Tuesday, August 25, 2015

Obamacare for your pet?

Taking Fido or Whiskers to the doc isn’t cheap. My experience is that it can easily run $500 for dogs and $250 for cats. And it’s not only us here in the U.S. who gets hit with high vet fees. Over in the UK they’re feeling it too. The difference is that their insurance companies have taken notice.

Around 25 percent of dogs and cats in the UK are insured. In the U.S., the number is less than 5 percent.

But the country noted for Vikings, Swedish meatballs, reindeer, and swimsuit models is by far the leader. The first pet insurance policy was sold in Sweden in 1924. Now about 50 percent of their pets are covered.

Will President Obama push to include pets within the Affordable Care Act? He’s having enough trouble with Congress as it is. So I doubt it. Still, anything is possible in Washington. 

Meanwhile, I expect more companies to see the opportunity here and jump on the pet insurance bandwagon. You might ask your agent for a recommendation before scheduling your pet’s next vet visit. 

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