business backgrounder | economy
“ Pet insurance has become a particularly popular benefit , especially with the surge of pet adoptions during the pandemic .”
— Deb Brown , president of Forterra
flexible and customizable coverage
About 70 % of full-time employees have one or more pets . While everyone is prepared for the joy and companionship that comes from owning a pet , not everyone is prepared for the expenses that come along with it . In fact , a recent study found that nearly half ( 47 %) of pet owners have gone into debt for their pet .
Pet insurance can help protect pet owners from unexpected expenses . A standard policy with MetLife covers illnesses , accidents , cancer treatments , diagnostic tests , hospitalizations , surgeries , cruciate ligament issues , exam fees and some medications . Pet owners may also opt for a separate preventive care policy , which would cover wellness exams , heartworm prevention medication , vaccinations , and spaying and neutering .
A huge benefit to MetLife ’ s coverage is that family plans are available . Up to three pets can be covered under one plan with a single deductible . Pre-existing conditions , or illnesses , injuries or symptoms that manifested prior to enrollment , may not be covered .
Insurance for dogs starts at as little as $ 15 / month , while cat insurance starts at $ 9 / month . The deductible and reimbursement rates are customizable , with deductibles ranging from $ 0 to $ 2,500 and reimbursement levels ranging from 70 % to 100 %. MetLife also offers a number of discounts , including a military , veteran and first responder discount and a healthcare worker discount .
The average cost of an emergency veterinary visit is
$ 800 to $ 1,500 .
That price doesn ’ t include surgeries , hospitalizations and other related services . when the unexpected happens
Pet insurance is especially valuable during emergencies . One in three pets will need emergency care each year , and it ’ s not cheap : The average cost of an emergency veterinary visit is $ 800 to $ 1,500 . That price doesn ’ t include surgeries , hospitalizations and other related services .
“ When a beloved pet needs medical attention , the last thing a person wants to worry about is cost ,” Brown said . “ Pets are part of the family . By offering pet insurance as a voluntary benefit , employers can demonstrate that they care about employees and all of their family members .”
In 2022 , MetLife won “ Pet Insurance of the Year ” in the Pet Independent Innovation Awards . The judges praised the company for its coverage for previously covered pre-existing conditions when switching providers and 24 / 7 access to telehealth services .
To get a quote , go to www . metlife . com / getpetquote ( enter “ ProPoint ” in the employer field at the bottom of the form ).
“ Pets are part of the family . By offering pet insurance as a voluntary benefit , employers can demonstrate that they care about employees and all of their family members .”
— Deb Brown , president of Forterra
spring 2023 43