It is very uncommon for insurance companies to cover sedation dentistry. However, in certain select cases, insurance can cover the additional cost (if for example, a treatment that would otherwise require multiple visits is conducted during one visit). Intravenous sedation is usually not covered under any of the common circumstances.
The cost of IV sedation is usually a separate fee added to the cost of the dental procedure. The hourly rate can range from $250 to $1000 per hour depending on duration, past medical history, and the experience of the anesthesiologist.