Us pet health insurance

Vets have access to increasingly sophisticated and costly diagnostic tools such as MRIs. Such screenings not only boost the cost of exams but often detect problems that once would have gone unnoticed, and untreated. Pre-existing problems and hereditary conditions, such as hip dysplasia in German Shepherds and retrievers, are normally excluded. The oldest company, Veterinary Pet Insurance, has seen its revenues climb at a 40% annual rate since 1997 -- the year it finally broke even after 15 straight years of losses, according to founder Jack Stephens. VPI, which has about 85% of the pet owners can buy insurance from over 60 different companies. In the U.S. there are 5 main players: PetHealth, Veterinary Pet Insurance, Pet Protect, Pet Assure, and Hartville Group. The U.S. market for pet insurance has existed for decades. However, a change in market strategy has finally started to penetrate this market as pet insurance companies move from having veterinarians sell insurance to advertising insurance directly to consumers. What’s changed in recent years is the state of veterinary science, as well as the economics of running a veterinary practice. Vets today can offer treatments that were unheard of just a few years ago -- and at prices that could make you howl. Consider: Treatments once reserved for humans, from radiation therapy to kidney transplants, are currently available for pets. That means once-fatal conditions are now treatable at costs ranging from $1,000 to $5,000 or more. These expensive tools and procedures have helped create health-care inflation in the pet insurance industry. American Demographics magazine estimates that 5% of American pet owners have the insurance, up from less than 1% in 1995. Insurers have teamed with the American Kennel Club and Petco Animal Supplies to offer the insurance, while several major employers now provide the coverage as an optional employee benefit. The older your animal, the more you’ll have to shell out in premiums. Some insurers don’t cover pets older than 9, while others levy a stiff surcharge. "It's great to see so many companies recognize the importance of adding new benefits like pet insurance for their. U pe halth nsurance - js pdt heqlth insudance.