Why we don’t recommend you get early release of your Super for dental work
We know times have been tough since the Coronavirus pandemic hit. Things look set to be difficult and challenging for many people in our community for a long time yet.
The Government has since changed its rulings to allow those affected to apply for early release of their Superannuation if they have been financially affected. But did you know that you can also apply for compassionate release of Superannuation for medical (including dental) treatment? More information about this here.
Many dental practices have been advertising this information as it may not be known to the general public. For those that have always said, ‘If I ever won Lotto I would spend the money to get my teeth fixed’, or ‘If I ever had the money, I’d get my teeth fixed’. For some, this might be an easy fix to their solutions, so for some people, this may be the right decision for them.
But here’s why we don’t necessarily agree:
- We don’t feel it’s our rightful place to assist patients in making financial decisions. We don’t know their personal situation, and we also aren’t qualified in the financial sector. The last thing we would want is someone regretting their decision, and struggling when they need their Superannuation in retirement.
- This might seem like an ‘easy fix’, but what about the ongoing cost of routine dental care on a regular basis? Getting your teeth ‘fixed up properly’ doesn’t mean you won’t have any future dental expenses. Our concern is whether the patient can pay for the maintenance or their teeth, and keeping them healthy in the long term. Routine care is extremely important to keeping the mouth healthy and treatments performed in good condition. You can’t have one without the other.
We would much prefer to discuss a patient’s individual dental concerns holistically, and come up with a plan that will fit their financial situation. We can help to prioritise treatment in order of priority so that small problems do not end up becoming large and expensive problems to fix.
If you need to talk to us about your concerns, please call us on 6143 5655. You can also email our friendly team at info@dentalquarters.com.au.
