Fortune 500 Companies Expand Pet Health Insurance Offerings
A Record 67 Million Employees Receive Access to Discounted VPI Pet Insurance
BREA, Calif., June 20, 2012 /PRNewswire/ -- With the campaign trail for the 2012 Presidential Election heating up nationwide, one of the hot-button issues at the center of the debate is human health insurance. Pet health insurance, on the other hand, is much less contentious as its popularity increases among U.S. employers looking to attract prospective pet-owning employees. One in every three Fortune 500 companies now offer Veterinary Pet Insurance (VPI), the nation's oldest and largest provider of pet health insurance, as a voluntary employee benefit, bringing the number of people with access to discounted pet insurance to an all-time high.
In the last two years alone, more than 1,000 companies have added VPI Pet Insurance as a voluntary employee benefit, making it available at a discount to 67 million people through nearly 3,000 organizations and associations nationwide.
"With more than 63 percent of U.S. households owning at least one pet, offering pet health insurance to employees is both a practical and unique benefit option," said Deana Single, director of group accounts for VPI. "Each year we see a substantial increase in the number of large companies and associations that are looking for new and enticing ways to incentivize and compensate employees. By adding VPI Pet Insurance to their voluntary benefits package, employers can offer a fantastic incentive to pet-loving employees at no cost to the company."
As the popularity of pet health insurance expands, many companies are offering to pay a percentage of their employee's cost, with some companies now paying as much as 100 percent of their employee's pet insurance costs. Chipotle Mexican Grill, Deloitte LLP, Hot Topic, T-Mobile, Wells Fargo and Zynga Inc., are among nearly 3,000 organizations and associations that offer VPI Pet Insurance at a discount to employees.
When a company adds VPI Pet Insurance to its benefits package, employees are eligible for a five percent discount on their policy premium. Plan options and premiums vary, but start at approximately $14 per month and average $25 to $35 monthly, with deductibles ranging from $100 to $1,000. Many companies allow employees the opportunity to pay their premiums via payroll deduction. Employers or brokers looking for more information about VPI Pet Insurance can contact the company at email@example.com.
About Veterinary Pet Insurance
With more than 485,000 pets insured nationwide, Veterinary Pet Insurance Co./DVM Insurance Agency (VPI) is a member of the Nationwide Insurance family of companies and is the oldest and largest pet health insurance company in the United States. Since 1982, VPI has helped provide pet owners with peace of mind and is committed to being the trusted choice of America's pet lovers.
VPI Pet Insurance plans cover dogs, cats, birds and exotic pets for multiple medical problems and conditions relating to accidents, illnesses and injuries. CareGuard® coverage for routine care is available for an additional premium. Medical plans are available in all 50 states and the District of Columbia. Additionally, nearly 3,000 companies nationwide offer VPI Pet Insurance as an employee benefit. Policies 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 (2012); National Casualty Company (all other states), Madison, WI, an A.M. Best A+ rated company (2012). Pet owners can find VPI Pet Insurance on Facebook or follow @VPI on Twitter. For more information about VPI Pet Insurance, call 800-USA-PETS (800-872-7387) or visit petinsurance.com.
SOURCE Veterinary Pet Insurance Co.
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