Cosmetic Dentistry: Can You Use Superannuation to Fund It?

cosmetic dentistry

Going for cosmetic dentistry can be costly. This is especially true if the procedure involves dental surgery.

But do you know that you may use superannuation to cover the costs?

It is possible to apply for an early compassionate release of superannuation to cater to dental expenses. Like many dental experts, this new cosmetic dentist in Melbourne is already promoting the option.

Depending on your superannuation fund, you can access a lump sum to cover the dental treatment costs, not just for yourself but also for all your dependents.

You don’t have to wait until you reach 65 years and older. You can access the funds now or today with the help of a good team.

How an ERS (Early Release of Superannuation) Works

The ERS funds are designed to enable you to get a dental implant, which is paid for by superannuation funds that already belong to you.

But know that you should meet certain criteria so as to apply for an early release of superannuation funds.

Plus, this option needs to be your last resort. And take the option after exhausting other options. So be sure to first Google a financial consultant for advice before going ahead with your plan of applying for this fund.

What You Can Use the Funds For

Perhaps you want to have a missing tooth. Or maybe you want to update your denture using dental implants.

Like other patients, you strive to address such concerns by using long-lasting and effective dental implants.

By replacing your missing tooth, you will be able to create a natural-looking and healthy smile with the help of ERS funds.

Apart from upgrading your denture with implants, you can also use the fund for root canal therapy.

Criteria to Meet

There are criteria you must meet when applying for an ERS program. Most dental clinics strictly work within guidelines of what is expected.

In addition, those clinics don’t take part in any ERS program for cosmetic dental treatments, including teeth whitening and dental veneers.

Instead, they only take part in the early release of a superannuation fund for treatments, which can improve the functionality and health of a patient’s teeth. These may include the following:

  • Dental crowns
  • Orthodontics and braces
  • Dental implants
  • General dentistry
  • Root canal therapy
  • Dentures
  • Maxillofacial and oral surgery

Accessing ERS for Your Dental Treatment

Most patients don’t know that their payment options for dental treatment may include ERS. In some cases, patients might require funding so as to cover the costs of dental work, including crowns. In some situations, the government’s ERS programs are designed to give access to funds on compassionate grounds.

Using part of the fund to cater for the dental costs becomes available when you don’t have other payment options to cover the treatment. Plus, you will need to meet the criteria mentioned earlier to be eligible.

Final Say!

Applying for ERS fund might be the only option to afford dental procedures like implants and oral surgery. So this isn’t a decision to take lightly. And you should consider it when you’ve run out of other financial options. That is because ERS funds are intended to help with living expenses when you retire.