At the same time that people are buying their own health plans, they are also looking into coverage for their animals.
Although the health care reform has been in the headlines over the last little while, there has been a broader trend that has been affecting members of the family who don’t happen to be human, as pet insurance has been expanding across the United States.
Pet health insurance is growing among individuals as well as among employers who want to attract talent with more benefits.
There are a number of reasons that have been identified to help to explain why this coverage has taken off and is continue to explode at a rapidly increasing rate. This is especially true among companies that are offering pet insurance among their employee benefits. As a result of the Patient Protection and Affordable Care Act, many employers have been looking through what they have to offer their employees and are seeking out news ways to add value while keeping the cost affordable.
Pet insurance is becoming popular among employers because it helps to boost their competition for talent.
As a large percentage of employees have pets, it makes an employer more attractive to them when they are offered dog or cat health insurance coverage. When competing for skilled and talented workers, this type of offering can make the difference in the appeal that an employer has to those individuals.
According to the VPI Pet Insurance director of group accounts, Deanna Single, “The headline is exploding growth.” She went on to add that “The Affordable Care Act, with its implementation this year, has companies looking more and more at their benefits and seeing they’re open to pet insurance.”
Employers aren’t the only ones who are showing interest in this coverage. Workers have also been expressing the appeal. Human resources departments are taking greater care to promote available benefits, and following the health care reforms, employers are now see an opportunity to make sure that they are offering appropriate coverage for all of the various parts of a person’s life that are most important to them.