Do you have a pet, or have employees with pets? I bet the answer is yes. It is true, pet insurance may be silly to discuss for some, but it is becoming something desired more and more by employers and employees. (You may yourself be laughing as you read this, but I’ve been laughed at before and I’m not afraid to have some fun!) Many large companies already include pet insurance in their benefits program, yet others aren’t aware of how easy it is to include it themselves. At the end of the day, don’t you want to do what you can to provide your employees the highest level of care you can possibly afford?
Pet insurance has been around for a long time and for many of us with pets, you either believe in it or you don’t. Either way, having the option at a reduced cost is a value in itself. Like most insurance, you pay a premium in hopes to never actually use it, but for peace of mind. Car insurance, homeowners insurance, and your own health insurance are just a few examples. Like these, pet insurance typically covers the unexpected. Specifically, pet insurance covers the unexpected illness and/or injuries of your dog or cat. It frees you from financial stress when choosing the best available care for your pet. There are various pet insurance carriers to choose from with various coverage options. Like with any insurance, please be informed of what is included and excluded for coverage.
In our research, we have found a pet insurance company who will offer coverage to employees as an employer offered program. There is no cost to the employer, the employees will save on their pet’s individual pet insurance premium, and the employees can be billed directly. All it takes is one employee to take a plan for it to be considered group coverage. Your company simply needs to set it up with the carrier, provide direction to their website, and the carrier will handle the rest from there. The premiums are generated based on the age of the dog or cat, the breed, and zip code. Deductibles vary by choice, but the savings on premium could be enough to offset the deductible. For example, if the plan offers a 10% discount through an employer, it could save someone $50 on a premium of $500.
In short, pet insurance isn’t for everyone, but it’s vitally important to those who choose to have it. You might be surprised how much your employees value this option! Take a chance and add this to your portfolio of benefits to help recruit and maintain a vibrant workforce. And please, do your research on which pet insurance company to work with before offering this creative program. Feel free to contact a member of the Benefits team at Hausmann-Johnson Insurance for more information.
Next up, how about providing the option to offer voluntary identity theft coverage to your employees in a similar manner? Well, we’ll have to save that discussion for another day…
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