Veneers are often considered a cosmetic dental procedure as they often are only used to fix discolouration, chips, cracks, and crooked teeth. If you've had veneers on your wishlist for a while now and are tempted to treat yourself, wait for just a few more minutes and take a look into whether you can use your super for veneers.
Superannuation is money that's been put aside by your employer to support your financial needs in retirement. However, you can sometimes access it early in limited circumstances, such as to pay certain expenses on compassionate grounds, along with incapacity, severe financial hardship, or terminal illness.
However, your super can now also be used to pay for your porcelain veneers or crowns, so if you've been putting it off for a while, we can't see a better time to make the jump!
Yes, most people can now use their super to pay for dental work like veneers. However, it's worth mentioning that this might not be as simple as you were hoping, as you might need to hire an expert to help navigate the complex application process you'll need to undergo to get your money. These experts will charge you a flat rate for their services, so make sure you choose someone who is trusted with plenty of reviews from other people who have used them for the same thing.
There are many reasons why you might want to use your super to pay for your veneers, including the fact that you're using your own money. Your super belongs to you, even if the money is currently tied up in the government scheme. Using your own super for dental work means there are no repayments to worry about, no interest, and you don't have to burden yourself with debt, which can negatively affect your credit checks.
In Australia, anyone can apply for the government’s Early Release of Superannuation program, which lets you access your super early necessary services like dental work. However, this isn’t always as easy as it seems. You can only access your super early and the specific conditions, such as compassionate grounds for unpaid expenses that you have no way to cover.
The Australian Taxation Office (ATO) defines compassionate grounds as requiring early super for:
Medical care, bills, dental costs, and medical transportation
Adjustments to your home or car to cater for a severe disability
Mortgage or council payments to prevent the loss of a home
Palliative care
Costs linked with the funeral of a dependent
So, it looks like you will be able to use your super for veneers if you don’t have any other way to pay for them. However, you’ll need to talk to a qualified dental practitioner and a dental specialist or GP to prove your eligibility before accessing your super. They should be able to help you get the correct documentation for early release of the funds.
No one said this was going to be an easy process, so here is an example of the documentation you may need:
An itemised quote or unpaid invoice for your veneers
Medical report stating the dental issues that are causing you pain, and why you need veneers to fix them
A copy of your treatment plan, including all stages of it.
These documents will need to be signed and completed within six months before your dental treatment. Everything you need to include, along with the eligibility criteria, will be on your application for early super funds. Without all of these documents, your application might be delayed or rejected.
The ATO Has a number of criteria that you need to meet to be eligible for compassionate release of your super, which are:
You're an Australian or New Zealand citizen with permanent residency
You meet the requirements for the Medical (treatment or transport) compassionate ground, which in this case would be you need the veneers for a life-threatening condition, relief from pain, or to address mental distress
You haven’t already paid the expense
You can’t afford the total expense without accessing your super, and you can’t use a loan, savings, or by selling your investments
Your super should cover any veneers you want to choose, so the world is your oyster! Here are the two most common types and why you might go for them:
Porcelain veneers are often considered traditional veneers, and they're the most popular choice for many people. They're made from porcelain caps that we bond over your natural teeth, replacing them with a pristine alternative to perfect your smile. These veneers are perfect for fixing almost any issue you have with your teeth, like discolouration, crooked teeth, and gaps, so they're a great versatile option for most people.
The process of installing porcelain veneers is where we lose some people, as we'll need to file down some of the enamel on your natural teeth so that the veneers can sit pretty without looking too bulky or unnatural. Porcelain is the more expensive type of veneer to choose from, but they also last longer, so many consider the extra investment worth it!
Learn more about porcelain veneer treatment options to make sure it's the right treatment for you.
Composite veneers are another popular choice for people looking to upgrade this smile, and they are often cheaper than porcelain. They use a thin layer of resin directly placed onto the tooth, which is then sculpted by your dentist into the perfect shape and cured to create a super strong veneer. Composite veneers don’t require any of your natural enamel to be removed, making them a good option for people who aren’t 100% sure if they’re going to keep them on for the rest of their lives.
Composite veneers can help perfect a number of issues with your teeth, such as small gaps, discolouration, and mild chips. However, they might not be the best for bigger issues. This type of veneer often between five and seven years, but we’ve seen patients keep them on for longer - it all depends on how you care for them.
Get more information on composite veneer treatment options.
The price you can expect to pay for your veneers all depends on the dentist you go to, what type of veneer you want, and how many teeth need fixing. You’ll often pay per tooth, with composite veneers ranging from between $300 and $600. Porcelain veneers are more expensive, ranging from around $700 all the way up to $2000 per tooth. Veneers are an investment, but many people consider them worthwhile when reminded how long they last without needing to be replaced.
As long as you can prove that you don’t have any other way to pay for your veneers, and that you’re getting them for a medical reason like acute or chronic pain, then you should be able to get compassionate early release of your super to cover all costs.
You will need to get a breakdown of your treatment plan, including anything you need to pay for like temporary veneers, teeth impressions, and regular checkups, to make sure the ATO will release enough of your funds to cover everything. If your veneers need replacing after 10 years or so and you can’t pay for them another way, you will need to reapply for compassionate early release of the funds to replace them.
There’s not much you can do if the ATO says you’re not eligible for compassionate early super release, so you’ll have to find another way to pay for your veneers.
Don’t worry, though, there are still a few alternative payment options that you can explore, including:
Health insurance: Some private health insurance covers dental treatments, which may extend to veneers if the reason you’re getting them includes acute or chronic pain
Payment plans: Many dentists who offer veneers also offer payment plans so you don’t have to worry about paying upfront all at once
Loans and credit cards: While it’s not the preferred method for many people, taking a loan or credit card out to pay for your veneers might be the only way for you to get them on finance
Veneers can often be paid for with your super, but there are quite a few hoops you have to jump through before getting the money. Why not get in touch with us today and speak with a cosmetic dentist to discuss your dental veneer treatment and book a free consultation? We’ll be able to talk you through your payment options, and even give you advice if going through your super is what you want to do!
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