pet insurance

[bern]

What's everyone's take on pet insurance? I haven't looked into it very closely myself, but I can see where it could be a big help for pet owners. Anything that allows people to afford necessary treatments and procedures for their pets sounds like a good idea to me. But on the other hand, HMOs for humans are certainly not without problems. What sort of impact would it have on veterinarians if pet plans become common?

 

[Pennbound]

Most veterinary insurance programs are indemnity programs - meaning that the contract is between the patient's owner and the insurance company. Clients must see a licensed veterinarian and pay for all services out of their own pocket. The licensed vet then fills out the "claim" form, which asks for a diagnosis and signature. The owner then submits the form to the insurance company for reimbursement of fees covered under their plan. It is not an HMO - thank god! From an owner's perspective it is prepaid healthcare for their animals. It is a lot easier for some to pay $15-20/month for 5 years than it is to pay a $900-1200 bill at once. The insurance doesn't pay for everything. It is important to remember that "the house never loses" - the house meaning the insurance company. Having insurance involves a 3rd party in your pet's veterinary expenses but it also pools the risk of many animals, of only a few which will need expensive care. To conclude, the choice is up to the owners. The role of the veterinarian is to be educated about reputable insurance companies in order to guide their clients financially to be able to provide the best quality care. This is also an issue that can primarily be of the hospital administrator's concern. Hope this helps.

 

[birdvet2006]

Pet insurance is very common here in the UK, and without it - many dogs would not be getting spinal surgery, MRIs, myelographs, TPLOs, weeks of ICU hospital care, etc. at our vet school (or anywhere else). There are several types of insurance here. Some set a limit of money provided for the lifetime of the animal. Others pay out a certain amount each year. Then there's the type of insurance you can buy for valuable breeding or performance animals (i.e. race horses) that will supply a certain amount of money if the animal is injured or becomes infertile/incapable of breeding.

I have heard that in the US, the insurance companies tend to try to avoid paying for pets' problems by "blaming it on the breed". If a breed is predisposed to hip dysplasia, for instance, then they will refuse to pay for total hip replacement (for example - not sure if this is real or not). There are apparently a huge list of disorders that insurance companies refuse to cover due to the breed of the animal. I'm not sure how it would work for a mixed breed.

I don't have much of an opinion at the moment in the US because I still haven't found that many pets are insured, and I think it will be a long time before that happens. In the UK, I see pet insurance as a great thing.

 

[weeziefive]

Pet insurance is very common here in the UK, and without it - many dogs would not be getting spinal surgery, MRIs, myelographs, TPLOs, weeks of ICU hospital care, etc. at our vet school (or anywhere else). There are several types of insurance here. Some set a limit of money provided for the lifetime of the animal. Others pay out a certain amount each year. Then there's the type of insurance you can buy for valuable breeding or performance animals (i.e. race horses) that will supply a certain amount of money if the animal is injured or becomes infertile/incapable of breeding.

I have heard that in the US, the insurance companies tend to try to avoid paying for pets' problems by "blaming it on the breed". If a breed is predisposed to hip dysplasia, for instance, then they will refuse to pay for total hip replacement (for example - not sure if this is real or not). There are apparently a huge list of disorders that insurance companies refuse to cover due to the breed of the animal. I'm not sure how it would work for a mixed breed.

I don't have much of an opinion at the moment in the US because I still haven't found that many pets are insured, and I think it will be a long time before that happens. In the UK, I see pet insurance as a great thing.

My friend actually works as a claim processor at VPI (veterinary pet insurance) in the US. At the moment, predisposed breeds and I believe congential problems or previous conditions are excluded and the animals will not be insured. However, he said that starting in this summer they will actually be integrating their insurance like that of human medicine where "all" animals no matter breed problems, congential etc. will be covered. They pay for cancer treatments, transplants etc.. I guess if you have the money its your decision. But people do need to realize that animals cost money. I have many friends with separate credit cards for their horses in case of emergency colic surgery or other such disasters.