Pet insurance as a workplace perk? Yep – it’s a real thing! According to this week’s press release from Nationwide Insurance, pet health insurance is “quickly becoming one of the most requested voluntary benefits” among employees.
Over 5,500 companies and organizations have added Nationwide® pet insurance to their voluntary benefits portfolio, inclusive of small businesses and companies as large as 100,000+ associates. According to the release, industries offering this perk to pet-loving employees include businesses in technology, healthcare, retail, finance, hospitality, professional sports, “and more.”
Scott Liles, vice president and chief pet insurance officer for Nationwide, commented on the veterinary expenses impacting pet owners:
“According to the American Pet Products Association, pet owners spent nearly $16 billion on veterinary care in 2016. Since 68 percent of Americans own at least one pet, more than two-thirds of employees may be shouldering sizable pet care costs. Pet insurance can help employees offset these veterinary expenses.”
He added:
“With the cost of core benefits on the rise, companies are looking for offerings that can be added to a benefits portfolio at no expense to the employer. Offering pet insurance as a voluntary benefit appeals to prospective pet lovers and helps retain current pet-owning employees.”
To meet the growing demand and to simplify and enhance pet insurance coverage for employees, Nationwide introduced My Pet ProtectionSM earlier this year. With this benefit, employees are able to visit any licensed veterinarian in the world and receive 90 percent reimbursement on eligible veterinary expenses. With one set price for employees regardless of the pet’s age, My Pet Protection covers accidents, illnesses and preventive care (such as vaccinations, flea and tick medication and annual wellness exams).
About Nationwide pet insurance
With more than 600,000 insured pets, pet insurance from Nationwide, formerly known as Veterinary Pet Insurance (VPI), is the first and largest pet health insurance provider in the United States. Since 1982, Nationwide has helped provide pet owners with peace of mind and is committed to being the trusted choice of America’s pet lovers.
Nationwide plans cover dogs, cats, birds and exotic pets for multiple medical problems and conditions relating to accidents, illnesses and injuries. Medical plans are available in all 50 states and the District of Columbia.
Insurance terms, definitions and explanations are intended for informational purposes only and do not in any way replace or modify the definitions and information contained in individual insurance contracts, policies or declaration pages, which are controlling. Such terms and availability may vary by state and exclusions may apply. Underwritten by Veterinary Pet Insurance Company (CA), Brea, CA, an A.M. Best A+ rated company (2016); National Casualty Company (all other states), Columbus, OH, an A.M. Best A+ rated company (2016). Agency of Record: DVM Insurance Agency. Nationwide, the Nationwide N and Eagle, and Nationwide is on your side are service marks of Nationwide Mutual Insurance Company. Pet owners can find Nationwide pet insurance on Facebook or follow on Twitter. For more information about Nationwide pet insurance, call 800-USA-PETS (800-872-7387) or visit petinsurance.com.
(Image via Pixabay)
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