You promised to provide your pet with the best care: from nutritious foods, squeaky toys and soft beds to routine vaccines, dental cleanings and vet care for unexpected health issues.
Regular vet care is essential to keep pets healthy and happy, but those costs can add up. The average cost of an annual wellness visit is $169 for a cat and $192 for a dog, and costs to treat chronic conditions, illnesses or injuries are added expenses.1 In a recent survey, the American Veterinary Medical Association found that 15% of pet parents cited affordability and value as their primary reason for not scheduling vet visits in the past two years.1 Pet insurance can help.
In 2021, nearly 4 million pets in the United States had pet insurance coverage—a 28% increase over 2020.2 Policies covered both routine visits and surgical care, giving pet parents peace of mind that their four-legged friends would receive the best care.2
Understanding pet insurance
Pet insurance was designed to help cover vet costs. Pet parents purchase pet insurance policies, pay monthly or annual premiums and submit claims to receive reimbursement for covered conditions.
There are three common types of pet insurance coverage:3
- Accident-only plans: These policies cover vet care for accident-related injuries like broken bones, accidental poisoning, bite wounds or swallowed objects, but not annual exams, vaccines or other routine care.
- Accident and illness plans: In addition to providing coverage for accidents, these plans cover illnesses, including arthritis, diabetes and other chronic conditions like cancer.
- Preventive plans: Coverage for routine care like annual exams, vaccinations, flea and heartworm prevention and spay/neuter surgeries can often be purchased as an add-on to an accident-only plan or an accident and illness plan.
Different pet insurance policies have different terms, including premiums, deductibles, reimbursement percentages and annual limits.3 So, what is the most affordable pet insurance? The fewer things pet insurance covers, the cheaper the policy.
Keep in mind that most pet insurance policies don't cover pre-existing conditions, elective procedures or experimental treatments.3
Do all vets take pet insurance?
When it comes to pet insurance, there are no “in network" or “out of network" providers.3 Most policies allow you to choose any licensed veterinarian, specialist or emergency clinic.3 This is good news for pet owners who love their current vet, need to seek care while traveling or have just wondered, “Can I take my dog to any vet?" or “Can pet insurance be used anywhere?" Make sure and check with the insurance provider when it comes to international coverage, as it might not be offered by all insurers.
In fact, most pet insurance policies work on a reimbursement basis, which means you pay the vet bills and submit a claim to your pet insurance provider to recover the costs of eligible treatments. Veterinarians aren't involved in the reimbursement process, eliminating the need to search for a clinic that accepts your pet insurance.3
Another pet insurance payment option offered by some insurers is Vet Direct Pay. This optional claims reimbursement feature included with pet insurance plans sends direct reimbursement to your veterinarian for covered costs. That way, you don't have to dip into your savings or max out your credit cards to pay vet bills upfront.
Alternatively, some pet insurance companies partner with veterinarians and allow vets—not pet owners—to submit claims for reimbursement. Your vet will only be able to submit pet insurance claims if they have an established partnership with an insurer that offers this feature.
How to find a vet that takes pet insurance
Since the policy, claim submission, and reimbursement is all policyholder based, you don't have to worry about whether your veterinarian accepts pet insurance. Remember, pet insurance coverage where you pay upfront and submit receipts for reimbursement doesn't require your vet to “accept" the coverage since they're never out of pocket and will bill you for services like they normally would.
If you're looking for a vet, Pets Best has a “Find a Veterinarian" tool to help you locate a great vet nearby.
Wondering how to prepare for a visit to a vet that takes pet insurance? It's easy! Schedule the appointment, pay the vet bill in full, file a claim with your pet insurance company and receive reimbursement for eligible costs via check or direct deposit.3
Last word
Whether you choose a pet insurance policy that covers accidents only or a more comprehensive policy that also covers illnesses and wellness care, pet insurance provides peace of mind. Start shopping for a policy at Pets Best.
Sources
1R. Scott Nolen. “Pet ownership rate stabilizes as spending increases." American Veterinary Medical Association. https://www.avma.org/news/pet-ownership-rate-stabilizes-spending-increases. Published October 26, 2022. Accessed February 3, 2023.
2“Industry Data." North American Pet Health Insurance Association. https://naphia.org/industry-data/. Published May 2022. Accessed February 3, 2023.
3Mandy Sleight. “What Is Pet Insurance and How Does It Work?" U.S. News & World Report. https://www.usnews.com/insurance/pet-insurance/what-is-pet-insurance. Published February 1, 2023. Accessed February 3, 2023.