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Does Your Employer Offer Pet Insurance?

You may not think of pet insurance when you start thinking about employee benefits. But it’s possible that you should!

Yahoo! News ran a feature noting that many employers actually do offer pet insurance. This may be kind of surprising in a world where it seems as though many employers are reluctant to offer human health insurance, but it happens. Yahoo! reports that 1 in 3 Fortune 500 offer pet insurance through the largest pet insurance carrier, and 3400 additional companies do the same.

Pet insurance can definitely be a good purchase. Some chronic conditions can cost become extremely expensive monthly bills. And emergency surgery isn’t cheap, either.

Chipotle pays $10 per pet for up to three pets. One pet costs between $10 and $57 a month, depending on coverage plans and deductibles. VPI adds a 5 percent to 15 percent discount, depending on the number of animals insured.

The insurance covered 60% of the cost of surgery after an employee’s dog jumped out of a pick-up truck and broke its leg. Another employee saved 70 percent of the cost for knee surgery for her dog, said Chipotle’s benefits analyst Lindsey Cushman.

“She probably would have had it done anyway but it would have cost her a significant financial hardship,” she added.

Cushman enrolled her cat, Delilah in the program as soon as she was hired full time.

With the cost of health care for humans and pets rising faster than income, pet insurance is relatively affordable, Sebaski said.

If your employer does not offer pet insurance you can still buy plans from VPI or ASPCA directly. VPI’s home page quotes emergency plans at $10 to $11 per month.

Would you purchase pet health insurance for your furry friend? Let us know in the comments below!

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