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Pet Insurance
Benefits & Compensation
Pet Insurance
Exchange ideas about health plans, retirement, work/life benefits, and employee assistance.
Has anyone offered pet insurance as an employee benefit or negotiated discounts? I am looking for a reputable pet insurance company.
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Forums » Topic Forums » Benefits & Compensation » Pet Insurance
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Pet Insurance
posted at 5/18/2011 7:11 AM EDT
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Posts: 1771
First: 10/24/2002 Last: 9/14/2011 |
Wow, cynths, such hostility! Our simple attempts at humour are way preferable to your rudeness! You really need to check your ego and take yourself a little less seriously.
And BTW, I see nothing "political" in my advice to you about Blue Cross, nor do I see anything offensive in my question about why your employer is doing this in the current economic environment. Maybe you need to read a little more carefully before you start slamming the senior members here. |
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Pet Insurance
posted at 5/18/2011 9:09 AM EDT
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Posts: 2146
First: 2/15/2006 Last: 9/14/2011 |
As I have posted many times, my goal in HR is to provide only benefits that the individual employee can't purchase individually at like pricees.
I can tell you that most of my employees don't have enough extra income for health/dental premiums, much less something like pet insurance. Not in this economy anyway. And I try to stay away from extra administration/paperwork. To me it is just one more program that a few employees with utilize, but one more interaction with a vendor that will expect to be #1. Not worth the headache for HR/payroll. I also haven't seen many companies adding such a program. Long term care insurance, cancer insurance, etc? Yes! Pet insurance? Nope. And I love pets just as much as the next person. I'd have many more if I had the time, space and $s! |
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Pet Insurance
posted at 5/18/2011 12:12 PM EDT
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Posts: 2146
First: 2/15/2006 Last: 9/14/2011 |
I've found most "extra" benefits to be a participation disappointment. The only reason we have high participation in STD/LTD is that the employer pays 100%! We couldn't keep enough in dental to keep a policy at our small company.
I just don't think employees have the extra spendable income anymore to buy these types. Most are struggling to pay basic bills and possibly health insurance...at least in the businesses we run -- in the service industry mostly. I suppose at a high level professional type firm where salaries are higher than average, you might have better participation..... |
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Pet Insurance
posted at 5/19/2011 7:20 AM EDT
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Posts: 1047
First: 4/11/2002 Last: 9/14/2011 |
Pet insurance isn't a bad voluntary benefit. It's not something that's going to be purchased by much of your workforce, but the insurance carriers know that ahead of time. It's something I wish I had since my cat just had a $5k surgery. If it's something that is more convenient and less expensive for your employees, then go for it.
LTC was doomed from the start for a variety of reasons: 1. Premiums still can't be taken out pre-tax. If it's $10 per month, it's one thing. If it's $100 - $200 per month, it's a whole other thing. 2. Employers may offer it, however, they don't support or embrace it. More employers need to do a core/buy-up approach. 3. The target market is too small. The insurance is for asset protection. Too few Americans have enough assets to protect to justify the premiums. And if you have too many assets (Bill Gates), it doesn't make sense to buy the insurance either. 4. There are too many variables with the product. What dollar amount? How many days/years? Simple or compound inflation protection? 5. Lastly, and most importantly, are people going to buy an insurance they may not ever use? Yes, the same could be said about life or disability insurance, however, you are asking people to buy this insurance 30 years out in some cases and at costs several times higher than other insurances. I'm sure an LTC salesman can jump on this post and pull statistics out of his or her butt to justify the likelihood that you will use it, however, we don't know what geriatric care is going to look like in 2030. |
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Pet Insurance
posted at 7/12/2011 6:13 AM EDT
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Posts: 4
First: 7/12/2011 Last: 7/12/2011 |
I know a source for Pet Insurance; actual insurance and/or a free prescription discount card. In addition, they offer a "people" Healthcare and Prescription discount card/program that works with existing benefits or as a stand alone.It's a great moral booster because it is an additional benefit with no cost to the company or employee, and it doesn't change the way you manage benefits. It is transferable, so an employee can allow a family member, sometimes a relative they are helping, enjoy the discounts. There's no enrollment process and the card is accepted almost everywhere. What's the catch? The supplier wants to sit down with each employee for 15 minutes, explain how to use the card and show them a supplemental benefit they could add if they want. It's very low key and I think VERY much worth it. They sell this card for $50 a month on television so the percieved value is fabulous. I can put you in touch with the people we talked to. My cell is 614 805 1193.
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