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Is pet health insurance worth the cost?

Written and medically reviewed by Dorcas Morak, PharmD

Pets are more than just animals; they are members of our family. As pet owners, we want to make sure that our furry friends receive the best possible care, and that includes their health. Just like humans, pets can get sick or injured, and veterinary care can be expensive. Most Americans find it challenging to afford a $1,000 emergency vet bill, and about 33% of pets will need emergency treatment each year. That's where pet health insurance comes in. In this article, we will explore what pet health insurance is, how it works, and why it's important for pet owners.

What is pet health insurance?

Pet health insurance is a type of insurance policy that covers the cost of veterinary care for your pet. Like human health insurance, pet health insurance policies typically cover a range of medical expenses, including routine checkups, vaccinations, diagnostic tests, surgeries, and emergency care. The coverage and cost of pet health insurance policies vary depending on the provider and the type of plan you choose.

How does pet health insurance work?

To get started with pet health insurance, you need to choose a provider and a policy that meets your pet's specific needs. Most providers offer a range of plans with different levels of coverage and deductibles, so it's important to research your options and choose a plan that fits your budget and your pet's healthcare needs.

Once you have selected a policy, you pay a monthly or annual premium to the insurance provider. When your pet needs medical care, you take them to the veterinarian and pay the bill out-of-pocket. You can then submit a claim to your insurance provider for reimbursement of the covered expenses.

It's important to note that most pet health insurance policies have limitations and exclusions. Some policies may not cover pre-existing conditions or certain types of medical treatments. It's essential to read the policy carefully and understand the coverage before signing up.

What does pet insurance cover?

Your pet insurance reimburses you for unforeseen medical expenses resulting from mishaps, diseases, and injuries. The best insurance providers will cover 80%, 90%, or even 100% of the vet cost (after your deductible is met). Like most insurance, you must pay a monthly premium to maintain coverage. Once your deductible is satisfied, you can anticipate that your insurance company will cover your pet's eligible costs up to your policy's limit based on your reimbursement rate.

What does a pet insurance plan not cover?

Pet insurance providers do not cover pre-existing conditions. However, some insurance companies will pay for treatable conditions after a set waiting time and without recurring symptoms. Pets with a condition still qualify for insurance; only pre-existing conditions would be excluded. Other things that are not covered by pet insurance are:

  • Pet supplies such as food and treats
  • Cosmetic or elective procedures
  • Routine care
  • Preventive care
  • Vaccinations (you can include vaccination as an add-on plan)

Why is pet health insurance important?

Pet health insurance can provide peace of mind and financial security for pet owners. Veterinary care can be expensive, and unexpected medical bills can quickly add up. Pet health insurance can help cover the cost of routine care and unexpected emergencies, which can make it easier to budget for your pet's healthcare needs.

Additionally, pet health insurance can provide access to a wider range of healthcare options. Some policies offer coverage for alternative therapies like acupuncture or physical therapy, which can be beneficial for pets with chronic conditions.

Finally, pet health insurance can help pet owners make more informed healthcare decisions for their pets. Knowing that you have coverage for medical expenses can help you make decisions based on what is best for your pet's health rather than what you can afford.

How much does pet insurance cost?

On average, pet insurance costs $47 for dogs and $29 for cats each month. The actual cost of pet insurance depends on factors such as your location, the age and breed of your pet, and the pet insurance discount you qualify for.

In conclusion, pet health insurance is an important investment for pet owners who want to ensure their furry friends receive the best possible care. By providing financial security and access to a range of healthcare options, pet health insurance can help pet owners make informed decisions and provide the care their pets deserve.

How much does pet insurance cost?

On average, pet insurance costs $47 for dogs and $29 for cats each month. The actual cost of pet insurance depends on factors such as your location, the age and breed of your pet, and any pet insurance discount you qualify for.

Can rxless help me save money on my pet's prescription medications?

You can use an rxless prescription discount to save money on your pet’s medications if the medication has a human equivalent. Use rxless at more than 70,000 pharmacies including CVS, Rite Aid, and Walgreens.