- Joined
- Feb 15, 2018
- Messages
- 1,891
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- Location
- Philadelphia
- Pre-Veterinary
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Pet insurance is definitely far from perfect, and is very prohibitive to people without good credit who could put everything on a credit card and wait for reimbursement. But of course it’s better than nothing. As it stands now, I think more people should know about how per insurance works, and that care credit is a good option to cover the cost in many cases while waiting for reimbursement. If you have a $2000 vet visit, many people won’t just have that sitting around in a bank account. If they put that on care credit and get 6 months interest free, they could easily wait until insurance reimburses them. Even if that’s only 80% with a $200 deductible or something, that’s well within the range that most people have lying around. Again, not perfect, but far better than the alternative, and most people don’t even know that doing this is an option.The current state of insurance in vet med is a reimbursement model. Pet owner almost always has to pay up front then gets reimbursed by their insurance company. A few companies do pre-approvals for faster payouts and one I know of will pay the vet directly, but my dog’s insurance company (a popular one) pretty routinely takes 30 days (occasionally more) to reimburse me. While I do think that that is a positive for the vet/clinic since they get their payment for services up front, I think that’s a limitation right now against pet insurance for the masses. While I don’t think I want it to go the ways human med is now, it still means that today, someone with pet insurance still needs to have several thousand dollars available in savings or on a credit card or as care credit or something to pay until the insurance comes through. If we get to a point where all the companies pay out within days (not 1-2 months) or routinely pay vets directly that could change, but I have family members that could maybe afford premiums but they don’t have that emergency fund to pay the bill up front and wait for reimbursement.




