Did You Know: Dental Implants Can Be Tax Deductible

Price can be a significant factor when considering a medical or dental procedure such as dental implants. The benefits can be enticing, but not if they throw a monkey wrench into your family’s budget. However, a unique tax benefit can make dental implants more affordable. Did you know that dental implants can be tax deductible? It’s true! These potential savings, combined with our cost-effective mini dental implants, help make a new smile more affordable to a wider range of patients.

How Can Dental Implants Be Tax Deductible?

The IRS allows dental implants to be tax deductible under Publication 502, Medical and Dental Expenses. According to the IRS, payments for “false teeth” count as deductible medical expenses because the treatment impacts a “structure or function of the body.”

However, you cannot count any portion paid for by insurance and can only deduct expenses that exceed 7.5% of your adjusted gross income, or AGI. This benefit is only available if you itemize deductions on your tax returns instead of claiming the standard deduction. If you’re unsure how to itemize your deductions, we advise seeking the help of a certified tax professional.

How Does This Tax Benefit Work?

Consider this scenario: let’s say a patient’s AGI is $100,000. This patient cannot claim the first $7,500 (7.5% of AGI) of their qualifying medical and dental expenses, but they can deduct anything beyond that. Suppose this patient’s total expense was $16,000. In this case, the amount they could claim as a tax deduction would be $16,000 – $7,500 = $8,500. If any part of the cost was covered by insurance, that value cannot be deducted.

This option can be valuable for those without dental insurance or individuals whose policy offers only partial coverage. Deducting dental implant expenses can be tricky, but the potential savings make it worth exploring.

What If I Have an HSA?

An HSA, or Health Savings Account, is another excellent way to save money on medical or dental expenses. If you have an HSA through your employer, you designate part of your pre-tax salary to be put in the account, which can then be used for approved dental and medical expenses. It’s a great way to achieve more “bang for your buck” when using your money for qualifying treatments and products. However, payments made with an HSA are not eligible for an additional deduction, as you’ve already received the benefit of putting that money in the HSA fund without paying tax.

Determining Treatment Costs

If you are eligible to deduct some of your dental implant expenses as a tax break, you may still be wondering about the cost of dental implants. At Aspire Dental Group, we specialize in placing a smaller, more modern implant called a mini dental implant. Mini implants are minimally invasive, enabling a more efficient procedure and smoother healing process. This means less time and fewer visits to the dental office, saving you money. Additionally, their smaller size reduces material costs, making mini implants roughly half as expensive as traditional dental implants.

When it’s time to discuss payment, our staff will help you understand what is or isn’t covered by your dental insurance. We also partner with several financing companies that offer affordable monthly payment plans, making mini implants accessible to a broader range of patients.

Your Dental Implants May Be Tax Deductible!

We often tout the many benefits of mini dental implants for your oral health and overall well-being. Now, thanks to a potential tax deduction, those benefits may be more affordable than ever. If you want to learn more about dental implants and what they can offer or explore your financial options further, please call Aspire Dental Group. We invite you to schedule a free implant consultation and experience the power of reliable tooth replacement with dental implants.