In the previous installment of the Pet Insurance: The New Work Perk Part 1 series, we discussed all the reasons why you should either offer pet insurance to your employees or ask for pet insurance from your employer. For this installment of the series, we'll be discussing how to find a pet insurance plan, what is covered in conventional pet insurance plans, and how to make your pet insurance plan affordable.
Pet Insurance Recap
- Over 5,000 companies offer pet insurance
- Bringing your pets to the workplace has proven benefits for the company and employee alike
- Americans are projected to spend around 69.36 million dollars on their pets in 2021
- Only 1-2% of Americans currently have pet insurance
Pet Insurance vs. Human Insurance
When thinking about pet insurance you've probably found yourself wondering how similar pet insurance is to your human insurance. Well, pet insurance, like human health insurance, can help you pay for your pet's veterinarian or hospitalization bills. But unlike human health insurance, pet insurance allows owners to use any licensed vet within the US. The procedure for submitting a claim is the same as human insurance; after you and your pet leave the vet, you simply file a claim, after that you will receive a reimbursement that is in line with your pet's insurance terms and conditions.
What Does Pet Insurance Cover?
So what exactly does pet insurance cover? Well, quite a few things. It should be noted that, just like human insurance, each pet insurance plan is different and to some extent will cover different things. However, there are a few baseline conditions, treatments, and costs that most pet insurance plans will cover.
Some plans, such as IHC plans, can cover up to 80% of unexpected veterinary costs once you have met your deductible. Pet insurance deductibles work the same as human insurance deductibles. We all know that accidents happen, that's why most pet insurance plans cover more than just chronic illnesses.
Accidents can happen to beginner pet parents and experienced pet owners all the same. Whether your dog is young or old, there's still the chance that something out of the norm may happen and affect your pet in a negative way. Common accidents covered by pet insurance include dog bites, broken and fractured bones, foreign body ingestion, or being hit by a car or other motor vehicle.
Pets can get sick suddenly just like humans, in fact, due to their physical makeup some dogs are more prone to certain illnesses than others. It can be hard to spot the symptoms of many common illnesses in dogs, meaning that once their condition is noticeable, it has often progressed to a much more advanced state. Common illnesses covered by pet insurance include ear infections, allergies, cancer, and pancreatitis.
Just like humans, dogs need check-ups every now and again to make sure that they are healthy and happy. But unlike humans, pets need routine medications and care to keep them from picking up things they encounter outdoors. Everyday routine care medications and procedures covered by pet insurance include vaccinations, flea and tick prevention, dental cleanings, and spay and neuter procedures.
You may have inherited your mom's eyes or you dad's nose, but your dog may have inherited his parent's congenital disease as well as their cute ears. Just like humans, dogs can pass harmful conditions onto their offspring before birth. These conditions can either be present and birth or can develop as they age. Common inherited conditions covered by pet insurance include hip and elbow dysplasia, arthritis, and diabetes.
Everything You Need to Know About Buying Pet Insurance
You may be surprised to hear that some pet insurance plans can start at as little as $10 per month. Depending on your needs or wants, pet insurance can be custom tailored just like human insurance. Add inherited coverage, eye exams, and more to your policy easily. Pay for what you need and not for what you don't, this way you can keep your costs manageable and pets healthy.
Does your work currently offer pet insurance, or are you an employer who is thinking about offer pet insurance to your employees? Leave us a comment below about pet insurance in the workplace; we'd love to hear from you. If you have questions on pet insurance of want to find a plan a member of our team would be more than happy to assist you.