Dental News
The financial regulation reform bill proposed by the Obama administration includes some hurtful provisions for dental providers and their patients according to Senator Jim DeMint (R-SC), an outspoken opponent of the President.
According to Senator DeMint, the current bill will force dental providers that allow customers to make payments in more than four installments or who charge any type of late fees to be treated the same terms as AIG and Goldman Sachs. This will have the greatest impact on those receiving expensive dental procedures such as braces, dentures and other types of cosmetic-related dentistry.
In addition, the bill before Congress will creates a new Consumer Financial Protection Agency, housed in the Federal Reserve, which will regulate these types of transactions and could subject dental providers to further regulatory burden.
Senator DeMint contends that the financial regulation bill was supposed to crack down on Wall Street abuses but will instead hurt Main Street health care providers as well as those Americans who struggle to find ways to pay for expensive dental work.
According to BracesInfo.com, the average price for orthodontic braces in the United States is $5,400. Many if not most patients receiving braces usually pay for them in installments, thereby allowing them to avoid putting the braces on their credit card with their double-digit interest rates.
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