The Coverage for Pet Health Insurance
28 May 2012
A decrease in students applying to and getting accepted into veterinary colleges, expensive state-of-the-art equipment, liability insurance, expensive prescription drugs, and the cost of maintaining a veterinary clinic/office has inflated pet owners veterinary bills to never before imagined prices. When the beloved family pet suddenly falls ill or is injured in a freak accident many pet owners find themselves forced to put the family pet to sleep in a decision called economic euthanasia. Many family pets could have been saved from economic euthanasia if their owners had only thought to purchase pet health insurance coverage.
The cost of veterinary expenses for the average dog owner is approximately two hundred and eleven dollars per year. The average dog owner will visit the local veterinary office about 2.8 times a year. The typical reasons for dog owners to take the family dog to the local veterinarian is her basic routine health care such as physicals, vaccines, dental work, neutering or spaying, nail trimming, and heartworm testing.
The typical cat owner will visit the veterinary and 2.3 times per year to take care of declawing, physicals, vaccines, dental work, neutering or spaying, and ear mites. D. average yearly cost for these 2.3 visits to the local veterinarian each year it is approximately one hundred and seventy-nine dollars. These statistics are based on a 2005 survey done by the American Pet Product Manufacturers Association. Pet health insurance coverage and is insurance coverage that helps pay veterinary costs if your family pet becomes ill or is injured. Depending upon the policy you purchase your family may be reimbursed if your family pet is stolen, lost, or dies. Pet owners purchased pet health insurance coverage for a few various reasons. The main reason people purchase pet health insurance coverage is to pay for unanticipated and extremely expensive veterinary bills. In many cases the purchase of pet health insurance coverage can be the difference between a recovery and economic euthanasia for many family pets.
Pet health insurance coverage is not a brand new concept. Horse owners have been ensuring their valuable show and pleasure mounts against major medical bills and the fatality/mortality for years. In Europe cut health-care coverage has been available since the 1940s and approximately 25% of all British pet owners care in some type of pet health insurance coverage. It is estimated that nearly 50% called loved household family pets have some type of pet health insurance coverage. All developed countries offer some type of pet health insurance coverage.
Many dog owners in the United Kingdom also carry a type of insurance called Third Party Liability insurance. This insurance became popular after the 1971 animals act came into being; this act states that if a dog is directly responsible for an accident, like a car crash, the dog’s owner will be held accountable.
Pet health insurance coverage does not typically cover potential hereditary conditions, pre-existing conditions, and normally include a cap on surgeries and other miscellaneous medical expenses. Some pet insurance companies will also cover the cost boarding your pet at a local kennel or veterinary hospital.
Jay Schindler
7 Responses
2012 May 28
Is it worthwhile for both me and spouse to purchase family coverage health insurance?
I currently have family coverage health insurance through my employer that takes care of me, my spouse, and my infant son. It is about $160/month and has excellent benefits. Now my husband is eligible to buy health insurance through his employer. He could either get single coverage for $25/week for a plan with a $250 deductible, or $21/week for a plan with a $750 deductible. Or he could get family coverage at either $61/week for the lower deductible or $50/week for the higher deductible. The office visit copay is slightly higher with the higher deductible plan. Or he can decline coverage altogether. There is NO WAY I will be canceling our family coverage through my employer. So, is it worth for my spouse to buy dual coverage through his employer? If so, what considerations should we make when deciding to purchase either single or family, and deciding whether to do the lower or higher deductible?
2012 May 28
Don’t both buy insurance – the insurance companies get together and to a "coordination of benefits", so you don’t end up having one company your your deductible.
Remember, even if he turns the insurance down, if something happens to your insurance, that is a "change of family status" and your husband can reapply for the health insurance, even when it’s not open enrollment.
I would just keep yours and save the money for something else.
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2012 May 28
The decision should not be made so much on the cost but the quality of coverage and the stability of your employment. If something happens to either of your jobs, it will greatly affect switching companies due to "pre existing conditions." Unless you can forecast the future your job in deciding is way more complicated than just deciding by the cost or co-pays.
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2012 May 28
The only way it would be worthwhile was if your plan didn’t cover something that his plan did – like childhood vaccines. (There are some plans that just don’t cover preventative visits, which I think is foolish, since an ounce of prevention… blah blah blah.) Then it would be worth it since your plan would deny the kids’ well visits, then you submit the denial to his plan and they’d pay it.
Otherwise, having two plans is more hassle than it’s worth.
BUT, if he takes that $25-$50 a week and socks it into a HSA (health savings account) or something like that, then you have it for a "rainy day" – most HSAs can be used for insurance copays, deductibles, and some for over the counter medications.
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I’m a medical biller
2012 May 28
The only reason to take his coverage would be is if his coverage offered items that yours did not. Make sure they are comparable, however, because each plan will look at the rules they have in place to determine who will be primary on your child. Some plans use a birthday rule (if your birthday is in April and your husband’s in June, then you would be the primary on your child); there are a variety of other rules.
You have to look at the benefits, compare what is covered, and then decide if it’s worth what you’ll pay, compared to what the plan will pay. If you decide not to take his coverage, then put the money into a savings account, or, better yet, have him put it into a pre-tax account like a 401k. That way you get the tax benefit without having the expense.
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2012 May 28
Probably not worth it, for a couple reasons . . .
1. once he bought the coverage, HIS plan would be PRIMARY for him.
2. Having two policies does NOT necessarily get you out of all the copays and deductibles.
3. Having two policies DOES cause confusion from the claims end, about which insurance company pays what. You SURE don’t want to be fighting with two insurance companies, because each says the other should be paying.
I think it would be more hassle than help.
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agent, 21+ years
2012 May 28
Personally, I don’t believe you need BOTH insurance coverages. You said yourself, your plan has excellent benefits. And if you’re only paying $160 a month, that’s an excellent rate. Your husband should decline coverage with his employer. Keep in mind, should something ever happened with your job or your coverage, you can always pick up insurance through your husband’s job at that time.
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