Though the country has been in the midst of a debate over Americans and health insurance, it seems there’s less disagreement on pets and health coverage.
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 added VPI Pet Insurance as a voluntary employee benefit, making it available to 67 million people through nearly 3,000 organizations and associations nationwide, the company says.
“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,” says 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.