It's no secret, health care costs are rising rapidly, not only for us, but for our beloved pets.  Many of our clients are expressing concern about this trend, and how they can continue to afford the high quality care their pets need.  One question that comes up frequently is the subject medical insurance for pets.

Several companies have offered pet insurance for many years.  In the past, the payouts were too restrictive to make it worthwhile for most pet owners.  But now there are plans that cover much more, and allow your pet to receive the best possible medical care for a wide range of conditions.

Remember, insurance is the one thing you can't purchase AFTER the need arises!  Pet insurance generally won't cover pre-existing conditions.  It's best to put a policy in place while your pet is still young and healthy.

It is most economical to purchase pet insurance that only covers major, unexpected expenses, rather than routine preventive care (such as vaccinations and parasite prevention).  Policies that cover wellness visits cost more than those that just cover major medical expenses.  Some policies have a deductible, just like your own medical insurance.  The higher the deductible, the lower the cost of the insurance.

Currently, there are no "provider restrictions" on pet health insurance.  You will be covered for care at any veterinary hospital or clinic.  Typically, the company will reimburse you for the expenses you incurred for care.  Some policies reimburse you according to a "benefit schedule", while others reimburse based on the actual veterinary bill.  Many benefit schedules leave the client paying a larger portion of the bill, because the schedules are not updated to keep pace with medical inflation rates.

You should not expect to "make your premiums back" in covered expenses, but rather view pet insurance as a financial aid for large, unexpected medical bills.  We view pet insurance as giving peace of mind as well as help paying for needed medical care.  It's important to do your homework researching this subject.  Choose a well known company with a proven track record, and read carefully through all the plans offered.

For more information on pet insurance, visit the website www.PetInsuranceReview.com.  If you would like assistance in estimating your pet's medical costs for various treatments, please call us.   To compare different companies that you are researching, this worksheet may be helpful.