Anyone Have Healthy Paws Insurance?

[weebeasties]

I got Buddy on Healthy Paws Insurance when he was a kitten (8weeks). He just turned a year old and I received a notice that his insurance will be going up from $25 a month to $30.
I was expecting it to go up as he aged, but not after just one year. He is neutered, indoor only, had all his vaccinations, and I have never filed a claim. I would think that since he has made it through his first year healthy, the risk of the insurance having to pay out would be less now.
For anyone with Healthy Paws, do they raise rates by $5 a month every year? If they do, I'm thinking it will be unaffordable by the time he turns 7, and that will be the age he is more likely to need it.
Anyone with experience?

 

[neely]

I did a quick search about pet insurance, specifically Healthy Paws and several threads came up but did not specifically discuss rate increases. However, it appears where you live may have an impact on the cost for your plan.
Here are several threads for your review:
Cat Insurance or Care Credit?
Best Pet Insurance
Pet Insurance? Please help!!
Pet Insurance--raise deductible or go without?

 

[Willowy]

I have Healthy Paws for my dog, and, yeah, it did go up $5 after a year :/. If that keeps up it'll be too expensive in a few years. I figured I'd give them another year or so and see if that's a regular thing. And then, idk, have him x-rayed to see if he's likely to get knee or hip problems (that's what I'm really afraid of) and if he's good I'll cancel the insurance. But I do hope they keep it affordable.

 

[DreamerRose]

I've had Healthy Paws for years. It's now $48 per month for two cats, so I don't think it's gone up much.

 

[maxmeezu]

Hi - I have two cats insured with HealthyPaws (maryland). We started at $42, then it increased to $46, and now they are telling it's going to be $60! That's a 45% increase from the original price and NOT at all what I expected from them. My cats are 2 and 2.5 years old and currently healthy - I have not filed a claim in nearly a year. I'm wondering if they raise rates more and more so people cancel their policies and they aren't insuring senior pets. I would love to keep my policy but at their young ages the math isn't looking good. I have no idea what to expect - has anyone been with healthypaws long term? and if so, what rate hikes have you experienced?

 

[DreamerRose]

Mine is still at $48 for two cats, one 5 and one 4. I think yours went up so much because of your claim. Insurance companies do that - it's called loss prevention. Mine seems to go up about $4 per year.

I've been thinking about canceling it and just putting the money in a separate account. Healthy Paws doesn't cover routine checkups and vaccinations, and those are running me about $450 per year.

 

[klunick]

Husband's new company offers pet insurance through Healthy Paws pet insurance. This thread is about a year old. Any updates on whether or not it is worth it? We have never gotten pet insurance before and I find it odd that one is offered through my husband's company. Our pets have always been relatively healthy and any expensive treatments have always been covered by us with no financial hardship. Can't justify getting it unless there is some hidden benefits.

 

[maxmeezu]

Hello, I’d replied earlier when I was debating canceling it. I ended up keeping the policies and I’m glad I did. The cost of vet care, especially diagnostics and emergency care, has increased so much, any issue with your pet can nearly sink you, or put you in a position where you’re choosing being personal finance and your pets life. The premiums do seem high, and the yearly increase is painful, but likewise so do vet bills...

My cat ate part of the foam handle from his feather wand and the vet bills were about $8000 just a few months ago. Insurance covered all but about $2500. Still painful, but it was a huge relief after looking at the initial bills This is exactly what pet insurance is for. I would strongly advise having a policy, although of course there’s a risk you’re throwing away money every month. Even if there’s nothing big, there will be small bills covered that reduce your costs.

 

[klunick]

Hello, I’d replied earlier when I was debating canceling it. I ended up keeping the policies and I’m glad I did. The cost of vet care, especially diagnostics and emergency care, has increased so much, any issue with your pet can nearly sink you, or put you in a position where you’re choosing being personal finance and your pets life. The premiums do seem high, and the yearly increase is painful, but likewise so do vet bills...

My cat ate part of the foam handle from his feather wand and the vet bills were about $8000 just a few months ago. Insurance covered all but about $2500. Still painful, but it was a huge relief after looking at the initial bills This is exactly what pet insurance is for. I would strongly advise having a policy, although of course there’s a risk you’re throwing away money every month. Even if there’s nothing big, there will be small bills covered that reduce your costs.

Thank you for the reply. I will definitely keep it in mind when we fill out the insurance forms when my husband starts his new job Dec 1.

 

[Juniper_Junebug]

Husband's new company offers pet insurance through Healthy Paws pet insurance. This thread is about a year old. Any updates on whether or not it is worth it? We have never gotten pet insurance before and I find it odd that one is offered through my husband's company. Our pets have always been relatively healthy and any expensive treatments have always been covered by us with no financial hardship. Can't justify getting it unless there is some hidden benefits.

Does your employer subsidize the insurance (not just offer you a small discount through the provider, but actually pay part of the premium)? That might make it worth it, from a strictly rational, economic perspective. For example, I get vision insurance through my employer which almost always pays out more than I pay in (glasses every year). This would not be commercially viable except that my employer heavily subsidizes it (and in that sense, it's less like insurance against unforseen costs and more like a benefit).

 

[klunick]

Does your employer subsidize the insurance (not just offer you a small discount through the provider, but actually pay part of the premium)? That might make it worth it, from a strictly rational, economic perspective. For example, I get vision insurance through my employer which almost always pays out more than I pay in (glasses every year). This would not be commercially viable except that my employer heavily subsidizes it (and in that sense, it's less like insurance against unforseen costs and more like a benefit).

I will have to look again and see what is offered.