Before You Buy Pet Health Insurance for Cats
By Franny Syufy. Cats Expert
Franny Syufy is a freelance writer, and author of a children’s book. Franny has been the Cats Expert for About.com for 17 years, since February 20, 1997.
You can read more about Franny’s current and past work on her Google Profile:Franny Syufy
Does the company use a network or provider list?
If you are determined to stay with your own veterinarian, check with your veterinarian before buying. Their approved lists of veterinarians may require extra driving time. (Of course, if your veterinarian is listed, you re one step ahead.) Fortunately many pet health insurance plans allow you to use any veterinarian you choose. The four companies listed here all state on their web sites that you have a free choice of veterinarians. Ask all companies to see their policy, before signing.
What are the exclusions?
All pet health insurance policies have exclusions. One of the most common is the pre-existing condition exclusion, which can be defined loosely as injuries, medical conditions and symptoms of concern that were evident prior to enrollment.
Other exclusions may include neutering/spaying, hip-dysplasia, vaccinations, flea control. heartworm medication. dental care. or limitations for certain illnesses of cats not neutered prior to first birthday.
What are the deductibles and the co-pay?
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Some companies will charge a flat deductible of $50 to $100, depending on the age of the pet, for each procedure; in addition almost all policies will require a co-pay of 10% to 20% of the veterinarian s fee.
Deductibles and co-pays (also called co-insurance ), are intended to lessen both the number of total claims paid, and the number of unnecessary procedures and diagnostic tests.
What are the incident, annual, or lifetime caps?
Many companies provide a cap (maximum) amount for each covered illness or procedure (incident cap). Some companies also utilize an annual cap, over which no further coverage is provided for that calendar year. Still another cap used by pet health insurance companies is a lifetime cap.
One company has a $12,000 lifetime cap, citing that only one in 50,000 cats ever exceeds that amount in a lifetime. I wonder how many cats are euthanized because their owners can t afford surgery or diagnostic tests? And what about inflation? Dr. Jack Stephens, D.V.M, founded the first pet insurance company for that very reason.
Does the company apply a schedule after deductible or pay a flat percentage?
The answer to this may or may not be a deal killer, depending upon the other terms of the contract.
A Few Better-Known Pet Insurance Companies:
V.P.I provides a 4-page benefit schedule listing hundreds of diseases, conditions, diagnostic procedures and treatments, each with a maximum coverage amount. With the mid-level Superior Plan. V.P.I pays 90% of the schedule amount after a $50 per incident deductible. I carry V.P.I insurance for five of my six cats. In 2011, with V.P.I. the coverage we received for Joey s radioactive iodine therapy for hyperthyroidism actually paid his full premiums for the year. He was our second cat to receive that treatment. He was also our second cat to become hypothyroid after receiving the treatment. Unfortunately, Bubba was not covered by pet insurance when he received the treatment .
On the other side of the coin, with its mid-level Pets First Plan. Pets Best Insurance pays a flat 80% of the veterinary charges, after a $75 per incident deductible. I subscribe to Pets Best Insurance for my Jennifur.
PetCare s QuickCare Optimum uses a short schedule and pays 90% of the schedule amount, after a $100 deductible.
The ASPCA Insurance offer four incremental levels, each offering 90% coverage after a $100 annual deductible. The third and fourth levels cover hereditary conditions, alternative therapies, and behavioral treatments. Those levels also offer routine wellness and advanced wellness for additional fees.
All these companies offer a variety of plans.
Is it a one size fits all policy?
Fortunately some companies offer a variety of plans, depending on the needs of your cat. One company even provides a policy specifically for senior cats. Another has a plan for accident coverage only. Riders are also available, for dental, extended cancer coverage, or preventative care (well-care), among others. You might be able to save premium costs through picking and choosing the plan that is right for your cat.
What are any other benefits and savings?
Some pet health insurance companies are very creative with additional benefits. One company offers coverage for 3rd party property damage liability, holiday cancellation, boarding fees, and advertising for missing pets. Two companies give a 5% to 15% discount for multiple pets enrolled. One company is actively soliciting corporations to offer pet insurance to their employees as part of their benefit package.
What s the bottom line?
There is no way that anyone can advise you whether or not to buy pet health insurance for your cat(s). I originally chose not to, reasoning that the kind of coverage I d want would probably cost more in annual premiums than my average veterinary costs.
In 2007, however, after spending over $2,000 for my senior cat s care in his final weeks, I signed up my three remaining male cats with V.P.I. (Superior Plan)
In February, 2008, I enrolled my latest rescued girl, Jennifur in Pets Best Pets First Plan and pay an extra $1/month to guarantee the premium rate.
When we adopted our two kittens, Sage and Gaither, after weighing the benefits of our V.P.I. policies against the Pets Best policy, we opted to go with V.P.I. for the youngsters.
More Information on Pet Health Insurance Plans:
Janet Tobiassen Crosby D.V.M. About.com s Veterinary Expert, has written a series of articles on pet health insurance. for more in-depth information on individual policies.