I’m considering getting health insurance for my cat and am wondering is it worth it. From what I’ve found out, most pet owners don’t bother with it and I’m wondering if veterinarians accept this type of payment for services. All that I’ve come up with is a “pay first and we’ll reimburse you” type of set up. Can anyone direct me to a pet insurance company that operates more like one for people?
I’m considering this because I’ve been to the vet in the past and just happened to have the cash to pay the bill. But I’m worried that the next time I won’t.
I used to work at an animal hospital, and here is what I learned about pet health insurance:
Because it’s not regulated, vets can choose whether or not they even take the insurance. The insurance companies that we looked into had the “client pays the dr. and we reimburse them later” deal. Also, I remember noticing that they didn’t seem to pay very much for the yearly things that every pet needs (vaccinations, fecal test, heartworm rx). They paid more for things like emergency care, which led us to believe that it really wasn’t worth it in the long run, because you’d only save money if your pet needed emergency care. One client who happened to have it ended up with her elderly dog going into kidney failure and needing all sorts of expensive bloodwork and medication and treatments- the insurance really helped her in that situation. But most people are going to be paying money for yearly vaccinations and medications, for the duration of the animal’s life, and I thought the insurance companies should pay out more for that stuff than they did.
My advice to you- read over the whole policy to find out how much they will pay for things like yearly vaccinations, etc. Then find out how much your vet charges, and compare the two. Also make sure that your vet is willing to take the insurance. Maybe things have changed in the pet insurance industry since I stopped working at the vets’ (about 3 years ago), so the info I have given you may not be up-to-date. But I wanted to tell you what I knew, and at least give you something to think about. Good luck!
AFAIK, there is no pet insurance that works the same way as human insurance - why, I am not sure, but I imagine most veterinarians would want to avoid having to hire the extra staff they’d need to handle claims and shovel the paperwork around, so they probably wouldn’t want to accept a plan that works that way. The two biggest pet insurance companies require the policy holder to first pay the vet and then submit the claim along with copies of the bill(s) and any other supporting evidence they might require. This gives you the freedom to choose whatever vet you want, but the upfront cash will be coming from you.
I first looked into pet insurance about 8 years ago, and while it has improved over time, I still find it to be rather lacking.
Watch for exclusions for pre-existing health conditions and for conditions that could be considered genetic (i.e., if your dog is found to have, say, hip dysplasia and needs surgery, the company could opt out of paying the bill because hip dysplasia is considered a genetic ailment). There is a maximum reimbursement rate set for every condition under the sun, and if you live in an expensive area of the country, you would be unlikely to recoup the full cost (after the deductible) of the treatment. The policies also tend to be every bit as complex as human insurance, too, which I frankly find to be a huge pain in the, ah, rear parts.
That said, I know a couple people who have it and it came in particularly handy for one family when in one week three of their four dogs ended up at the emergency vet for illnesses and accidents! The bills all together came to something like $3,000 (which they put on a credit card) and they got 80% of it back.
Here’s a couple links to the “biggies” so you can see if you think it might be worth it for you:
Banfield is a chain veterinarian clinic which operates inside many PetSmarts, and they offer something called an “Optimum Wellness Plan” which is the closest thing to human-type insurance I’ve seen for pets. You have to take your pet to a Banfield clinic, though, in order to utilize it. It’s been pretty cost effective for our cats’ vet care over the years, but I’ve also known some people who hated it.
Well, isn’t that the whole point of buying insurance? You don’t buy insurance with the expectation of saving money: if everyone got more out than they paid in, the insurance company would go broke. You buy insurance to guard against the possibility of a large, unexpected expense that you might not be able to afford.
A few weeks ago my beagle was injured and I simple took her to a regular ER when she needed care. I just dressed her up in a little toddler outfit, shaved her head and told them that my poor little human girl suffers from canine syndrome but needs to be patched up. For additional courage, it’s helpful to have been drinking for several days before the visit.
Lots of companies insure horses, the model is very different that with household pets though. The msot common type is essentially colic insurance + mortality. It covers colic surgery and death. The next level up is “major medical/surgical” which covers medical procedures to a greater degree. I wrote up a long post about it in another thread, but it is rare that a horse is injured badly enough to need serious surgery AND is well enough to make the trip by trailer to the necessary care.
If you board, your barn owner should be insured with something called “Equine care, custody, and control” which covers injury by negligence by the barn or its employees.
I got the pet insurance from VPI (linked above). It is a pay-up-front-and-we’ll-reimburse deal. You can buy special riders that will also cover annual shots and exams and mundane stuff that adds up over time, like x-rays and diagnostic blood work.
I got it because I just adopted a young dog who is a champion chewer. I called the vet after some puking and diarrhea and he said, “Dammit, Dogzilla, why don’t you just get pet insurance now before she eats your remote or phone or something and we have to do surgery? She’s totally healthy now and has no pre-existing conditions – and I’ll sign off on that – so you should get a good rate.”
I thought it over and considered how much I spent at his office with my now-dearly-departed old Bostons and I thought, hm, yeah, one major surgery and this will be totally worth it. How likely is it my dog will eat something that will require surgery? Really, really likely.
Dolphinboy, I’m not sure if VPI covers horses or not, but it’s worth a glance at their website.
VPI does not insure horses. I’m not aware of any company that insures horses against routine medical costs. One of the reasons people don’t insure horses agianst ordinary medical costs, is that large animal vets all (or all to my knowledge) extend interest-free credit, 30-90 days, and more if you’re a good customer.
banfield can be an excellent deal.
I had pet “insurance” on my dog. $2000 bill for torn ligament in her ankle surgically repaired.
Insurance paid $600. We cancelled the insurance.
Now, i am grateful for the $600. That was more than we had paid for two dogs for two years. But the point of the insurance had been that we did not want to have the conversation about whether to euthanize because we couldn’t afford the treatment. I’m sorry, but paying 2/3 of a bill means we had face the same question about euthanasia.
however, I support vets, who are often hard working underpaid people who are trained to do amazing things that they never get to do because no one wants to/is able to pay. I think pet insurance should be mandatory for any licensed pet, but I also think that the reimbursement needs to be more like 75%. If you can’t afford it, don’t own a pet, or adopt. We had to kill our second dog because we couldn’t afford the $2500 surgery that probably would have given her two more years of life. I still feel sick about it.
Why the heck should I have to have insurance for a cat? I’ve had pets most of my life (none currently). They are well cared for, and see the vet annually. They get pampered and loved. Most have lived to 15 years or older. But someplace between $500 and $5000 is the number I’d pay to treat a pet. I’ve had to make both decisions.
If a cat needs a $5,000 procedure, it’s not going to get it. I’d sooner have the cat put down, and donate the $5,000 to the local food shelf. Pets are not people. People get expensive medical treatment, and insurance. Pets don’t.