Pet Insurance - What You Need To Know

Pet care cost can be expensive, especially when it involves pet emergencies.  The stress of asking ourselves, how are we going to pay for our beloved pets care can be stressful. Many pet parents once adopting a pet are now considering pet insurance and many insurance companies are now hoping on the pet insurance train and wanting you to sign up with them.  

Many ask how does pet insurance work? Just like human health insurance plans, you pay a monthly fee and a co-pay for services or medical event. Some plans may require an additional fee to cover certain medical testing or services. In most cases, these fees goes towards your deductible. When it comes to pet health insurance, you want to look for one that provides you more than one option. For example, you want to look into a plan that offers coverage for sick visits, illnesses, prescription medications, accidents, hospitalizations, surgeries. Some insurance companies may also provide accident only coverage. 

Pet insurance companies offer a variety of plans which offer various benefits, so you will want to read carefully, review and compare to make your decision.

What are some items that pet insurance companies won't cover:

 - Pre-existing conditions

- Chronic Diseases such as cancer

- Dental Care or Accidents

- Therapeutic Pet Foods

- Alternative or Holistic Care

- Behavioral Training

- Rehabilitation

- Mobility Aids

- Grooming

- Cosmetic Procedures

- Genetic Conditions

Some insurance companies may have a list of exceptions for the list above, contact them directly and ask. In some cases, the are consider riders within the policy. Also, some companies will reimburse you for cost associated with the preventative care, such as routine well visits, vaccinations and preventative medications such as flea and tick control and heartworm medications. 

You will also want to make sure you understand the definitions of what the plan offers:

Veterinary Care - Many plans are considered like an HMO (Health Management Option) for us humans, some plans require you too go too a veterinarian who is within there plan, you'll want to speak with your vet office to ask them what plans they work with.  Because of liability reasons they can't recommend a company. 

Emergency Care - Can you use any emergency clinic ? You will want to ask the company which Emergency Care Clinics in your area your able to go too for coverage.

Specialist Care - Can you go to any specialist? Does the office and the insurance company require a Pre-Authorization or Referral?

Cost - What is the cost for coverage? Does the insurance company require a exam prior to enrolling, if so, is the fee covered? How much are you looking to spend for coverage a year? 

Coverage and Exclusions - What is covered? What isn't?

Reimbursement - How much do you get back for services or for a medical emergency? What is the time frame for reimbursement?

Deductible - What is the amount you will have to pay before you met the deductible. How often do you have to met the deductible and is there a cap for coverage? 

Required Vet Visits - How often does your pet need to be seen by the vet to keep coverage?

Waiting Periods - How long do you have to wait until the policy covers illnesses, accidents, and specific medical conditions?

Online Account - Do they offer online accessibility to review your policy and get real time information about your policy? What are the hours of operation to speak with a representative?