Companies help employees save on pet health care costs
As millions of Americans continue to work from home, many people are spending more time than ever with their pets. The increased time spent together may lead them to consider pet insurance as a way to protect and care for their animals. What many pet parents may not realize is that their company may offer pet insurance as a voluntary benefit at a preferred rate.
As the 2021 workplace benefits open enrollment period gets underway, Nationwide, the largest provider of pet health insurance in the U.S., is reminding employees to ask their employers if they offer pet insurance as a voluntary benefit. Nationwide’s medical and wellness plans for dogs, cats, birds and exotics are offered as a voluntary benefit by more than 8,600 employers and associations, including more than half of Fortune 500 companies.
“With nearly 70% of U.S. households owning at least one pet, many employees may be faced with unplanned pet health expenses,” said Nationwide Chief Pet Officer Heidi Sirota. “Offering pet insurance as a voluntary benefit is a win/win for employer and employee. It demonstrates that the company is invested in the wellbeing of the whole family and it provides pet-owning employees financial relief to get the care their beloved companions need.”
Employee benefits
Enrolling through work guarantees preferred pricing and may offer the convenient option of having monthly premiums payroll deducted. Additionally, this voluntary benefit is portable so a Nationwide pet insurance member who separates from their company may retain the policy at the preferred rate for the remainder of the term.
Employer benefits
There is no cost to add Nationwide pet insurance to its benefits portfolio and it may help attract or retain a key demographic in today’s workforce. This increasingly in-demand benefit is shown to greatly appeal to millennials who represent the largest generation in the workforce and 35% of all U.S. pet owners. According to a HealthPocket poll, 62% of millennials say they would put their pet’s health before their own.
Nationwide has plans that cover accidents, illnesses and routine care, such as vaccinations, flea and tick preventive medication, and annual wellness exams. Employees may visit the voluntary benefits section of petinsurance.com to see if their company offers Nationwide pet insurance and employers may visit the HR professionals/broker section of the site to learn more about adding the benefit to its portfolio. Nationwide has also created a virtual booth that contains additional resources and enrollment FAQs.