Pet Insurance

Written by Andy Chmiel, VP of Business Development at Medicare.com
Brown Dog Foundation, National Board Officer (Treasurer)

It seems these days you can insure anything. Your hands... if you are a surgeon, your voice... if you’re a singer, and even your back side... if you’re Jennifer (J-Lo) Lopez. As a licensed Insurance agent I was intrigued when this product hit the main stream market a few years back – Pet insurance. A unique way for people to make sure no medical surprise disrupts their pet’s everyday life.

My team of agents reviewed the products and found out that this all started in England with a company named Veterinary Pet Insurance or VPI. Their first pet insurance policy was sold back in 1947. While Pet insurance has been around for quite some time, less than 1% of Americans have taken advantage of this opportunity. As more and more Americans choose to pursue their careers, they want to share their success with a devoted and loyal companion. No, not always a spouse, but four legged and feathered friends too. More and more empty nesters are adopting ‘loved ones’ to care for in their golden years. Americans have never been more poised to spend more time with their beloved pets then right now. These Insurance plans are just what the public needs.

The policies begin at $10-15 a month for a basic plan and grow to $60-80 a month for plans which cover medications, well checks, and surgeries. Monthly premiums will depend on the age, breed and general health of the pet. Some employer groups have offered pet insurance as part of their employee benefit package and a greater number of folks are saying ‘yes’.

Getting a plan might be as easy as calling your current insurance agent but may require getting online and doing some research. Find a plan that will fit your life style and budget but most importantly the needs of your pet.

Your ultimate goal is the health and well being of your family’s best little friend. As a person that plans everything out I am sure that when the right little furry friend enters my life I will weigh the pros and cons and do my own research on insurance. It just makes sense to be a responsible pet owner who prepares for the financial surprises of being a pet owner.

Saving Money on Your Pet's Prescriptions

When a pet is diagnosed with a critical and chronic illness, the cost of prescription medications to provide a good quality of life can break the bank. Today, there are many options available to pet guardians to save money in this area. Your doctor will write a prescription that you can have filled elsewhere. And we recommend that you set up regular monitoring appointments with your Veterinarian if you choose to purchase medications from an outside resource.

Human Pharmacies - a few years back and to meet competitive pricing demands, human pharmacies such as Walgreens, CVS, WalMart, Target and grocery stores, created a $4 list. These drugs can be purchased in 30 day increments costing the purchaser only $4/month. At $4/month - just about any condition can be treated without forcing the family into financial ruin. Kroger has just announced their Pet Pharmacy Program.

Online Suppliers - one needs to be cautious in this arena as not all online suppliers are equal. We recommend FarmVet or Drs. Foster & Smith. For medications that are animal specific or are more expensive than the $4 list, you can often buy in bulk which will result in significant savings.

For those who prefer the alternative medicine route - a good resource is the Dog Owner's Guide: Alternative Medicine. If you decide to go this direction, however, we encourage you to consult a Doctor of Veterinary Medicine who has a certification in Holistic Medicine.