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Veterinary Practice News Editorial Blog:
Friday, October 30, 2009
In Praise of Pet Health Insurance
By Marilyn Iturri
Editor of VeterinaryPracticeNews.com and Veterinary Practice News
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Marilyn's 12 year old cocker spaniel Mickey
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Thank goodness for pet insurance.
I know that some reputable sources contend that a pet owner is better off to budget for pets’ health emergencies and set aside a certain amount every month in a savings account. But get real, Consumer Reports. Who does that? Even if someone showed that much fiscal discipline, veterinary medical bills can quickly outpace the cost of premiums. At 12, my cocker spaniel, Mickey, is a senior and, granted, more likely than a puppy to start developing medical problems. And though she isn’t a pup, she also is not above puppy stunts like chewing up and eating a plastic dental floss dispenser. But this time, arthritis and an ailment that could be Cushing’s disease took us in to see the veterinarian. A physical exam, radiographs, blood work and various medications added up to a pretty hefty bill. Not crippling, but sizable. I paid with a credit card. Later, I went to my insurance company’s website, printed a claim form, filled it out and faxed it in with the veterinarian’s receipt. A day later, I received an e-mail confirming receipt of the claim. In a week, another e-mail said a check was on its way. About 10 days after I submitted the claim, the check arrived. How’s that for service? Today some 15 companies offer pet health insurance. Premiums and reimbursement policies vary, and it can be confusing for a pet owner to sort them out. But for me, doing so has been worth the time and effort. Some veterinarians remain unconvinced of the value of pet health insurance, fearing that it might lead to the imposition of managed care, along the lines of human health-care models. Reasonable minds can differ over whether the 80/20 model or benefit schedule model is best. As the industry matures, these things will be worked out. In the meantime, I’m happy for the extra help that pet insurance gives me in caring for my dog. Even with its limitations, it’s good to know that it’s there if I need it. And when my veterinarian recommends expensive diagnostic assessments, he doesn’t have to watch my head explode.
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