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The Truth About Pet Insurance.
Discover The Truth About Pet Insurance
The Pet Insurers Do Not Want You To Know!
Pet Insurance 101
By Julia Powers
Confused by all of the pet insurance lingo? Here's a quick glossary to get you up to speed on all things pet insurance.
Annual Deductible: The dollar amount of medical expenses that you have to pay before the insurance company pays for your claim. For example, if you cat has surgery and you have a $2,000 deductible, you must pay that amount first before the insurance company pays the remainder. Keep in mind that you only generally only have to meet your deductible once per calendar year.
Benefit: Amount payable by the insurance company to a pet owner when he or she suffers a loss.
Claim: What you as an individual request of the insurance company. Generally this is a request for payment for animal medical services.
Co-pay: The small fee that you have to pay when you arrive at your veterinarian's office.
Exclusions: Some pet insurance policies only cover emergency care or particular veterinarians. Make sure you read the fine print on your policy so that you fully understand the exclusions of your particular brand of pet insurance.
Per Incident Deductible: Some insurance plans require that you pay a per-incident deductible. For example, if your dog is diagnosed with heart disease, you pay that deductible the first time the dog goes into treatment. You do not, however, pay another deductible if further treatment is required for the same incident.
Surcharges: Some pet insurance policies include a surcharge. These surcharges are usually attached to policies that include multiple pets, elderly pets, or previously-ill pets.
Pet insurance isn't as complicated as you may think it is. Although there are many different companies with different plans, the basic idea is the same across the board.
Veterinary pet insurance is known as indemnity insurance. You pay a monthly fee, between $10 and $50 per month. Then you cover the cost of care upfront, file a claim with the insurance company, and receive reimbursement for a portion of the costs within 30 days. Usually you need to pay a deductible first-$50 or more-and then a copayment, usually 10-50 percent. Some companies implement an annual limit for the policy, while others stipulate you can spend a certain amount across the policy's lifetime.
When you sign up for pet insurance you will have a waiting period before coverage starts. The time frame may be different for accidents and illnesses, usually no more than a month. Pet insurance companies do this to ensure people don't get coverage just to make a specific claim.
It's just that simple. In reviewing different companies, look carefully at the list of exclusions. Some companies won't cover pre-existing or hereditary conditions. Also, make sure the provider is licensed in your state so you won't be left with unpaid bills if something happens to them.
Veterinary procedures can be prohibitively expensive, sometimes ranging into to thousands of dollars. Pet health insurance helps shoulder some of the burden. Once you narrow your search down to a few pet insurance providers you'll want to compare them side-by-side to see which offers the most at the best value. Before making the decision, read the fine print for the following:
- How much is the deductible for illnesses and accidents (the portion you need to pay before the pet insurance company will reimburse you)?
- Does the plan allow you to see any veterinarian?
- How long will you need to wait to receive reimbursement after you file a claim?
- How long is the waiting period (the time you need to wait for coverage to kick in after you buy the plan)?
- How much coverage do you have for emergency care-unexpected accidents and illnesses?
- Does the pet insurance plan implement annual caps? This means you're only allowed a certain amount in reimbursements annually, either across the board or for a specific illness.
- Does the company implement a lifetime cap? This means you can only receive a predetermined amount in reimbursements for the plan's lifespan.
- Does the company cover hereditary or congenital diseases? Hereditary conditions are passed down from parents, while congenital conditions are pre-existing at birth but may not have manifested yet. (For example, VPI Pet Insurance excludes these breed-specific hereditary conditions).
- Does the company provide different coverage or charge more for older pets?
- Does the plan have national coverage (if you travel with pets often)?
- Does the plan offer a multi-pet discount (if you have more than one pet)?
If you answer these questions before choosing a plan there won't be any surprises when you file a claim.
Article Source: http://EzineArticles.com/?expert=Julia_Powers Recommended Program Pet Insurance - Don't Leave Or Stay at Home Without It! As dogs and cats enter our lives, we grow extremely attached to them. Should they get sick and need medical attention, we will likely spend substantial sums of money to make them well. These days, pets undergo cataract surgery, chemotherapy, knee surgery, dental procedures almost as routinely as people do. These treatments, while greatly improving our pet's quality of life can be extremely expensive. The last I checked, my healthcare plan didn't provide coverage for my two Jack Russels. As a matter of fact, I've yet to encounter a healthcare plan that does. As a result, pet insurance, a mere cottage industry 20 years ago has grown into a significant industry. If you own or are thinking about expanding your family by adding a dog, cat or any pet at all, you will be well served by purchasing pet insurance. We made the mistake of not carrying such insurance and paid the price many times over. Buy the best dog insurance plan for your best friend so that you will never have to face an ethical dilemma over finances. Dogs can exhibit peculiar behavior indeed. Leave any object at all within range of their paws and jaws and they could well suffer painful consequences. Rocks, balls, string, peach pits, pens, even diapers have all become part of the menu for many unfortunate diners who have acquired an unusual eating habit known as Foreign Body Syndrome. Dogs seem to be the most skillful of all pets when it comes to swallowing objects they most definitely should not. There seems no end to the range of items they can consume. One theory is that this instinctive need in some domestic dogs harbors back to a time when their ancestors would hunt down a good square meal and eat the whole carcass, bones and all. A similar theory is based on a dog's love of chewing, a habit which often leads them to experiment with whatever falls in their path. If they don't spit the object out, then chances are they will probably end up swallowing it. In the eyes of a dog, the stone garden in our yard must appear as a smorgasbord of gastronomic delights. Our older terrier, Molly loved foraging in the garden, but on one fateful day, she returned in a fit of panic. Within a few hours, we took notice of a dramatic change in her condition as her breathing became labored, she grew inactive and ceased moving. This gave us serious concern and we immediately brought her to the veterinarian. We soon discovered that Molly had swallowed 3 fairly large rocks, which became lodged in her intestines and stomach. This required immediate surgery. The best dog insurance plans on the market would have saved us a substantial sum of money, but we had put off this purchase. Don't make the same mistake we did. Once you add a dog to your household, seek out the best dog insurance plan you can afford from among the many providers. You will sleep better at night knowing your pooches are covered, regardless of what may be lurking in their bellies. About the author: Gary Weiss has worked in the financial services industry for over 25 years, specializing in risk management and risk mitigation. For more information about dog insurance please visit my website Article Source: http://EzineArticles.com/?expert=Gary_Weiss Recommended Program Dog Insurance - 7 Points to Consider - Can Pet Insurance Help With My Dog's Healthcare? Dog health care is part of owning a dog. It can be a major expense at times with some procedures being several thousand dollars. But planning ahead can help relieve the burden, just as your own health insurance can help with your doctor bills. Consider health insurance for your dog but when you do consider these 7 items. 1. What's covered? This is the basic question we all ask when looking at insurance. With insurance for your dog, make sure you understand what is covered in the way of accidents versus illnesses. Are routine visits and vaccinations covered and if its an option, is it worth it? I have seen plans where it just financially did not make sense to get the vaccination/well checkup option. Be sure to check the benefits schedule. 2. How are payments made? Once you incur an expense, is the money sent to you or is the payment made directly to the veterinarian's office? If payment is made to the vet directly, does that mean you have to go to certain vets who accept the insurance plan?. 3. What's the turnaround time? How long does it take to get reimbursed for expenses? Ask about their policies and track record. 4. What's a pre-existing condition and how is it handled? If your dog already has a health issue, will it be covered by the policy and what will the waiting period be, if any, before its covered? 5. How much are the deductibles? How much are any deductibles? Is there an out of pocket maximum? 6. When is a condition a single condition? If you dog is treated for a condition and goes back for the same thing, when is that considered a new visit with a new deductible? 7. What about major illnesses? Some companies offer different policy levels to purchase. These more expensive options may add additional coverage for major illness, like cancer. Is this protection worth the added cost? And now I would like to invite you to review a comprehensive list of considerations when getting a new dog by clicking this link http://www.shetland-sheepdog-station.com/puppy-considerations.html David Stewart Article Source: http://EzineArticles.com/?expert=David_Stewart Recommended Program Pet Insurance Benefits Responsible Owners Over the course of history, animals have always played an important part in the daily lives and activities of human beings. Indeed, animals provided our ancestors with the means to survive, from butchering animals to provide fresh meat, to using hides and wool to produce clothing, and even using carved animal bones to create tools. This is still very much the case today. People tend to domesticate animals and ensure that they are properly looked after, and in return the animals provide a sustainable source for the necessities we need to survive. However, today animals have become much more than just a means of survival. In fact, in our modern society, domesticated animals have become another member of the family. For many people, the psychological bond between them and their pet is incredibly strong, and thus they strive to provide the very best food, shelter and care for their animal. Pet owners are investing huge amounts of attention, effort, time and money into caring for their animals, and taking out a pet insurance policy helps to make sure that owners will always be able to afford veterinary bills and other necessary expenses that ensure that their pet has an exceptional quality of life. The Modern Pet Insurance Market Many pet owners want to ensure that they are caring for their pet responsibly, and as such they need to find a way of facing the additional costs which are part of looking after an animal. Unforeseen circumstances such as illness and injury can leave pet owners having to pay very large bills for their pet's medical care. To make sure that they are securely covered, many pet owners have found that taking out a pet insurance policy is a great way of protecting their beloved animal. There are a wide range of different pet insurance policies and services available so owners can be sure that there will be something that meets their needs, requirements and budget. There are general pet insurance policies that cover things such as medical expenses; however, there are also policies that are specially tailored to suit different types of animals. Pet insurance benefits both owners and animals alike: by taking out a pet insurance policy, pet owners are able to rest assured in the security that they will be able to meet any unexpected or expensive costs, and their pet will be able to enjoy the very best quality of life possible. So if you are pet owner, protect both yourself and your beloved pet. Look into getting a pet insurance for your companion. Author: Dr. Robert Sleeter has written several best-selling books about pet health care. He writes regularly on his website about posts like: Pet Insurance For Dogs - Protecting Your Pets And Your Pocket and if you're looking for pet insurance check out his QuickCare Pet Insurance Review. Article Source: http://EzineArticles.com/?expert=Robert_Sleeter Recommended Program The Two Biggest Fears That Veterinarians Have About Pet Insurance To understand why some veterinarians are reluctant to get on the pet insurance bandwagon, you have to look no further than the human medical insurance - healthcare model. The two biggest concerns that they have are: 1) Managed Care Perhaps you don't know exactly what managed care is, but you are probably familiar with terms like PPO, HMO, Medicare, Medicaid, in-network, out-of-network, etc. These are all "buzzwords" for managed care. What are some characteristics of managed care?
Doctors and hospitals generally have a whole department dedicated to filing insurance claims, dealing with insurance company requests, and billing. Veterinarians know that the more time their staffs have to devote to insurance claims, payments, etc., the higher the cost of veterinary services will rise because their overhead expenses will be higher. This will adversely affect pet owners. Fortunately, so far, pet insurance companies have kept the paperwork to a minimum. Your veterinarian may have fill out and sign a claim form for you, but this should only take a couple of minutes. The more pet insurance companies can do to automate the process (limit the time and paperwork involved), the more receptive veterinarians will become to pet insurance. Some companies are already working on ways to automate the claims process as well as submission of medical records when required. So, what veterinarians would like to remain true about pet insurance are the same things that also benefit pet owners:
Dr. Kenney practices small animal medicine and surgery in Memphis, Tennessee. He enjoys teaching pet owners how they can save money on their pet's healthcare expenses by avoiding unnecessary visits to their veterinarian for the treatment of avoidable accidents or illnesses. He also emphasizes the importance of pet owners partnering in a long-term relationship with a veterinarian for wellness care visits intended to keep their pets healthy. Dr. Kenney also has an interest in pet health insurance and how it can be beneficial to pet owners and veterinarians, but most of all pets. He has authored a book, "Your Guide To Understanding Pet Health Insurance" that also includes the companion book, "The Wise Pet Owner" available online at Amazon (http://www.amazon.com/Your-Guide-Understanding-Health-Insurance/dp/0982322100/ref=sr_1_5?ie=UTF8&s=books&qid=1242854554&sr=8-5). He also authors a blog (http://www.petinsuranceguideus.com) where pet owners can keep up to date on the latest news about pet health insurance as well as get advice to help them choose the best company and policy for their pet. Article Source: http://EzineArticles.com/?expert=Doug_Kenney Recommended Program Back To Insurance Contents Back To General Contents ( Home ) Back To The Top |
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