Pet insurance, a good investment

Eliminating financial fears when caring for your pet

By Judy Keenan

What percentile of dog and cat owners on Cape Cod has pet insurance?  “Not enough have it.” Says Meg Whynot-Young, the Hospital Project Coordinator at the Cape Animal Referral And Emergency Center in Dennis.  “I would guess 15% maybe.  I would like to see every single one have some sort of coverage.”  

“People plan for shots and spays but not for their pet to be hit by a car or contract Lyme Disease. Pet Insurance relaxes the financial concerns.” - Meg Whynot-Young

Putting a stop to "economic euthanasia"

Pet insurance originated in 1982 with Veterinary Pet Insurance (VPI ) to help end "economic euthanasia" of pets and make the miracles of veterinary medicine affordable for all pet owners. Since 1982 the miracles of modern medicine available to humans have trickled down to pets and more cures and solutions for previously fatal or debilitating illnesses or traumas are available to pet owners.  These treatments are often costly and having pet insurance can ease the financial burden and possibly save a pet. The belief behind pet insurance is that pet owners don’t want finances to get in the way of giving their pets the care they need. 

The idea is catching on

As the owner of two Great Danes, Gracie and Sasha, Linda Haller of Sandwich knows they are genetically prone to cancer and bloat.  Because they are large dogs any catastrophic care they receive may cost fifteen times more than a small breed.  “They need more blood, more medicine and they have shorter life spans.  I had a Great Dane in the past that I spent thousands of dollars on for bloat surgery,” states Linda who researched extensively online for her pet insurance.  She chose Pet Plan in part because they will pay for all medical expenses in an emergency except for the deductible. “One has to be very careful about the plan they are purchasing,” she advises.    Linda thinks that pet insurance is “catching on slowly but it is catching on because people pay a lot of attention to their pets.” 

The benefits

Concurring on these thoughts is Jan Ols of Embrace Pet Insurance.  Jan owns multiple dogs and cats and says, “I’ve fortunately never been in a situation where I’ve had to euthanize over cost of care but I have been in costly situations in the past where I could have used pet insurance.” 

The following story regarding having pet insurance is from the Embrace web site:

Nala, after much needed elbow surgery. Photo courtesy of Embrace.

In August 2009, Kim and her husband noticed Nala, their young German Shepard, limping, and she would cry when she applied any weight to her front right leg. At Countryside Veterinary Hospital in Chelmsford, Mass the vet discovered that Nala had an ununited anconeal process, a condition prevalent in German Shepherds. The only treatment for this form of elbow dysplasia is a costly surgery. Kim submitted a pre-certification to Embrace, and within a week Nala was in surgery and Kim knew exactly how much of the vet bill would be covered by Embrace and how much she would be responsible for. Nala's right elbow healed nicely and Nala has now had the same surgery on her left elbow.

Nala's elbow dysplasia claim:

• $1,733.81 : actual vet bill
• $1,667.21 : covered charges
•   -$200.00 : annual deductible remaining
•   -$293.44 : 20% co-pay
• $1,173.77 : total Embrace reimbursement

The small print

As with human medical coverage, wading through the terms and conditions of pet insurance requires fortitude and patience and time.  All insurers require proof of preventive care, i.e., you can’t get reimbursed for heart worm treatment if you have never had your pet treated for heart worm prevention. Other factors to consider include cost of annual premiums, deductibles, wellness coverage, dental coverage, breed restrictions, age restrictions, payment caps, etc. Pet insurance can be found through your local veterinarian or online.  Additionally there are companies that are now offering pet insurance as an elective benefit in their employees medical plans.

An important option

Some pet owners draw the line at saving their pet with “heroic” measures while others may ascribe anthropomorphic qualities to their pets and pay for treatments that can create quality of life issues.  But as a generality, those circumstances are not the norm encompassed by pet insurance and should not be deterrent in pursuing coverage for your pet(s) if you are inclined.

“People plan for shots and spays but not for their pet to be hit by a car or contract Lyme Disease. Pet Insurance relaxes the financial concerns.” Meg Whynot-Young assures us.