Pet Insurance: Benefits and Pitfalls Dr. Bennett J Porter III Westgate Pet Clinic Minneapolis, MN 55410 612-925-1121 MVMA Annual Meeting February 12, 2011 Disclaimer • I am not affiliated with any pet insurance company • I have no experience in processing insurance claim forms • The information presented was accurate at some point in time, but pet health insurance companies are constantly modifying their policies. • I do not currently purchase pet health insurance for my pets and this clinic does not purchase policies for the staff. • My knowledge about pet health insurance companies is therefore indirect, through reading magazines, books and websites. Overview of Presentation • Facts, Insurance Models, Insurance Regulation & Endorsements and Branding • Definitions & Examples • Client vs. Insurance Company Strategies to manage risk • Review Websites • High-deductible pet insurance policies • Wellness/Dental Coverage Options • Final Advice Facts, Insurance Models, Insurance Regulation & Endorsements and Branding Quick Facts by Negative Perspective • Most clients will not save the money with pet insurance. • No pet insurance policy covers a pre-existing conditions. • When your pet gets sick or old, that is not the time to consider pet insurance. • Dental cleaning is not an accident or an illness. There is only limited coverage with additional riders, wellness riders. • Wellness coverage = Pre-Payment Plan. • An Anterior Cruciate Rupture is considered a pre-existing condition for the other healthy stifle. Quick Facts by Positive Perspective • The clients owning pet insurance are among your very best clients. • Among clients who have pet insurance 88% would recommend to others. • Average pet age at enrollment is increasing. Aug 2010 Vet Econ Quick Facts by Positive Perspective 5% • The 1-2% of your clients owning pet insurance are among your very best clients. • Among clients who have pet insurance 88% would recommend to X X X others. • Average pet age at enrollment is X increasing. Aug 2010 Vet Econ Why Do You Need Pet Insurance? • Managing the risk of having an unhealthy pet (“unlucky pet”) • Prepare for the unexpected, the Peace of Mind Factor • 81% of claims processed by ASPCA Pet Health Insurance are the result of an unexpected accident or illness. • 66% to 80% of dogs experience major health problems over the life of the pet.* • With Pet Insurance, euthanasia is never the only answer • One in three dogs will experience a major emergency in any given year.* Episodes are emotionally and financially draining. • Each year in the US, approximately 6 million dogs and 6 million cats are diagnosed with cancer. *Kealy RD, Lawler DF, Ballam JM, et al. Effects of diet restriction on life span and age-related changes in dogs. J Am Vet Med Assoc 2002; 220; 1315-1320, p 1319. “The Purina Life Study”. Veterinary Costs are Rising • JAVMA analysis that expenditures for veterinary services in real dollars virtually doubled between 1980 and 2005. • Increase was measured in constant dollars, adjusted for inflation. • WHY? • New diagnostic tools • Surgery technologies • Cancer treatment • Referral Centers American Veterinary Medical Association Study 76 percent of pet owners said they would “spend any amount to keep their pets alive” American dog and cat owners spent about $23.2 billion on veterinary care in 2006 Pet Insurance Growth • 20 percent annual growth rate from 2003 to 2007 • Total growth during 2003- 2007 was 107 percent • Companies offering pet insurance has increased from 3 to 11 • Today pets insured in North America = over 1 million Pet Insurance Growth Continued •but this represents only a small 2% means that minority of the total U.S. pet population veterinarians are not • 72 million dogs currently recommending pet • 81 million cats health insurance. • Dr. Karen Felsted of NCVEI: • “The recommendation of a veterinary professional is often a deciding factor for those considering a pet health insurance policy.” Is Insurance for You? Only if you can afford to pay for it up-front!!! • Pet insurance is essentially a reimbursement plan • Contract between the pet owner and the insurance company • Need credit card or savings account with funds available • This has led many to ask, “If I can afford to do that, then why do I need insurance?” • This leaves a large percentage of pet owners who cannot afford to pay a large, Dr. Doug Kenney unexpected veterinary bill out of the loop. petinsuranceguideus.com Click Pic HyperLink Consumer Reports Magazine July 2003/07 & Aug 2010 Only talks about money, not whether better care provided • Pet health costs should be budgeted into your regular and emergency budgets. If it turns out you need the money, you'll have it to use. If you don't need it, that's more money in your pocket, not the insurer's. • If you do decide to buy coverage, we recommend policies that are easy to understand. • If you're considering pet insurance, download a sample policy and its terms and conditions from the insurer's website and read them thoroughly for limitations, exceptions, and co-payments. • We prefer coverage with simple, percentage-based payouts, and no reliance on judgments of what's "reasonable." • Avoid riders for wellness care. • If you plan to use the insurance for catastrophic coverage—say, $1,000 and up—go for the highest deductible you can comfortably afford. Consumer Reports 2010 Trupanion had the lowest premiums and also the highest reimbursements. Reason One: Unlucky Pet Risk • The pet owner with an "average pet" is reimbursed for pet insurance claims that may range from 30% to 100% of the lifetime • The most compelling financial reason to purchase pet insurance is because a pet owner may have an "unlucky pet". An unlucky pet requires more veterinary medical treatment than the "average" insured pet. Reason Two: Click Pic HyperLink Peace of Mind • “Insurance is a valuable tool to foster a higher quality of pet care, with less price resistance on the part of the client. With cost concerns removed, clients become more engaged and more responsive.” • “Insurance can help the veterinarian unflinchingly recommend the best course of treatment for the pet regardless of cost, and to practice the quality of care to which all veterinarians aspire.” • “Insurance can provide comfort and reassurance to the pet owner, knowing that the best medicine is available … for the pet.” Is Insurance for You? If the answer is NO, there are other options for unforeseen pet medical expenses. • Westgate Pet Clinic accepts payment through CareCredit and Chase Health Financing. • Apply for financing online, with typical interest free options for 3 to 6 months. • High interest rates occur if the payment agreements are not followed. Click Pic HyperLink Insurance Models at a Glance • HMOs Health Maintenance Organizations (Human) • Leveraging a large group to pay for health costs of sick individuals • PPOs Preferred Provider Organization (Human) • Costs are negotiated with health care providers up front • Loss/savings are passed on the network members/patients • Traditional Indemnity Model (Pet) • Client pays veterinarian then seeks reimbursement through their insurance company • A fee-for-service insurance, similar to auto or homeowner policies. • Pay a portion of the costs incurred as specified by the policy • Continuity in coverage does NOT limit pre-existing conditions if change policies, or company declares bankruptcy. Click Pic HyperLink Pet Insurance Regulation • Insurer vs. Surplus Lines Insurer • Insurers are licensed on a state by state basis in the United States. Each state has a Department of Insurance (or similar regulatory body) that regulates these insurers: • First, the regulators monitor the finances and market conduct of the insurers to see that they are financially sound and using fair and honest business practices. • Second, they regulate or approve the insurer's policy forms (the actual content of the policies) or the insurer's rates, or both. • These insurers contribute to a state fund, called a guaranty fund, that is used to pay claims if any of these licensed insurers were to fail (go bankrupt). • Surplus Lines Insurers generally choose to operate on an unlicensed, surplus line basis (personal basis). If they were to fail (go bankrupt), there is no guaranty fund protection for you. RLI Insurance Pet Insurance Regulation Regulated by individual STATE Insurance Departments • Each company policy must be individually approved and registered in a state before it can be sold in that state. Locally Regulated. • Minnesota Dept of Commerce Insurance Gateway has no information about pet insurance for consumers. • The Minnesota Department of Commerce Consumer Response Team (CRT): • respond to consumer phone calls specifically about insurance. • attempts to resolve disputes between consumers and the insurance industry informally. • (651) 296-2488 or statewide toll free at 800-657-3602 Endorsements and Branding Do consumers/veterinarians feel more comfortable with an insurance policy based on image or affiliation? Click Pic HyperLink Click Pic HyperLink Click Pic HyperLink Click Pic HyperLink Click Pic HyperLink Click Pic HyperLink Click Pic HyperLink Click Pic HyperLink Click Pic HyperLink Click Pic HyperLink Brand Confusion Name similarity confuses everyone Click Pic HyperLink Has the following Partnerships: Has the following Partnerships: Click Pic HyperLink Click Pic HyperLink Definitions & Examples Pet Insurance Lingo: The Deductible • The amount the pet owner is responsible, before the company pays anything. • TYPES: • Per-incident Deductible: the amount you pay each time a new condition is treated during that policy. • Annual Deductible: the amount you pay each year. • Deductibles range from $0 to $1000. • The higher the deductible, the lower the premium. • A pet with a per-incident deductible could have much higher out of pocket costs than an annual deductible. How to compare premium cost is difficult!!!!! Pet Insurance Lingo: The Incident • Annual deductibles by definition have no incidents • An „incident‟ is: • One specific episode of illness (Almost All). • One specific illness over the lifetime of the policy. • One company further defines a each incident by associating with 1 of 12 locations of the body: ears, eyes, skin, endocrine, digestive, nervous, musculoskeletal, infectious, Cardiovascular/respiratory, blood/lymphoid, urogenital, cancer. Accidents are a separate rider. • Reimbursements on a particular incident may be excluded after the current policy period (become pre-existing). Pet Insurance Lingo: Annual/Lifetime Maximum vs. Per-Incident Maximum • If your policy had a $11,000 annual limit and a $1,500 per-incident limit, the company would pay out up to $1,500 for each incident. Then remaining $9,500 could be used during the year for other accidents or illnesses • If you have a policy with a company that has a per-incident limit, get the highest per-incident limit that you can afford • Policies vary tremendously: • Annual Maximum but no Per-Incident Maximum but Per-Incident Deductible • Annual Maximum and Per-Incident Maximum and Per-Incident Deductible • Lifetime Maximum, no Annual Maximum with Per-Incident Maximum • Annual Maximum and Lifetime Maximum with Per-Incident Deductible • Annual Maximum and Lifetime Maximum with Annual Deductible • Annual Maximum but no Lifetime Maximum and no Incident Maximum • No Incident, Annual or Lifetime Maximum Pet Insurance Lingo: The Co-Pay • Amount of the total bill owed by the pet owner • Range form 0% to 40% • 0% copay • The deductible and the Annual Maximum are known numbers, but the Co-Pay total owed is just a percentage of the total bill and therefore is an unknown number • Lower co-pay equals higher premium • Consider 0% Co-Pay and a high but known deductible to keep all costs easily understood Co-Pay and Deductible Example $3000 Bill (assuming everything on bill is covered) • $100 deductible and 10% co-pay policy Co-pay = $3000 - $100 = $2900 x 10% = $290 You pay $100 (deductible) + $290 (co-pay) = $390 • $100 deductible and 35% co-pay policy Co-pay = $2900 x 35% = $1015 You pay $100 (deductible) + $1015 (co-pay) = $1115 • $500 deductible and 10% co-pay policy Co-pay = $2500 x 10% = $250 You pay $500 (deductible) + $250 (co-pay) = $750 $3.95 Excel Spreadsheet at • $1000 deductible and 0% co-pay policy www.petinsuranceguideus.com You pay $1000 (deductible) + $0 (co-pay) = $1000 Strategies to manage risk: How Clients Manage Risk Some clients manage the risk by purchasing pet insurance, But each client needs will differ: • Decide on Incident or Annual Deductible • Decide on amount of deductible • Decide on level of incident/annual/lifetime maximums • Since no prediction on which health risks our pet will eventually face choose a policy that has few and easy to understand limitations • Compare pricing last Insurance Companies must manage Risk Companies manage the risk to keep payouts in line with revenue, But each company runs their company with differently: • Increase Premiums as the pet ages • Benefits Schedules define how much to pay out Primary vs 2ndary • Set Incident, Annual or Lifetime Limits to reimbursement • No coverage on Breed Specific or Hereditary Conditions • Enrollment limited to younger aged pets • Pre-existing Conditions Excluded (The most common reason a claim is denied.) • Exclude various less common veterinary services like behavior problems, pregnancy issues and breeding issues • Exclude Cosmetic procedures like tail docking, declaw, ear crops • Exclude diseases like Parvovirus that are preventable by vaccinations Tactics to manage risk Continued • Diagnosis becomes pre-existing in subsequent policy years • Increase Premiums or cancel Insurance based on claims experience. • Healthy Paws, Embrace and Trupanion state would absolutely never do this. • Certain breeds or groups of breeds are charged higher premiums. • Separate riders for cancer coverage, dental, emergency, hip dysplasia, chronic illness, medications. • Pre-certification for certain conditions, like hip dysplasia Tactics to manage risk – Example 1 Increase premiums as pet ages Never Increase Premium with Age: Tactics to manage risk – Example 1 Level Premiums or Age Based Premiums • Level premiums throughout the life of a pet means, the reimbursements in the early years of the policy are less than the premiums collected • This frontloading of the policy allows money to be set aside insurance companies to invest and be more profitable • Clients may like to pay less during the early years of a policy when the pet is healthier, and understand that as the pet ages the cost of insurance in more since there are more health concerns. (Similar to human health insurance). • OR Clients may hate the idea of paying pet health premiums but continue because they know their premiums will only increase with the cost of veterinary care and inflation.. Tactics to manage risk – Example 1 Level Premiums or Age Based Premiums - Continued • PurinaCare adjusts every year • PetPlan has 10 age adjustments • VPI has 14 age adjustments Pet Health Premiums 140 120 100 80 Stable Premiums 60 Age-based Premiums 40 20 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Tactics to manage risk – Example 2 Reimbursement Methods Whatever the veterinarian charges Benefits Schedule Geographic based reasonable and customary A B C Company Invoice Benefit Regional Based Schedule Customary Pets Best Yes ASPCA Yes PetsHealth Yes AKC Yes PetFirst Yes Embrace Yes PetPlan Yes VPI Yes PetCare/ShelterCare/24PetWatch Yes Trupanion Yes Healthy Paws Yes PurinaCare Yes Tactics to manage risk – Example 2 Comments on Benefit Schedule Method • VPI benefit schedules are publicly available and are filed with the Department of Insurance, ensuring that each step of the claims process is fully transparent. • This type of reimbursement may be most beneficial for rural settings where cost of all services including veterinary medicine would be more affordable. • The cost of this type of policy is very affordable, but benefits also are less than others. Tactics to manage risk – Example 2 Comments on Geographic Customary Method • The amount reimbursed is determined by the company reviewing the claim submission. • At point of care impossible to determine out of pocket costs. • Process hidden with no published documents. • Declined to participate in a „Sample Invoices and Reimbursement‟ on accident and illness coverage in Dr. Kenney‟s Pet Insurance Book. Tactics to manage risk – Example 3 Incident, Annual or Lifetime Limits Annual Lifetime Company Policy Name Incident Max Max Max 24PetWatch/ShelterCare * QuickCare Gold $3,000 none $3000/$36,000 24PetWatch/ShelterCare * QuickCare Complete $5,000 none $5000/$60,000 AKC Essential $1,500 $11,000 ASPCA/PetsHealth Primary $1,500 $8,000 PetsFirst Basic $1,500 $7,500 PetsFirst Senior $2,000 $2,000 ASPCA/PetsHealth Safety $2,500 $8,000 ASPCA/PetsHealth Sterling $2,500 $13,000 * 24PetWatch/ShelterCare describes incidents by body location, not specific diagnosis. Incident Maximums refer individually to ears, eyes, skin, endocrine, digestive, nervous system, musculoskeletal, Cardiovascular/respiratory, blood/lymphoid, urogenital, cancer, infectious. Accidents are considered separately and are not prescribed to body location. Tactics to manage risk – Example 3 Incident, Annual or Lifetime Limits Annual Lifetime Company Policy Name Incident Max Max Max PetsFirst Preferred $2,500 $12,000 PetsBest Basic $2,500 None $42,500 AKC Essential Plus $3,000 $11,000 ASPCA/PetsHealth Advantage $3,500 $11,000 PetsFirst Preferred Plus $3,500 $15,000 AKC Wellness $5,000 $13,000 AKC Wellness Plus $5,000 $13,000 ASPCA/PetsHealth Premier $5,000 $13,000 PetsBest Pets First $7,000 None $100,000 PetsBest Pets Premier $14,000 None $100,000 Tactics to manage risk – Example 3 Incident, Annual or Lifetime Limits Annual Lifetime Company Policy Name Incident Max Max Max Embrace Budget none $5,000 VPI Medical none $7,000 PetPlan Bronze none $8,000 Embrace Everyday and Complete none $10,000 PetPlan Silver none $12,000 VPI Major Medical none $14,000 VPI Injury none $14,000 PetPlan Gold none $20,000 PurinaCare none $20,000 Healthy Paws none none $25,000 Trupanion None none none Tactics to manage risk – Example 3 Incident, Annual or Lifetime Limits • “If you end up purchasing a policy from a company that has a per- incident limit, get the highest per-incident limit that you can afford.” • “An annual maximum or annual deductible is preferable to a per- incident maximum or per-incident deductible because „per-incident‟ is simply an additional limit on how much the insurance company will pay out for an accident or illness.” • Dr. Porter believes a policy with less than a $7000 per-incident maximum should never be selected. Tactics to manage risk – Example 4 Hereditary Conditions Limits Click Pic HyperLink • At Embrace Pet and Trupanion there is an excellent guide to help you understand the most common risks Click Pic HyperLink with your pet‟s breed. • Hereditary conditions may be covered, partially covered or denied coverage depending on the company guidelines. • I believe this is the most important reason for getting an insurance policy Tactics to manage risk – Example 4 Hereditary Conditions Limits • Full Hereditary Coverage • Full Hereditary Coverage except Hip Dysplasia • Limit Hereditary Coverage to purchase before age 2, coverage is less and differs from annual limits $500 To $2500 Lifetime Limits Depending on PetsBest Plan • Limit Hereditary Coverage to purchase before age 1, $250 Diagnosis and $500 Surgery per year. No lifetime limits, renews yearly. • Must add Riders for Hereditary Coverage (Not included with initial quotes, not advertised?) • No hereditary Coverage Tactics to manage risk – Example 4 Hereditary Conditions risk and definition of Pre-existing Condition Varies • Healthy Pet: “What matters most is that, as long as the clinical symptoms are not present prior to enrollment or during the waiting period, we cover hereditary and congenital conditions so you can rest assured you're protected financially and can give your pet the quality medical care they deserve.” • Petplan: “covers all hereditary and congenital conditions, so long as clinical signs were not present prior to the commencement of the policy or during the waiting periods.” • Trupanion: “Illness resulting from any condition for which evidence and/or symptoms of their potential manifestation already exist at, or 18 months prior to, the policy enrollment date” • Pets Best: “Any illness or injury that begins before your policy is effective, or during your waiting period, will be considered “pre-existing”. Even if your pet had no signs or symptoms and wasn‟t diagnosed, some conditions can still be considered pre-existing.” (No congential coverage). Tactics to manage risk – Example 5 Company specific tactics that aren’t easily categorized • Must pay for all office calls. • Penalized with surcharges or premium increases based on number of claims filed. • No claim for multiple incidents (more than one) of foreign object ingestion in a 12 month period. • Deny Coverage for Hit By Car Injury because pet was not spayed. • Missed Premium cancels policy, reinstatement with payment of missed premiums. But still no coverage for new pre-existing conditions • Prescription Drug Coverage a separate rider. including antibiotics, pain relief, allergy meds, insulin & supplies, eye & ear drops. Tactics to manage risk – Example 5 Company specific alterations that aren’t easily categorized • Excludes Hip Dysplasia coverage, unless started prior to 1 year with additional rider • Chronic Conditions considered single incident • Wellness benefits included in a single annual deductible • Wellness benefits automatic but $50 per incident co-pay • Excludes osteoarthritis • Denies claims based on slow filing but still within policy period • Denied if filed greater than 180 days from first Treatment • Different reimbursement for Emergency/Referral Care (30% co-pay) Tactics to manage risk – Example 6 Policies Available Online prior to purchase • Trupanion • Purina Care • Embrace • VPI • Pets Best • Healthy Paws • ASPCA • AKC Never found for 24PetWatch/ShelterCare Tactics to manage risk – Example 7 less restrictions = less administrative costs “Newer companies have attempted to simplify the reimbursement process so that it is more understandable for veterinarians and pet owners alike. At this time, it remains to be seen if these newer companies can stay competitive (keep their premiums affordable) while taking this new approach.” PetInsuranceReview.com • PetInsuranceReview's goal is to assist pet owners who are shopping for pet insurance. We believe that by providing information on benefits, pricing and customer reviews, we can help pet owners make the appropriate decision for themselves and their pets. • This website is not owned or controlled by any pet insurance company. • The user reviews are opinions submitted by customers of various pet insurance companies and do not reflect the opinion of the operator of this website. The profiles of the pet insurance companies are accurate to the best of our knowledge and are updated on a monthly basis. • Individual submissions with a rating of 1 to 10. PetInsuranceReview.com Will the ‘real’ review site stand up! Petinsurancereviewer.com Cheapestpetinsurancereviews.com Petinsurancereviews.org Thepetinsurancereview.com Petinsurancefinder.com Each site claims to Pet-insurance-review.com review pet insurance, but only one is free of advertising, free of Bestpetinsurance..com outside influence and has actual customer comments Mypetinsured.com PetInsuranceReview.com Average Rating PurinaCare Embrace Pet First Pet Plan Trupanion Pet Health Pet Healthcare US Pet Insurance Insurance Insurance 8.4 9.2 8.1 9.3 8.6 Veterinary Healthy AKC Pet Pets Best Pet Health Hartville Pet Paws Heath Plan Insurance Insurance Pet Insurance (6/2010) Insurance 7.2 10.0 4.4 8.2 4.3 7.3 January 2011 Average 7.5 PetInsuranceReview.com Average Rating • Most companies appear to get lower ratings because clients do not understand what they have purchased. • Fault of client for not understanding • Fault of Insurance company for not explaining • Occasionally companies appear to get lower ratings because they offer poor customer service, deny claims based on what the client believes is a technicality related to a pre-existing condition. Understand what you are purchasing and avoid companies that don’t meet your standards AAHA Seal of Acceptance for high-deductible policies • These high deductible policies must be equal or better than all other offered policies • Underwritten by A.M. Best Rating of B+ or higher • Sell these high deductible policies in all states licensed • Allow client to seek care from any licensed veterinarian • These high-deductible policies will receive the AAHA Seal of Acceptance, not the companies themselves AAHA accepted high-deductible pet insurance policies • AAHA is the American Animal Hospital Association, the only organization that accredits animal hospitals Click Pic HyperLink throughout the U.S. and Canada. • AAHA believes that most pet owners need coverage for catastrophic expenses. • Studies have shown that the majority of pet owners can manage expenses between $500 and $1,000, but would have difficulty with expenses beyond that level. Deductible & Co-Pay Pet Health Plans Balancing the needs and wants of the consumer Company Per-Incident Deductible Annual Deductible Co-Pay 24PetWatch/ShelterCare $50, $100 10%, 30% 0%, 10%, 20% PetPlan $50, $100, $200, ($500?) 30% for Emerg. VPI $0, $500, $1000 0% Trupanion $0 to $1000 + Office Calls 10% Embrace $100, $200, $500 10%, 20%, 30% PurinaCare $100, $250, $500, $1000 20%, 30%, 40% AKC $125 20% ASPCA/PetsHealth $100 20% PetsFirst $50 10% most, 20% Office Calls+ Healthy Paws $50, $100, $250, $500 10%, 20%, 30% PetsBest $100, $250, $500 20% Wellness Coverage Appropriate only with thoughtful review • covering routine daily healthcare issues is not cost effective for the pet owner • Insuring for the routine is a pre-payment plan, not true insurance • PurinaCare offers a unique approach to including wellness visits: • Defined amounts for wellness services are included in calculating the annual deductible. Wellness Coverage Appropriate only with thoughtful review Wellness Coverage PurinaCare PetsBest Embrace Per Month $5-$13 $22 $14.95 Annual Limit No Limit $480 $200 Annual Policy Deductible $250-$1000 after Deductible Co-pay 20%,30%,40% No Deductible No Deductible Includes Heartworm/Flea Meds $56-$75 $25 $50 Includes Vaccinations $150 including Physical $65 $200 Includes Teeth Cleaning $150-$200 $100 Now separate rider Includes Lab tests Yes Yes Yes $200 Includes Fecal and Meds $30-$40 $15 Includes Hw Test $30-$40 $25 Includes Urine analysis $26-$35 $25 Includes Annual Wellness $56-$75 $60 Typical Dog TOTAL BENEFIT $380 minus deductible $300 $200 TOTAL COST for 1 year $60-$156 $264 $179.40 Most companies hide the cost of wellness coverage within the general policy, making it difficult to determine the true value of the premium. Pets Best option to cancel Basic or First plans if Wellness cancelled. Dental Benefits • Embrace Dental Rewards Plan premiums $299/yr. Max Benefit $400 • ASPCA states coverage of dentals for level 4 only • Policy states no coverage for Preventive care or routine check-ups including but not limited to pre-surgical tests or procedures, dental cleaning or scaling except as listed above; (one annual Dental Prophylaxis (cleaning) with pre-operative blood profile, no mention of anesthesia, pain meds, catheter support). Premium $88/mo • Purina Care with Preventative Care • Maximum claim of $250 for entire procedure (payout max of 60% or $150) once deductible is met. • Pets Best with Preventative Care • Maximum claim $100. • Healthy Paws Insurance • No Dental health care, however if injury to teeth is caused by an accident, we do cover the cost of extractions of damaged teeth and of reconstruction of upper and lower canine teeth . Monthly Premiums for Cats Vary widely by company and don’t appear to match previously described risk factors VS. benefits Monthly Premium Company Comparison 24PetWatch/ShelterCare $27.95 PetPlan $14.88 VPI $42.47 Trupanion $21.38 Embrace $47.83 PurinaCare $10.41 to $15.21 AKC ??? ASPCA/PetsHealth $23.07 PetsFirst $83.70 PetsBest $59.10 Final Recommendations • Buy and read this book, on eBay and get the Excel spreadsheet on comparing cost of individual plans. • Remind clients that pet insurance is not about saving money, it is about the risk of caring for the “unlucky pet”. • AAHA Client Guide „Ensuring Your Pet‟s Health‟ • Have copies of actual sample policies on hand for www.petinsuranceguideus.com clients to review. • Recommend two to three options for your clients, each with clearly understand criteria and high satisfaction ratings. • Educate your staff about pet insurance. • www.petinsurancereview.com/ • www.petinsuranceguideus.com/ • www.trupanion.com/ Click Pic HyperLink What would you do, Dr. Porter? • Reimbursements by veterinary invoice and has annual deductible instead of per-incident deductible. • Has Per-Incident Limits >=$7000 Limits. Do not choose BASIC policy, with limit of $2500. What would you do, Dr. Porter? • Full Coverage for Hereditary Conditions. • Chronic disease coverage renews completely each year up to Annual/Lifetime Maximum. • Reduce long-term cost lifetime of premiums but have coverage. What would you do, Dr. Porter? • Meets the High Deductible Policy Standards of the AAHA, in business >3yrs, annual deductible, full coverage for Hereditary Conditions and have a superior customer rating at petinsurancereview.com • Meets the High Deductible Policy Standards of the AAHA, in business >3yrs, pre-incident deductible, full coverage for Hereditary Conditions and have a superior customer rating at Co-pays are always 30% with referral or emergency petinsurancereview.com clinics, regardless of the co-pay on the policy. Offers 0% Co-pay No hip dysplasia coverage No Reimbursements Maximums. Visit www.wagsandwhiskers.com for More Information about Your Pet’s Best Care. • Online Appointment Scheduling • Up-to-date information about current health reminders • Online refills of prescription medications and prescription foods Westgate • AAHA-accredited hospitals Pet Clinic voluntarily choose to be evaluated is on 900 standards in the following areas: quality of care; diagnostic & American Animal pharmacy; management; medical records; and facility. Hospital Association Accredited • The Standards developed and published by AAHA are widely accepted as representing those components of veterinary practice that represent high quality care. The Standards are periodically reviewed and updated to ensure that they remain consistent with evolving knowledge and technology.