Human vs Pet Health Insurance

When thinking about purchasing pet insurance, it’s often confusing to determine the differences between what human health insurance is and what is offered when you invest in pet health insurance.

Of course, both industries have their pros and cons, just like any other business model, which unfortunately, that’s what health care is. No matter who or what the patient is, the health insurance industry is a business with the primary goal of making a profit.

However, there are many differences between our current human health care system and the pet health insurance industry, as it is in its current format.

Let’s take a look at the human health insurance business model, since that is the one that most of us are familiar with. Most health insurance companies fall under the managed care system, meaning they are either part of the HMO or PPO network. With that comes a certain set of rules and limitations for their patients:

• Health care providers (doctors, dentists, hospitals, pharmacies, etc.) must choose and join a network.
• Each network negotiates a discounted rate for the health care providers in exchange for patients in that network.
• Providers must deal with many levels of bureaucracy just to receive payment for their services. It can take weeks or months for claims to be billed and paid.
• The insurance company or the network, instead of the physician, has power over some decisions regarding health care and certain procedures, which can be detrimental to the health care of humans.

While the human health insurance industry often leaves much to be desired and has been the subject of heated discussion in current events, the pet industry has thus far been spared from these challenges. Here are some considerations when thinking about the pet health insurance industry.

The top 10 things pet parents look for when purchasing pet health insurance is:

1. Choose their own veterinarian
2. Easy to understand policies that offer high reimbursements and low monthly costs
3. Quick claim payment and processing with no hassles
4. The option to have wellness procedures covered
5. Minimal exclusions and limitations

The top 5 things veterinarians want from a pet health insurance company is:

1. The ability for clients and treating doctor to determine level of care – not the insurance company.
2. Minimal paperwork when filing claims
3. No scheduled fees or benefits limiting, dictating, or implying what to charge.
4. Client can choose to take their pets anywhere they want for health care, including specialists without any exclusion.
5. Not having to turn away a client due to the type of coverage they have for their pet.

The reason pet health insurance is still so open to opportunities that provide a relatively high level of freedom for both pet parents and their health providers is because pet insurances are not yet well enough established to form managed networks, the way human health insurance companies have done.

In order to keep things the way they are, more people need to support the pet health insurance industry and more importantly, speak out against any organizational attempts that would interfere with the level of care provided to pets, and/or the level of service offered to clients and veterinarians. To view a comprehensive list of pet health insurance companies, please visit our Providers Page.