Better than nothing??
Written: Dec 30 '00
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Pros: Routine care coverage, clear benefit schedule
Cons: High premiums, vet charges may exceed the benefit schedule
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| farfelsmom's Full Review: Veterinary Pet Insurance |
I have a 14 year old ebony shorthair. When she was about 6, she developed bladder stones which required surgical removal. The procedure, including the operation, anesthesia, hospitalization and medicine cost me close to $1000. In addition, the vet advised me that this condition frequently recurs, even when the animal is kept on a low ash diet. For this reason, my vet recommended that I check out health insurance for my cat.
At the time, to the best of my knowledge, VPI was the only game in town. Back then, when my cat was relatively young, the premiums seemed reasonable so I signed up. The only plan I was offered was the Gold Plan. I have carried this insurance ever since, although I did upgrade to the Advantage Plus plan when it became available several years ago.
However, the only reason I still have this insurance is because I am too superstitious to drop it. It certainly has not been financially worthwhile. For the current year, I am paying $438 in premiums. This does not include any extras such as the cancer rider or the routine care rider. While these are very attractive, they would push the premiums way too high for me. While I acknowledge that the Advantage Plus plan pays out much more than the Gold plan does, I am also laying out more up front in higher premiums.
In the 8 years that I have had this plan, my cat has had several maladies, including a skin cyst that required surgical removal and numerous bladder infections. In virtually every case, the amount I received in benefits did not seem to justify the premiums. There is always the $40 deductible, and then there is a copay of 20% of eligible charges, up to the first $180. That's another $36. However, there is a benefit schedule, and if the vet charges too much, the out of pocket expenses are that much more. Everything over the allowable amount is denied. Maybe this is a problem for me because I live in an expensive urban area and my vet is very well known.
In any case, when I total up the amount I pay in premiums plus my out of pocket expenses, it has consistently added up to more than I would have spent if I had just paid the entire vet bill without carrying any insurance. For me, it comes down to the fact that I am paying for the insurance protection in case of a catastrophic disease that would run up very large bills for a single illness. The Advantage Plan has a maximum of $4500 per illness and $14000 in total benefits for the policy year. However, for the more run of the mill types of conditions that my cat has developed, this insurance really does not pay.
Recommended:
No
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Epinions.com ID:
farfelsmom
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Reviews written: 1
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