BREA, Calif., June 14, 2017 /PRNewswire/ -- National "Take Your Dog to Work Day" is slated for Friday, June 23. While not all companies allow furry four-legged friends in the workplace, nearly half of all Fortune 500 companies offer pet insurance as a voluntary benefit, making it available to millions of employees throughout the U.S.
As one of the fastest-growing employee benefits, more than 5,500 companies and organizations have added Nationwide® pet insurance to their voluntary benefits portfolio, inclusive of small businesses and companies as large as 100,000+ associates. Industries that offer pet-friendly perks run the gamut, ranging from technology, finance, healthcare, retail, hospitality, professional sports and many others.
"According to American Pet Products Association, pet owners spent nearly $16 billion on veterinary care in 2016," said Scott Liles, vice president and chief pet insurance officer for Nationwide. "Since 65 percent of Americans own at least one pet, two-thirds of employees may be shouldering sizable pet care costs. Pet insurance can help employees offset these veterinary expenses."
To meet the growing demand and to simplify and enhance pet insurance coverage for employees, Nationwide introduced My Pet ProtectionSM earlier this year. With this benefit, employees are able to visit any licensed veterinarian in the world and receive 90% reimbursement on eligible veterinary expenses. With one set price for employees regardless of the pet's age, My Pet Protection covers accidents, illnesses and preventive care (such as vaccinations, flea and tick medication and annual wellness exams).
"With the cost of core benefits on the rise, companies are looking for offerings that can be added to a benefits portfolio at no expense to the employer," said Liles. "Offering pet insurance as a voluntary benefit appeals to prospective pet lovers and helps retain current pet-owning employees."
About Nationwide pet insurance
With more than 600,000 insured pets, pet insurance from Nationwide, formerly known as Veterinary Pet Insurance (VPI), is the first and largest pet health insurance provider in the United States. Since 1982, Nationwide has helped provide pet owners with peace of mind and is committed to being the trusted choice of America's pet lovers.
Nationwide plans cover dogs, cats, birds and exotic pets for multiple medical problems and conditions relating to accidents, illnesses and injuries. Medical plans are available in all 50 states and the District of Columbia.
Insurance plans are offered and administered by Veterinary Pet Insurance Company in California and DVM Insurance Agency in all other states. Underwritten by Veterinary Pet Insurance Company (CA), Brea, CA, an A.M. Best A+ rated company (2016); National Casualty Company (all other states), Columbus, OH, an A.M. Best A+ rated company (2016). Pet owners can find Nationwide pet insurance on Facebook or follow on Twitter. For more information about Nationwide pet insurance, call 800-USA-PETS (800-872-7387) or visit petinsurance.com.
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A+ by both A.M. Best and Standard & Poor's. The company provides a full range of insurance and financial services, including auto, commercial, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; banking and mortgages; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com.
Nationwide and the Nationwide N and Eagle are service marks of Nationwide Mutual Insurance Company. ©2017 Nationwide.
CONTACT: Adam Fell
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