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Pet health insurance part II: why buy pet health insurance?
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In these difficult economic times is pet health insurance an added expense or a well-timed investment? Pet insurance has been around for about twenty-five years. It was originally developed to prevent “economic euthanasia”, meaning a pet was euthanized for financial reasons, often for treatable or preventable conditions. Veterinary medicine has made huge technological advances; pets are now offered what were previously “human” procedures, such as MRIs, CT scans, chemotherapy, and specialized surgeries. With these advances comes increased expenses, both for veterinarians running clinics and clients brining in their pets for treatment.
According to William Craig, DVM, the Chief Medical and Underwriting Director for PurinaCare Pet Health Insurance, the “stop treatment” limit is “the dollar amount at which owners will stop paying for treatment and opt for euthanasia.” The stop treatment limit has not kept pace with the increasing costs of veterinary care. DVM Newsmagazine reports indicate that the stop treatment limit increased about 30% from 2003 to 2006, it dropped from approximately $1450 in 2006 to $1400 in 2009. This recent dip is most likely due to the poor economy. Pet health insurance makes up the gap between the amount of money that owners have readily available to spend and the cost of increasing veterinary bills.
PurinaCare Pet Health Insurance plans can help pet owners maximize the benefits the advances that veterinary medicine has made while minimizing the effects on their budgets.
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