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Pet Insurance Has Become More Important in a Time of Sophisticated Veterinary Care

When Maggie, a middle-aged cat, went for her annual checkup last spring, the scale showed she had lost ten percent of her weight. “We have to find out what’s causing this,” the veterinarian said, and mentioned that the cat’s weight loss might have resulted from parasites, hyperthyroidism, even cancer. Over the next several weeks, Maggie underwent a series of tests, each more costly than the last, that eliminated the possible diagnoses, one by one.

Finally, an exploratory procedure under anesthetic established the fact that inflammation was hampering her ability to absorb the nutrition in her food, and the vet prescribed a special diet. Maggie’s story has a happy ending; she is now plump and healthy.

Her relieved owner’s bank balance, however, is considerably thinner, since the accumulated bills totaled more than $1,000.

Veterinary medicine has progressed in the 20 years since the insurance industry introduced medical coverage for pets. An animal that once might have been euthanized, or allowed to die quietly without aggressive treatment, is now often a candidate for chemotherapy, major surgery, or even an organ transplant.

How the Coverage Works

To their owners, pets are members of the family. Serious illness raises issues of quality of life, humaneness and, of course, expense. It’s difficult to weigh all these elements, and even more so when money is in short supply. Pet insurance eliminates the need to base a decision on veterinary care on dollars and cents alone.

The best approach is to prepare for veterinary emergencies before they happen. Pet insurance policies are issued by a number of companies. The consumer should check out the licenses, reputation and experience of each company under consideration. Most people apply for coverage individually, but some have the option of purchasing it where they work.

Different policies have different provisions, but all are basically fee-for-service plans. You can select any veterinarian or animal hospital to deliver the services. Here are some of the features you should look for:

• Pets are eligible for coverage after they reach the age of six weeks.
• The premium is based on your pet’s age when coverage takes effect. Costs are lower for younger animals.
• Most basic plans do not cover routine care such as vaccinations, the annual check up, spaying/neutering, flea control and teeth cleanings.
• Services covered usually include: office visits (except for check ups), prescription drugs, diagnostic tests including lab fees and x-rays, hospitalization, surgery, chemotherapy and radiation treatments.
• Some companies offer a sliding premium scale when more than one pet is insured.
• Different policies have different deductibles, coinsurance rates, maximum benefits for each incident or for the life of the pet. These are reflected in the premiums.

December 6, 2001

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