What are pet insurance benefits?

Whether they bark, purr, tweet, or oink, your team's pets are part of their families. And every member of the family deserves the best care and protection available. Pet insurance is a way to ensure these beloved family members stay healthy and protected – and your employees aren’t blindsided by pricey vet bills.

What happens when your lil’ fur baby gets into the garbage and eats something that it’s not supposed to? Suddenly you have an emergency situation on your paws. Luckily, pet insurance means you won’t have to think twice before taking your furry friend to the vet.

The first pet insurance policy was issued in America in 1982 to television superstar Lassie. Nowadays, your employees' pets don’t have to star in their own TV show to be covered by a policy.

Pet insurance benefits have quickly become more common and accessible to the average Joe. A 2021 report shows that 3.45 million pets are now insured.

Pet insurance benefits can cover a wide variety of services, such as:

• Accidents, including broken bones or swallowing of objects
• Annual check-ups
• Regular lab work
• Illnesses
• Chronic conditions
• Behavioral issues
• Prescription food and supplements

The same variety of services your employees' healthcare benefits cover are now available for dogs, cats, or even horses.

How do employees use pet insurance benefits?

Employees use pet insurance benefits programs the same way they use healthcare benefits: to find affordable quality care for the furry (or fluffy, or feathered, or even scaly) members of their family.

Finding a veterinarian, paying for appointments, and managing the health and wellness of their pets are made easier with a pet insurance benefits plan.

If your employees know how to use their own health insurance, they’ll get the hang of pet insurance quickly. Their coverage will include a deductible, just like their own healthcare plan – usually in the range of $250–$500.

How do pet insurance benefits impact employees?

Pets offer companionship and camaraderie that’s very special. Studies have shown that owning a pet can encourage employees to be more active, exercise frequently, and reduce stress levels by promoting physical as well as mental health.

But the costs of pet care can really add up. The average emergency vet cost for a 3–5 day animal hospital stay can cost between $1,500–-$3,000 for a cat. That’s a huge expense that even the most responsible pet owners may not be ready for.

When your employees have access to pet insurance benefits, they won't have to decide between saving their beloved little mischief-maker and their bank accounts. That’s a heck of a lot of financial pressure instantly gone.

Pet insurance can also encourage your employees to look into pet ownership. And that may be a good idea, seeing that people who own pets have have a lower heart rate and blood pressure than folks who don’t own pets.

Why should employers offer pet insurance benefits?

Offering pet benefits will give your company a competitive edge, while simultaneously promoting the wellness of your team and their pets.

As of 2020, more than 3 million U.S. dogs and cats have pet insurance. The pet insurance market is growing steadily and more employees realize that this type of benefit is not only important to protect their pets well being, but it’s also a safeguard for their own financial wellness.

What are the best pet insurance providers?

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