Insuring your pets: Is it worth the cost for peace of mind when it comes to Fluffy or Fido's health?
By Cynthia Hubert - Bee Staff Writer
Published 12:00 am PDT Sunday, October 22, 2006
percent of themarket, insures about 400,000 critters nationwide, said spokesman Nick Kramer. At least six other companies also sell pet insurance, including the ASPCA, which launched its plan earlier this month.
Just like human insurance policies, costs and coverage for pets run the gamut. Premiums generally range from $10 to $50 per month, depending on the
It has been four years since Cheri Christian and her children gathered around their beloved dog Midnight and said goodbye, but the moment haunts her still.
Veterinarians could have saved Midnight, a black Labrador retriever mix who was seriously hurt after he jumped, tethered, from the back of a pickup truck. But Christian simply couldn't afford $2,000 in medical and surgical bills.
"My choice was between feeding my three kids or caring for my dog," recalled Christian, who lives in Carmichael. "It was heartbreaking. Midnight was our best dog ever."
Christian has a new Lab now and a new way of dealing with vet bills. She carries pet insurance. Her dog, Allie, has had her share of skin allergies, ear infections and worse, but the majority of her bills have been covered by the pet policy.
The insurance, which costs about $38 a month with a $50 deductible per accident or illness, has been a bargain for Christian, she said, and has given her peace of mind.
"I really see it as life insurance as well as vet insurance," she said.
But is it worth the investment for most people? Some, including researchers at Consumer Reports, question the value of such policies.
In 2003, the magazine created a fictitious dog and afflicted him with all manner of ailments, then compared the cost of treatment with and without insurance. In most cases, the report found, paying the veterinarian directly was cheaper than forking over premiums, deductibles and other payments associated with insurance plans. Consumer Reports concludes that pet owners are better off skipping pet insurance and setting aside money for future medical bills.
Others strongly disagree.
"Consumer Reports may be great when it comes to giving advice about cars, but they are clueless with regard to their advice about pets," said Gina Spadafori, a nationally syndicated pet columnist and book author who is based in Sacramento.
Spadafori believes in pet insurance and carries it for her dogs, she said. But she has yet to encounter the type of policy that she thinks would best suit most pet owners: one with a low monthly premium and a high deductible, covering only major, costly health problems.
Under Spadafori's ideal plan, people would pay for most routine care for their critters. But should catastrophe strike, their pets would be covered, except for a deductible of up to $1,000 or so.
Spadafori's proposed policy, she said, would be affordable to most people, and would save many from having to inflict "economic euthanasia" on pets that need very expensive care. But so far, she said, no company has taken up her suggestion.
That's just fine with April Pedersen. Pedersen, who lives in Reno and has owned cats, horses and pygmy goats, said pet health insurance is a reflection of society's skewed ideas about animal companions.
"It's a byproduct of the misguided belief that dogs and cats are akin to people and warrant human quality food, clothing, daycare, bedding and medical care," Pedersen said. "People need to know that there's nothing wrong with putting a very ill or injured animal out of its misery."
Like it or not, the pet insurance industry is growing. The nation's largest and oldest pet insurance company, VPI, which controls nearly 80
type and age of pet, amount of deductible, and treatment covered. Some policies cover "routine care" including vaccinations and annual exams; some do not. Some companies refuse to cover congenital and hereditary disorders common in certain breeds, elective measures such as declawing of cats, and unproven therapies. Most pay up to 80 percent of the cost of certain types of care, and have annual limits on the amount they are willing to pay out.
Part of the reason that veterinary care is so costly, one expert said, is because pet owners demand "the gold standard" for their furry family members. Just like medical doctors, vets are more specialized than ever, and their equipment and medicines often are the same as those found in human hospitals.
"People want the best of everything for their pets," said Karl Jandrey, a veterinarian in the small-animal emergency and intensive care units at UC Davis. "The veterinary consumer is driving this kind of medicine."
Critters with heart disease can now get echocardiograms and have pacemakers implanted. Dogs and cats with cancer undergo radiation and chemotherapy treatments. Animals with kidney disease may get dialysis or even transplants. Vets are saving animals that even a few years ago would have died. But the cost of such treatment can be staggering.
Three weeks of radiation to treat cancer in a dog or cat typically costs about $5,000, Jandrey said. If an animal with pneumonia gets placed on a ventilator to help him breathe, the tab could be $10,000 or more. The veterinary center's average intensive care unit bill is more than $3,000.
"Economics is a reality," Jandrey said. "This is something we have to deal with every day.
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