Health Care Reform for the Fur Persons

By Jeff Bartz of DC Ranch Animal Hospital

Today, pets have become more a part of the family than ever before. When a family pet becomes sick or injured, most owners are willing to spend whatever is necessary to make them well. But the associated medical costs that come with high quality and comprehensive veterinary care can cause an unexpected financial strain for many owners—especially in these difficult economic times. As a result, pet insurance has increased in popularity as a way to manage costs while helping to ensure peace of mind that your furry loved one will receive the medical care he or she needs.

What is pet insurance and how does it work?

Pet health insurance policies are similar to human insurance policies in many ways. These policies can cover accidents and illnesses as well as routine wellness care for both dogs and cats. They include annual premiums, deductibles, copayments, waiting periods, a selection of coverage options, and caps on coverage. When your pet requires medical care, you visit your current veterinarian and pay for the services. Unlike most human insurance plans, however, you are required to file a claim form directly with the insurance company for reimbursement.

Comparing pet insurance options

There are over a dozen pet insurance companies in the United States, so it is important to compare the coverage and costs of several before making a decision. Your veterinarian can be the best resource to start with. Although veterinarians do not sell pet insurance, they do receive information from insurance companies about their plans—often in the form of brochures—that they will be happy to share with you. Most importantly, your veterinarian’s front office staff receives regular feedback from existing owners with pet insurance on claim coverage, reimbursement times, and general customer services from various insurance companies that can be valuable information for you to have.

Coverage options and costs

Pet health insurance is available in a wide variety of options to suit your budget—from low-cost basic plans covering accidents only to all-inclusive VIP plans that can cover specialist visits and other more expensive procedures. Generally speaking, the more you pay in a monthly premium, the more coverage your pet will receive. Depending on the coverage you choose and the number of pets insured, prices can range from as low as $10 to as high as $80 or more per month; but, as with any type of insurance, you get what you pay for.

Understand the policy exclusions

It is rare to find a pet insurance policy that does not exclude certain medical treatments, so make certain to understand what is not covered prior to purchasing a policy. The most common exclusions are for preexisting conditions and hereditary or genetic disorders, although each company and its various plan options can vary widely in what treatments are not covered. Read the fine print carefully.

Consider pet insurance for your pet. With quality coverage, you can focus on the health of your family pet with the knowledge that there is financial help to cover unexpected medical costs. Your pet will thank you.