When clients come in with new pets, I get questions about all the usual topics — dietary recommendations, socialization, potty training, but more and more I am also asked about pet insurance. Most often the question is: Do I recommend it? My answer is always the same, an emphatic “yes!”
We are in the midst of a very exciting time for veterinary medicine, with new and advanced treatments and specialty practices popping up left and right. The utilization of technologies that are newer to veterinary medicine such as MRI’s, ultrasounds, and laparoscopic procedures has given us the ability to diagnose sick animals faster and give them treatment sooner. However, with these advances in medicine, we are also seeing increases in costs. I know I speak for many of my veterinary colleagues when I say that I enjoy getting to know my patients, and I try to alleviate financial stress whenever I can. Unfortunately, when our patients end up at emergency or specialty practices, our hands are tied; that’s when pet insurance really comes in handy. As a veterinarian, I want pet owners to be able to explore every option for their furry family member, regardless of cost. It is always my hope that each pet will live a long and healthy life without any serious illnesses or accidents, but I have learned to expect the unexpected, just ask Mason’s mom, Jennifer.
Mason is a beautiful Bernese Mountain Dog who was staying at our boarding facility, Dr. Dave’s Daycare, Boarding, and Grooming, while his mom was out of the country. Everything seemed to be going smoothly until the night staff at Dr. Dave’s noticed that Mason was out of sorts; he began vomiting, experienced diarrhea, and then he refused to eat. He was rushed over to Reed Animal Hospital and we were able to triage and stabilize him to be sent to a local emergency clinic. While there it was discovered that Mason had an obstruction, his human sister’s stuffed toy, that would eventually require surgery.
Fortunately, Jennifer had Trupanion pet insurance and was able to make all of his medical decisions without finances being her determining factor. Mason’s emergency medical expenses ended up totaling $11,700, of which Trupanion paid 90%. As Jennifer said, “You can’t put a price on a loved one. I would have authorized anything to see Mason healthy again.”
Despite stories like this, I often run into people who have very valid questions regarding pet insurance. They ask, “what if nothing ever happens to my dog? Wouldn’t that be a waste of my money?” Indeed, if your pet is fortunate enough to avoid any health complications throughout its life, pet insurance will seem like a waste of money. Unfortunately, hoping your pet will miraculously avoid any health issues is an awfully big risk to take financially. According to the website PolicyGenius: a dog ate a sock which required surgery for removal, the vet bill totaled $4,658.80. That would be quite an expensive sock if the pet owner did not have insurance. My policy has always been: better to be safe than sorry, and the decision to invest in pet insurance is no different. It can help protect your budget in the event of unexpected veterinary costs, and give you the peace of mind to be able to make the best decisions for your loved one without finances being a determining factor.
As pet insurance becomes increasingly popular among pet owners, there is an ever-growing number of pet insurance providers to choose from. The most popular provider that my hospital works with is Trupanion. We are currently testing Trupanion Express, which has certainly put Trupanion into the upper echelon of pet insurance companies. Trupanion Express allows the company to pay vet practices directly for eligible treatments, rather than having the client pay the entire bill upfront and then wait to be reimbursed later. The process is very easy: the vet creates an invoice and within minutes it is approved or disapproved, once approved the only payment required by the client is a copayment. When clients sign up for Trupanion via the 30 day certificate in office, their pets are eligible for immediate coverage, but if they wait and sign up online there is a 5 day waiting period for injuries and a 30 day waiting period for illnesses.
Another provider that consistently ranks highly on customer satisfaction is Healthy Paws, which provides a free mobile app to make submitting a claim even easier. After paying for treatment you can take a picture of your invoice via the mobile app, and the claim will be processed within 7 to 10 business days, as simple as that! According to their website, repeat claims tend to be processed even faster, typically 72 hours. Healthy Paws requires a 15 day waiting period after the policy becomes effective and then they will cover any new illness, injury, or accident, including hereditary and congenital conditions. Unfortunately, like many other pet insurance providers, coverage does not include pre-existing conditions, exam fees, spay/neuter procedures, or preventative care.
Pet’s Best Pet Insurance was founded by a veterinarian, Dr. Jack Stephens, who is also known as the “father” of the North American pet insurance industry. After a particularly saddening experience, he was determined to help ensure that medical decisions would not hinge on finances. With Pet’s Best, you are able to choose from four levels of annual coverage to best fit your pet’s needs. There is only a three day waiting period for accidents and a fourteen day waiting period for illnesses. I should mention that there are certain medical conditions that require a 12-month waiting period before coverage begins, but this period can be waived with a clean bill of health from a veterinarian.
Each of these providers is working towards a singular goal: to cover your pet financially should an unexpected medical situation arise. Nonetheless, each individual provider has specific coverage policies, terms, and criteria. I highly recommend doing research and asking questions specific to your pet before making a decision. If you have an older pet it is important to understand whether pre-existing conditions will be covered. You should consider your dog’s breed and any predilection to certain illnesses, such as cancer or a chronic illness, and find out if treatment is covered in the plan. Remember, there are no dumb questions when it comes to choosing a pet insurance provider or plan for your loved one. It is important to make sure that the plan you choose will protect both you and your pet should the worst case scenario arise.
Dr. David Reed received his veterinary degree from The University of Illinois in 1972 and currently owns and practices small animal medicine at Reed Animal Hospital in Campbell, California. Dr. Reed’s fur family includes two English Bulldogs, Layla and Fenway, and a feisty French Bulldog, Lincoln. Reach Reed Animal Hospital at (408) 369-1788 or visit reedanimalhospital.com.
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