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View Full Version : Petplan US - Ridiculous premium increase



dandelos
12th February 2013, 04:26 AM
Wow, I just got my renewal notice from PetPlan USA, and they are saying my 2013 premium is going up by a WHOPPING 27% this year. Annual premium increments I can understand, especially in the face of inflation, but since I joined PetPlan in 2011 the 2 increments since then would mean they've increased my premium 51% in just 2 years.

The only claim we've made so far was for a $700 reimbursement in late 2011 for a abscess removal procedure we had to do on Skippy.

Premiums over the years
2013: $527 (have not paid/renewed yet)
2012: $413
2011: $350 (estimated, from what I can remember)

This is the 'plan' we currently have:
"Bronze" coverage

$8000 vet fees
$200 deductible
100% reimbursement


I'm about to email PetPlan to get an explanation, but just wanted to post here and see if this is the norm for you guys too, or if they are way out of line.

MomObvious
12th February 2013, 11:01 AM
Well, insurance is insurance and the companies can basically do whatever they want (in the US anyway). :mad: It makes me angry as well. It least with Pet Plan the insurance works like it should I mean when you sign up "they say" it covers XYZ and it actually does.

Not like most human insurance health insurance companies where you pay your deductible you pay your co-pay then STILL end up with a bill WHAT????!!!!!! :mad::mad::mad:

I have not renewed yet , due to in April but I paid $375 ( ish-or what I remember) for April 2012-April 2013 I do remember getting a pay in full discount tho.
I don't think your out of like, but maybe you can play with the numbers a bit....can you raise the deductible? change the reimbursement? It never hurts to ask a company "hey can you do better than this?"

Please let us know how it goes.

Chuck
12th February 2013, 01:43 PM
Seems strange, I have Petplan for Cooper with

$8000 vet fees
$200 deductible
80% reimbursement
I paid $324.54 renewal in January

Lani
12th February 2013, 02:41 PM
Mine went up too. I decided to stay with them though since Lucky has now been diagnosed with MVD.

Plus, they do pay more than half their dentals for me (I have a similar plan to Chuck).

I might look into changing to a lesser plan but for now I've just bit the bullet and let it renew...

waldor
13th February 2013, 07:09 PM
I don't have the numbers handy, but the premium for Sophie's "Silver" policy with Pet Plan had a similar sharp increase in September 2012, also. It was noticeable.

We get that lovely quarterly magazine printed on heavy stock paper with nice color photos, with articles that describe some of the most expensive claims they have paid out on dogs. Insurance is a form of socialized medicine in that *we* are paying for those claims. That's how it worked with the group health insurance plan where my husband worked. Husband and I didn't have outrageous health insurance claims, but there were some very, very ill people where he worked, each with claims in the hundreds of thousands of dollars a year, for a year or two. As a result, the premiums for all employees jumped 35% for the past few years and we went from a $5k to $8k deductible to keep those horrendous premiums as low (ha!) as they were. I imagine it is the same with pet insurance.

Edited to add ---

Found the info on premiums (numbers are rounded to nearest dollar):
Sept 2009 $280 USD
Sept 2010 $294 USD
Sept 2011 $294 USD
Sept 2012 $383 USD --- a $90 increase over 2011 price; a 31% increase

cavdaddy008
13th February 2013, 09:14 PM
We haven't got any for Jenny yet, but some folks here have said that we should. We have been thinking about it seriously, too. We had best get started on our research. I'm wondering if the pet insurance companies are like the satellite companies. They just continue to raise the monthly payment and there's no inflation at all now. The health insurance companies do the same. They treat us like a bunch of lemmings and we continue to make that easy for them to do. Just sayin....

Super Princess
14th February 2013, 03:15 AM
we are with trupanion..and have just entered our first two claims.
awaiting the results..seems to be taking a while to review.

we have a zero deductable..and a 90% coverage
my friend used them with his boston terrier..and has claimed and been reembersed over $10,000.

dandelos
26th February 2013, 01:19 AM
Just got off the phone with PetPlan. I inquired about reducing Skippy's coverage from 100% reimbursement to either 90% or 80% (keeping Bronze and the deductible the same):

90% = $430-something
80% = $380-something

We're going with the 80% option this year. Fingers crossed we won't need to use it, of course.

Lukesmom
28th February 2013, 03:20 PM
I have PurinaCare for Luke. His renews in April, and I just got the notice. It' s going up about a dollar a month, from $33 something to $34 something. I have preventative care with $1000 deductible and 80% reimbursement. He has been covered through them the entire time I have had him. I started his policy before I brought him home so that he would be covered immediately when I got him home. I've heard people tell of high increases through Petplan in other places too.

dandelos
12th February 2014, 01:54 AM
One year later, I just received our renewal letter for Skippy informing us that his premium for the next year will be $498.45, or about 29% more than last year. I understand increases have to happen with inflation and dog age, but 25-29% a year just seems excessive.

Chuck
12th February 2014, 01:18 PM
Yes, one year later Now I have had to drop the Pet Plan insurance on Cooper.It increase to the point that I can no longer afford it. will miss the magazine.

dandelos
14th February 2014, 09:17 AM
Here was their emailed response after I sent them a note expressing my disappointment at the premium increase --


Thank you for contacting us.
On a yearly basis we do look at a couple of factors that will change the premium on a year to year basis.
Age: As a pet ages there will be an increase, just like humans as a pet gets older the opportunity for injury and illness does rise.
Location/veterinary spending: We do take your location as well as what vets are charging pet parent to treat and diagnose injuries and illnesses into consideration. This will change on a year to year basis as veterinary spending does go up and down from year to year.
Breed: The breed of the pet has a major part in the baseline of the premium. As some breeds life span may only be 6-8 others may be 13-15. Depending on the average cost of the pet your premium may fluctuate a bit.
If there are any other questions you have about your policy please feel free to let me know.

Chuck
14th February 2014, 01:32 PM
Well. according to that I messed up! I thought that by buying it when he was a pup would save me money as he got older. Should just buy it when they get about 6-8 years old, as it looks like that would be the same rate for a new policy.