Rising Cost of Pet Care Show Why Pet Insurance Matters
Over the last four years, pet services costs, including veterinary care, have increased – amounting to an average inflation rate of 7.43% per year. Pet services prices have gone up nearly 24% since 2021, and considerably outpaced the overall inflation rate.
These numbers show why pet insurance has become a popular option within voluntary benefits packages and why brokers are wise to include it when building packages for clients.
In this podcast, David Hurley, the Director of Sales for Voluntary Benefits and Member/Specialty Groups at Nationwide, is joined by Dr. Emily Tincher, the Chief Veterinary Officer at Nationwide, to discuss the increasing costs of caring for pets and how benefits brokers and advisors can position pet insurance as a way to offset some of these costs.
In the episode, Hurley and Tincher discuss:
· What is driving pet care costs and the effect that is having on employees who own pets
· Why voluntary benefits, such as pet insurance, are a useful way to offset these costs
· How brokers can play a crucial role in ensuring that benefits packages include voluntary benefits like pet insurance to address a wide range of issues
This podcast is the third episode in a series called “Strategic Benefits for a Pet-Loving Workforce,” which is hosted on BenefitsPRO and sponsored by Nationwide.
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