the best decision in terms of dental financing, consider the following:
- How Fast Do You Need The Money? Some lenders will give you the borrowed funds on the same day you apply, especially online lenders, while others might take a few days to extend the money. Make sure you compare lenders to find one that offers fast turnaround times if you are in urgent need of cash.
- Do The Monthly Payments Fit Your Budget? A dental loan will require that you repay the full loan amount in regular installments. Make sure these monthly payments fit well within your budget before signing the contract.
What Type Of Procedures Can You Pay For With Dental Financing?
No dental treatment is off-limits when it comes to how you choose to use the funds from a dental loan. Whatever your dental need may be, dental financing can help you cover these expensive bills. Here are just some of the dental procedures you can pay for with dental financing:
- Regular dental check-ups
- Dental cleaning
- Cosmetic dental work
- Root canals
- Dentures
- Dental implants
- Braces
- Emergency dental work
- Fluoride
- Fillings
- Mouth guards
- Crowns
- Retainers
- Invisalign
- Veneers
- Tooth repair
Alternative Ways To Finance Your Dental Costs
While dental loans can be a great help when your bank account can’t support an expensive dental work bill, there are other ways to cover these costs.
Check If You’re Covered
Are you an employed worker or student at an accredited post-secondary institution? If so, you may have some form of dental coverage without realizing it.
Before seeking out dental financing, find out first if you’re already covered. Call your employer or school to see what they offer, as many offer dental plans for employees and students.
Check Your City Or Province For Dental Financial Assistance
Depending on your income and financial status, you may qualify for some form of financial assistance from your local or provincial government. These programs offer heavily discounted or free dental work for those who are eligible, including low-income Indigenous individuals, the disabled, the elderly, and children. Generally speaking, only basic dental care and preventative services are covered.
In Ontario, for example, the Healthy Smiles Ontario program offers free dental services to children under 17 years of age, including dental exams, preventive care, and emergency dental services.
See If You Qualify For The Canadian Dental Care Plan
The Canadian Dental Care Plan is an insurance-based program from the federal government. Under the CDCP, patients are not required to pay the full cost of their dental care. Instead, dental providers who are enrolled in the program will submit claims directly to Sun Life, an insurance company that administers payments on behalf of the CDCP. Dental providers will then be reimbursed for a portion of the costs.
The amount a patient may need to pay is determined by their family net income. To qualify for the CDCP, participants must not already have a dental insurance plan, and cannot have a net family income exceeding $90,000.
Buy Dental Insurance In Canada
If you have the financial means, you may consider taking out a dental insurance policy so you’re covered whenever the need to visit a dental professional arises.
However, most dental insurance policies don’t cover the full cost of dental treatments. Instead, you’ll need to pay a deductible when you make your first claim, after which the policy will kick in. At that point, only a portion of your dental cost will be covered, depending on the specifics of your plan. That means you’ll still have to pay some of the cost out-of-pocket.
Four types of dental insurance coverage are available in Canada: basic, comprehensive basic, major, and orthodontic. The cost of these plans varies greatly.
| Dental Work Expenses May Not Be Fully Covered By Dental Insurance Private dental insurance in Canada often leaves patients with out‑of‑pocket costs because most plans only cover a portion of treatment fees. Many policies reimburse a certain percentage based on their fee guides and specific plans, which may be lower than what dentists actually charge. As such, you’ll need to pay the difference. Coverage limits, annual maximums, and exclusions for certain procedures can also reduce how much insurance will pay the dentist. Consider this before taking out a private dental insurance plan |
How Much Do Common Dental Procedures Cost?
There are so many types of dental procedures available, and the cost associated with each varies quite a bit from one dentist to another. Further, the same procedure may also vary based on location and dentist.
That said, the following is a list of some of the more common dental procedures and the average cost for each1:
| Braces | $4,000+ |
| Root canals | $732 – $1,579 |
| Porcelain veneers | $1,349 – $1,449 |
| Wisdom tooth removal | $325 – $700 per extracted tooth |
| Dental implants | $4,165+ per tooth |
| Filings | $207 – $477 |
| Dentures | $591 – $2,053 |
How Much Do Canadians Spend On Dental Care?
Canadians are fortunate in that they don’t have to pay out-of-pocket to see a doctor when a medical need arises. But that’s not the case with visits to the dentist.
It’s estimated that the average amount spent on dental services on a per capita basis every year is $378.60 per Canadian2. And if there is any major dental work required, that number can easily and quickly skyrocket. Add several household members to the total, and the dollar figure can be too much for some Canadian families to handle.
Cost Of Dental Care Is A Deterrent For Many Canadians
While many Canadians are fortunate enough to have a large portion of their dental visit costs covered by employment insurance plans, many others are left to pay for these visits on their own. Unfortunately, due to the high cost of seeking dental care, 1 out of 6 Canadians who have a dental need do not visit a dentist due to financial reasons, according to the Canadian Dental Association3.
As a result, lower-income Canadians tend to experience more oral health problems than the general public. More specifically, 47% of lower-income Canadians had a dental need identified. That’s nearly twice the amount of higher-income Canadians. With finances being a clear hindrance to proper dental care, dental financing can be a solution.
Bottom Line
Dental work is costly, but depending on the type of work involved, it’s essential to overall health. Given the high cost, dental financing may be required for many Canadians who may not have the financial means to cover these expenses. Luckily, there are several types of dental financing available to suit various financial profiles, so there’s no need to let these costs get in the way of maintaining good oral health.
Dental Loan FAQs
Do dentists offer financing in Canada?
Can I finance my dental costs with a loan if I have bad credit?
Can I get a dental loan without interest?
Do dental loans cover all dental procedures?
References:
1Archer Dental. ODA Fee Guide, Recommended Prices for Dental Service. ArcherDental.ca
2The State of Oral Health in Canada. Dental health services in Canada. CDA-ADC.ca
3The State of Oral Health in Canada. A snapshot of oral health in Canada. CDA-ADC.ca
