Pet Health Insurance is Hot!
A “pet inclusive workplace” is often stereotyped as one that allows dogs, but a recent survey found that employees would rather have pet insurance:
40%: Pet insurance
29%: Paid time off to care for a pet
27%: A pet-friendly office
14%: Leave to care for a new pet, sometimes called “paw-ternity.
“There was a lot we heard in our focus groups around team members who were not just taking care of children…It was amazing how many people talked about pet care.”
Amanta Mazumdar, VP, Benefits, Hilton
“It certainly has now become mainstream and come in vogue…employers are really finding that it is a benefit that can appeal to a majority of their employee populations, regardless of their generation.”
Brian Russell, Voluntary Benefits Practice Leader, Mercer
Selecting a pet insurance benefit
Smaller employers may offer a simple plan that allows employees to sign up for a direct-billed plan at a company discount and that can be added or dropped at any time.
Larger employers may qualify for plans the also feature guaranteed issue and payment via employee payroll deduction with an employer contribution*.
Your employees will appreciate if you carefully select a plan with these questions in mind:
What is the reimbursement percentage for covered services and what are the deductibles?
Are actual veterinary costs reimbursed, or doe the policy pay based on a set schedule of usual and customary fees?
What are the plan’s annual and lifetime benefit limits?
Does the coverage accept pets with pre-existing conditions? Like people, pets are living longer and better with existing conditions.
How long after enrollment must the employee wait before benefits begin?
Does coverage apply to hereditary conditions, which some beloved breeds are predisposed to.
Does the coverage apply to all pets or just cats & dogs?
Will the policy premiums necessarily increase after a claim?
*Pet insurance policies generally fall under property & casualty coverage and therefore cannot be paid for with pre-tax payroll deductions.
Endorsed/Sponsored
Pet Inclusive Novato is funded by a grant from the Michelson Found Animals Foundation
and supported by the following organizations.
