Is Pet Health Insurance worth it?

[vansX2]

I don't - I just have the one cat and I get coverage through work. Sorry I can't be more help.

So your work insurance also covers your Cat ?

 

[vansX2]

Hi! One of our cats became very sick last May, and nearly died, from a "mystery illness" that lasted 2 months. We love our vet, but even after Galileo looked (and behaved) fully healed, "Dr. S" wanted to do continual tests. At the $1100 mark I called a halt (and had previously declined some of the vet's suggestions for expensive scans). We had reached our financial limit. We had followed all medicine routines, sick-cat feeding/drinking tips, and OKed all blood tests and skin tests. We had watched over him in shifts, 24/7, for two months. We never found out what the mystery illness was, but Galileo responded to steroids and gradually resumed eating, gained back lost weight, and finally resumed playing, grooming, and wanting to be petted. My son and I were very relieved and grateful.

My question is, does anyone have experience with pet health insurance? Are the monthly premiums worth it? How does it work if you have more than one pet? Do the plans that say "unlimited" really cover everything? I have never purchased pet insurance, but after our recent (expensive!!) experience above, I'm tempted.

(We also had a dangerous but less expensive incident last March, when Galileo's brother, DaVinci, ate part of a daffodil, which can be toxic to cats. He was OK. Vinci is incredibly loving, but very dumb, when it comes to eating weird and hazardous things, including dryer sheets!)

Replies very much appreciated! Thanks!
~ KittyboyGrandma

I did a online quote for my 2 boys a few minutes ago. Using Nationwide for a quote
If I select "Major Medical" Both cats are approximately $24.39/mo. That is with 50% reimbursement, $250.00 deductible. And a $10k total cap. My Veterinarian thinks it's a waste of money. Especially since my boys are strictly indoor Cats. Now I'm at a crossroads Yes/No. Or continue looking elsewhere.

 

[ObeseChess]

So your work insurance also covers your Cat ?

Not quite - pet insurance is an optional benefit at my job.

$25 a month is pretty cheap in the grand scheme of things, and it will likely get more expensive as your cats get older. I think through work mine is about $20 a month, but considering Sassy is a 13 year old rescue that's pretty remarkable. She had $1,000 in work done earlier this month - after the $250 deductible, I got reimbursed 50% and had $375 back to me in like two days. She still needs follow up work (that's for another thread) and I would really be stressing if I did not have insurance right now.

 

[daftcat75]

I did a online quote for my 2 boys a few minutes ago. Using Nationwide for a quote
If I select "Major Medical" Both cats are approximately $24.39/mo. That is with 50% reimbursement, $250.00 deductible. And a $10k total cap. My Veterinarian thinks it's a waste of money. Especially since my boys are strictly indoor Cats.

It's very easy for a strictly indoor cat to run up $10,000 plus in vet bills. That plan may be a waste because it has a cap and only 50% reimbursement. The question is not whether you think they need insurance, but what will you do if they run up a $10,000 bill? Are you going to refuse them needed care because you can't afford it? Will you be able to come up with $5000 (or more since the cap puts you on the line for anything else that happens that year) even with the insurance reimbursement? If that is a lifetime cap, that's definitely a waste. There are better plans out there. Trupanion can be more affordable with a higher deductible. Since they reimburse 90%, that same $10,000 will set you back much less even with a higher deductible. Trupanion doesn't have lifetime caps. They don't have annual caps either.

If you do want to protect your fur kids and protect your finances, you'll want to sign them up for insurance now while they are healthy. Anything they have seen the vet for in the past 18 months may be counted as a pre-existing condition. My strictly indoor Krista had a vomit visit in her 18 month lookback. That meant all her future IBD and lymphoma expenses were not covered. But she still managed to run up the bill for Trupanion--twice! Once was a ten day hospitalization for awful liver numbers plus dental work that was also needed. The other huge bill was an ear infection so bad that it required surgery to relieve. Trupanion paid out more than I ever could have paid back to them in premiums.

Insurance is a tricky beast. It feels like a waste if you never use it. But once you're hit with one of these big bills, not having it could be your biggest regret. You may be left with a very difficult decision of your cat's health or your finances. If you can get that $25/mo price with a higher deductible, even it's per cat, that's only $300/year. That's what a regular wellness visit runs me here. That's a small price compared to having to come up with the full payment of an accident, emergency, or major medical visit. Choose the highest deductible to lower the premiums because after reimbursement, your costs will still be lower than no insurance at all

 

[vansX2]

Not quite - pet insurance is an optional benefit at my job.

$25 a month is pretty cheap in the grand scheme of things, and it will likely get more expensive as your cats get older. I think through work mine is about $20 a month, but considering Sassy is a 13 year old rescue that's pretty remarkable. She had $1,000 in work done earlier this month - after the $250 deductible, I got reimbursed 50% and had $375 back to me in like two days. She still needs follow up work (that's for another thread) and I would really be stressing if I did not have insurance right now.

Last year one of my friends whom has 3 Maine Coons. Had surgery on the Female cat. Cost him $5500. He was lucky to have the funds onhand.As he doesn't have insurance.

 

[ObeseChess]

Nationwide also has a 75% reimbursement plan but it is worth noting that you should shop around, I have heard good things about Trupanion as well and 90% reimbursement with no maximums is definitely better. For me, Nationwide was guaranteed issue as a work benefit and nobody else would insure Sassy for less than, gosh, maybe $150/mo due to her age and uncertain history. And yes, I would not have been able to come up with the money I needed for Sassy's medical care - but I was able to come up with half of it. Definitely worth having insurance and lots of great options.

 

[vansX2]

Nationwide also has a 75% reimbursement plan but it is worth noting that you should shop around, I have heard good things about Trupanion as well and 90% reimbursement with no maximums is definitely better. For me, Nationwide was guaranteed issue as a work benefit and nobody else would insure Sassy for less than, gosh, maybe $150/mo due to her age and uncertain history. And yes, I would not have been able to come up with the money I needed for Sassy's medical care - but I was able to come up with half of it. Definitely worth having insurance and lots of great options.

I just looked at Trupanion seems there associated with State Farm. Of the two, I think Nationwide has a better policy for me. I saw a listing of other name companies. One is called Pumpkin. I guess I feel better having a name brand company to be associated with.

 

[reba]

Not quite - pet insurance is an optional benefit at my job.

$25 a month is pretty cheap in the grand scheme of things, and it will likely get more expensive as your cats get older. I think through work mine is about $20 a month, but considering Sassy is a 13 year old rescue that's pretty remarkable. She had $1,000 in work done earlier this month - after the $250 deductible, I got reimbursed 50% and had $375 back to me in like two days. She still needs follow up work (that's for another thread) and I would really be stressing if I did not have insurance right now.

Wow that’s a great benefit.

 

[reba]

I did a online quote for my 2 boys a few minutes ago. Using Nationwide for a quote
If I select "Major Medical" Both cats are approximately $24.39/mo. That is with 50% reimbursement, $250.00 deductible. And a $10k total cap. My Veterinarian thinks it's a waste of money. Especially since my boys are strictly indoor Cats. Now I'm at a crossroads Yes/No. Or continue looking elsewhere.

Try Embrace. I have a $1,000 deductible and 90% reimbursement and 15K cap. My cats are all indoors and one blocked cat is easily a $2,000 bill at the eclinic, $7K for surgery. The point is to limit your risk to a fixed amount. 50% reimbursement doesn’t do that IMO. You’re better off with a high deductibe/high reimbursement %.

 

[vansX2]

I’ve written a few posts on this. Here’s my experience.

First - you hope you never use it. “Worth It” means you never get a dime back out of it. It’s like complaining that you wasted all your money on homeowner’s insurance because your house didn’t burn down.

I had 5 cats to insure, 3 kittens and two parents. All were under 3 years old when I insured them. I got a policy with Embrace with a $1,000 deductible/90% reimbursement, $15K annual limit, and then started saving for the deductible. The total premiums were initially less than $10 per cat. The deductible goes down $50 per year each year you don’t use it. The premiums held steady until they started getting older and then they were increasing every year, but were still less than one trip to the vet with tests. (Remember once you pick a company you’re committed because now you can’t change without pre-existing condition problems.)

Unfortunately I more than got my money back. The policy has paid out without any problems (e.g., $7,000 for pu surgery). Embrace is easy to deal with, you don’t even need claim forms any more and since I insured them so young, they claims adjuster doesn’t have to worry about making sure there’s no pre-existing conditions.

It’s also nice knowing that I made treatment decisions solely on my cat’s quality of life and not because “that’s too much money to spend on a cat.”

The purpose of insurance is too limit your risk. So for example, I knew that I wouldn’t have to spend more than $1,000 plus the cost of the premiums per year on accident/illness vet bills. This assumes of course that more than one cat didn’t get seriously ill in a year, which was very unlikely IMO.

Do you pay a monthly premium or a one time yearly payment ? Do you get a discount doing the Once a year payment ? I have researched approximately 8 companies. Most are similar in fees.

 

[vansX2]

Many (maybe most / all?) pet insurances don't work the same was as medical insurance for people. You typically have to pay the vet bill in full up front and the send a copy of the bill to the insurance company as a claim to get reimbursed. A wellness exam is usually covered in full but some vet services and prescription medicines may only be partially covered if at all. Many offer a basic routine wellness plan as well as more comprehensive plans. Holistic / alternative veterinary treatment are usually not covered.

My employer offers at 10% discount on Pets Best insurance, https://www.petsbest.com It looks it covers a lot of veterinary care and needs, even hereditary conditions and pet wheelchairs. I'm not enrolled in any pet insurance because my cats have what are considered pre-existing conditions so they can't be covered.

Definitely read the fine print before purchasing any pet insurance. You can request a free quote from any company to compare plans and prices.

I looked at "Pets best". But I've seen more happy people in this thread endorsing "Embrace". I had Petland last year on my two boys. I dropped It because of The required Yearly exams. Also a horrible way to be reimbursed for a claim. I wonder if I can get 2 policies cheaper if I do a One time yearly payment ?

 

[wealthy1]

I have Trupanion. Heard nothing but great things about them. Unfortunately, they won't cover for pre-existing conditions. My one cat has gingivitis.

 

[vansX2]

I have Trupanion. Heard nothing but great things about them. Unfortunately, they won't cover for pre-existing conditions. My one cat has gingivitis.

I looked at them, but thought the were expensive. I'm still debating which insurance company to choose. I just looked at "Pets Best" for my two boys, it would be basic plan $232.14 +Routine care $192.00 per cat. Total of $825.06. If I paid the whole year I would save $23.22. . One boy is 3 yrs, the other is 2 yrs. Seems a awful lot of money.

 

[wealthy1]

I looked at them, but thought the were expensive. I'm still debating which insurance company to choose. I just looked at "Pets Best" for my two boys, it would be basic plan $232.14 +Routine care $192.00 per cat. Total of $825.06. If I paid the whole year I would save $23.22. . One boy is 3 yrs, the other is 2 yrs. Seems a awful lot of money.

Both my cats were 2 when I got them insurance. I pay $480 (about $40 per month) for the entire year for both cats; plus I have a rehab rider. (That I'm going to remove.)

 

[vansX2]

Both my cats were 2 when I got them insurance. I pay $480 (about $40 per month) for the entire year for both cats; plus I have a rehab rider. (That I'm going to remove.)

I was paying about $440. Last year with Petland on both Cats. One of the things I didn't Like was that it was required that both Cats were seen by a Veterinarian Prior to the policy taking effect. Recently I had my boy "Jackpot " at the Vet's or a teary eye. I opted for a 3yr. Rabies shot. I haven't had the other boy "Miles" in for over 1 year. I hate that prerequisite of a Veterinarian exam just to have a insurance policy.

 

[daftcat75]

I looked at them, but thought the were expensive. I'm still debating which insurance company to choose. I just looked at "Pets Best" for my two boys, it would be basic plan $232.14 +Routine care $192.00 per cat. Total of $825.06. If I paid the whole year I would save $23.22. . One boy is 3 yrs, the other is 2 yrs. Seems a awful lot of money.

Routine care plans or wellness plans are usually not worth it. They are more often budgeting tools than insurance products. You buy a certain bucket of services covered by the wellness plan at a slight discount to what you would normally pay. Except you spread the payments over monthly bills. Unless you take advantage of all the services covered in the wellness plan every year, you run the risk of losing money (paying for services you aren’t using.) I recommend maximizing both the deductible and the reimbursement to find yourself a good rate with room to grow (because it will with your cats’ age and inflation.) And because no plan covers preexisting conditions, you want a carrier you can stick with even with price increases. Otherwise anything your cat has seen a vet about in the last eighteen months can become your next carrier’s preexisting conditions. I see the goal of insurance as not to make routine care affordable but to cap my exposure to the non routine, the accidents and illnesses that can have catastrophic bills. Instead of paying the insurance company for routine care or wellness plan, save that yourself. This way you don’t lose that money if you didn’t use every included service in a year. And while a $1000 deductible might sound a lot, it’s a lot less when the bill is many times that amount. Healthy Paws was the only one I found cheaper than Embrace. But they had lower limits and lower reimbursement. The higher exposure wasn’t worth the few dollars in savings. I opted for the annual payment. It lets you plan and save all year for the possible premium increase. But then once you get and pay that bill, you have twelve months to plan for the next increase. Insurance is only good as long as you can afford to pay the premiums. I’d rather be on the line for an extra $500 in deductible than to not be able to afford the premiums over the years.

 

[reba]

Do you pay a monthly premium or a one time yearly payment ? Do you get a discount doing the Once a year payment ? I have researched approximately 8 companies. Most are similar in fees.

I pay monthly, charged to my credit card. I don’t ever remember seeing a discount option so IDK.

 

[reba]

I looked at "Pets best". But I've seen more happy people in this thread endorsing "Embrace". I had Petland last year on my two boys. I dropped It because of The required Yearly exams. Also a horrible way to be reimbursed for a claim. I wonder if I can get 2 policies cheaper if I do a One time yearly payment ?

Yes, embrace has a multi-pet discount. Deductible also goes down $50 per year every year you don’t use it. As I’ve said, I like their high deductible, 90% reimbursement plan. The wellness isn’t really a plan, but a forced savings account.

 

[vansX2]

I pay monthly, charged to my credit card. I don’t ever remember seeing a discount option so IDK.

From what I'm Seeing with the majority of Pet Insurances . All require that the pet be seen at a Veterinarian within in a Year of opening a policy. I'm not a big fan of that. As I haven't had my older boy in for 1.5 yrs. Both are strictly indoor Cats . There hasn't been a real need. My younger boy was in recently for a weeping eye. While there al ssd o received a 3 yr. Rabies shot. It looks like I will only be insuring one Cat for the moment . I've only heard of two companies recommended by people on this thread. "Embrace & Trupanion". Still trying too sort things out. Thanks for your imput.

 

[reba]

From what I'm Seeing with the majority of Pet Insurances . All require that the pet be seen at a Veterinarian within in a Year of opening a policy. I'm not a big fan of that. As I haven't had my older boy in for 1.5 yrs. Both are strictly indoor Cats . There hasn't been a real need. My younger boy was in recently for a weeping eye. While there al ssd o received a 3 yr. Rabies shot. It looks like I will only be insuring one Cat for the moment . I've only heard of two companies recommended by people on this thread. "Embrace & Trupanion". Still trying too sort things out. Thanks for your imput.

They can’t insure the cat without knowing if it has pre-existing conditions. You are going to have to provide all your vet records. I got it when they were less than a year old and that way I had zero problems with getting claims paid. You can ask them in advance what they won’t cover after submitting your vet records. You don’t want any surprises.