Financing Dental Treatment in Canada
Dental treatment costs in Canada can be significant, particularly for major procedures such as implants, full-mouth restorations, orthodontics and cosmetic dentistry. Many Canadians face a gap between what their insurance covers and what their treatment costs — and dental loans and patient financing programmes exist to bridge this gap.
The Canadian dental financing market has grown significantly in recent years, with dedicated medical financing companies, bank products and practice-based payment plans all competing to serve patients who need to spread the cost of treatment over time.
Financing OptionsDental Financing Options Available in Canada
- Medicard: Canada’s longest-established dedicated healthcare financing company. Offers interest-free periods and extended payment terms for dental treatment. Available at thousands of Canadian dental practices. Applications processed quickly, often same-day approval.
- LendCare: Canadian consumer financing company offering point-of-sale dental financing. Partners with dental practices to offer patients financing at the time of treatment planning. Competitive rates and flexible terms.
- Fairstone Financial: Canadian consumer lender offering personal loans for dental and medical expenses. Available for patients who may not qualify for traditional bank financing. Higher interest rates than bank products but accessible with lower credit scores.
- TD Health Care Financing: TD Bank offers dedicated healthcare financing products to Canadian patients through partner dental practices.
- In-House Practice Payment Plans: Many Canadian dental practices offer their own payment plans, particularly for established patients. Terms vary but 0% interest over 6–12 months is common for qualified patients.
- Personal Lines of Credit (LOC): Available from all major Canadian banks at competitive variable rates. Flexible drawdown and repayment. Best for patients with good credit history.
- Home Equity Line of Credit (HELOC): For homeowners, HELOCs offer the lowest interest rates for dental financing, typically prime + 0.5%. No fixed repayment schedule provides maximum flexibility.
Interest-Free Financing: Many Canadian dental practices offer 0% interest financing for periods of 6–18 months through Medicard or LendCare. This is typically the best value option for patients who can repay within the promotional period. Always confirm the rate that applies after the promotional period ends.
Dental Financing Options Compared
| Option | Typical Rate | Best For |
|---|---|---|
| HELOC (bank) | Prime + 0.5% | Homeowners, large amounts |
| Personal LOC (bank) | Prime + 2–4% | Good credit, flexible amounts |
| Medicard (0% promo) | 0% for 6–18 months | Short-term, quick payoff |
| LendCare | 9.9–29.9% | Quick approval, various credit |
| Fairstone | 19.99–39.99% | Lower credit scores |
| In-house practice plan | 0% (short term) | Established patients, small amounts |
| Health Spending Account | Tax-free | Employer benefit holders |
Tax Advantages for Dental Expenses in Canada
Canadian taxpayers can claim eligible dental expenses as Medical Expense Tax Credits (METC) on their federal and provincial income tax returns. The federal METC allows you to claim eligible dental expenses exceeding 3% of your net income (or $2,635 CAD — whichever is less) as a non-refundable tax credit.
Employer Health Spending Accounts (HSAs) allow employees to pay for dental treatment using pre-tax dollars — effectively providing a discount equal to their marginal tax rate on all dental expenses.