The cost of living is rising, and the cost of veterinary care is rising right along with it. At the same time, employers are dealing with a volatile employment market that has many people changing jobs. Although employees want to earn more money, many are looking for a job that meets their needs both at work and at home and for a more meaningful and secure work experience.
Employers are responding by adding more benefits for employees to address their employee's overall health and well-being in their employment packages.
Employees consider their pets part of their families and seek time off benefits for pet care or adoption. Because pet care is getting expensive, employers are offering pet insurance to give their pet-owning employees some peace of mind.
As employers explore possible options, they’re trying to understand what kind of pet insurance plan provides the best employee benefits.
Pet wellness vs. pet insurance for employee benefits
Many people believe pet wellness and insurance plans are interchangeable, but the services are different. Both can be useful to your employees depending on their needs. Pet wellness plans are also called preventative plans. They help pet owners manage the costs of regular animal care and reimburse pet owners for the more routine, expected pet care needs.
Pet wellness plans for employees will help cover regular veterinary appointments, testing, and preventative care. Vaccinations and blood tests are also covered. Some wellness plans even cover grooming, which can be important to the health of some pet breeds.
A wellness plan can make the difference between an employee affording to care for their pet or not. Wellness plans also come into effect immediately. Employees will start to get reimbursed even if they visit the vet the very same day the coverage begins.
A wellness plan can maximize the chance pet illnesses are caught early. This often means conditions are less severe, making them less expensive to take care of with less invasive therapies.
Pet insurance plans, on the other hand, help cover surprise veterinary bills. Emergency treatment from accidents or animal attacks is covered. Insurance policies cover expenses for unexpected illnesses such as cancer or diabetes.
Most pet insurance plans usually have a waiting period and will not cover pre-existing conditions. However, they’re there if and when your pet is in crisis. Pet insurance plans help ensure your employee never has to go into debt to save their pet.
Plans may vary, but the difference between pet wellness and insurance plans is simple. Wellness plans spread out the expected pet wellness costs throughout the year, making them easier to manage. Pet Insurance plans safeguard against monumental vet bills in case of an emergency.
Both pet wellness and pet insurance plans have their place. Pet owners will choose one or the other depending on their needs, and some will opt for both to ensure complete coverage.
Pet wellness for employees
As employers weigh the value of benefits, pet wellness plans emerge as a bonus for employers and employees.
A pet wellness benefit makes pet parenting affordable, meaning the employee can keep their pet healthy and happy. Employees with pets are more comfortable and more productive. It's good for both the employer and employee.
And because the expenses are handled, employees feel more financially secure. For many people, the price of taking a pet to the vet can be preventative. This means a beloved pet could go without the preventive care required for their wellness.
The neglect can worry the pet owner and result in much more expensive emergency veterinary care. Covered employees feel safe and secure in their finances and are more likely to be energized and engaged at work, which means higher productivity.
Wagmo pet wellness plans offer different coverage tiers, ensuring each employer can choose the best pet benefit solutions. Contact Wagmo today to help find out how best to support your employees and their pets.