Petplan US - Ridiculous premium increase

[JeanKC]

Dandelos mentions using 'one of the top Cavalier dentists in town'... so that may be a factor in the charge. We've had dentals with many extractions (more than seven or eight) on our two oldest by the regular vets, and the most expensive I think was something over $600. Including pain meds. One might suspect the kind of charge Dandelos saw is 'insurance based'.

[waldor]

Location might have something to do with it, too. In some cities, everything is more expensive.

[dandelos]

Well, our 2019 renewal is here so here's the latest --

2019: $1150 ($15k vet fees, $500 ded., 70% reimbursement) = 18.9% increase
2018: $968 ($10k vet fees, $500 ded., 70% reimbursement) = 15% increase (received $1,242 back in claims)
2017: $842 ($10k vet fees, $500 ded., 70% reimbursement) = 13% increase
2016: $750 ($10k vet fees, $200 ded., 80% reimbursement) = 11% increase (the vet fees coverage went up but strangely enough, I don't recall manually making any changes to our coverage)
2015: $681 ($8k vet fees, $200 ded., 80% reimbursement) = 36% increase
2014: $499 ($8k vet fees, $200 ded., 80% reimbursement) = 29% increase
2013: $527 ($8k vet fees, $200 ded., 100% reimbursement) but reduced to $386 ($8k vet fees, $200 ded., 80% reimbursement) = 28% increase
2012: $413 ($8k vet fees, $200 ded., 100% reimbursement) = 25% increase
2011: $330 ($8k vet fees, $200 ded., 100% reimbursement) = first year of policy (received $481 back in claims)

[waldor]

Thank you, dandelos, for posting these numbers. I really appreciate your time and labor in doing this.

In the past year, we've had a lot of vet bills and I often wondered if we should have kept the PetPlan insurance. Our Sophie is now ten years old and we're very thankful that none of her health problems are the dreaded SM or CM. In the long run, we probably would have broken even on the money or even spent more on premiums than at the vet, over the past few years since I let the insurance go.

As human health insurance costs are rising, we can expect our pet insurance to increase, too. All their new technology, tests, treatments, and medicines don't come cheap, nor do the insurance claims payouts. The money to pay those claims has to come from somewhere, as my brother-in-law the insurance broker tells me.

[Lani]

Mine for Sparky with PetPlan is over $2k. He is 11.5, heart clear. No signs of SM. Hardly any issues except he is going blind and maybe a touch of arthritis. (knock on wood).

Yet, I am afraid to cancel it. I almost cancelled right before Lucky got sick and they ended up covering over $8k in vet bills for me. It's a tough decision. I am feeling soon I will probably be better off just "self-insuring" by opening a dedicated bank account for his needs.

[dandelos]

Updated to reflect what we just got back this year for a gastronomy procedure Skippy had to have done in Sept.

2019: $1150 ($15k vet fees, $500 ded., 70% reimbursement) = 18.9% increase (received $1,883 back in claims)
2018: $968 ($10k vet fees, $500 ded., 70% reimbursement) = 15% increase (received $1,242 back in claims)
2017: $842 ($10k vet fees, $500 ded., 70% reimbursement) = 13% increase
2016: $750 ($10k vet fees, $200 ded., 80% reimbursement) = 11% increase (the vet fees coverage went up but strangely enough, I don't recall manually making any changes to our coverage)
2015: $681 ($8k vet fees, $200 ded., 80% reimbursement) = 36% increase
2014: $499 ($8k vet fees, $200 ded., 80% reimbursement) = 29% increase
2013: $527 ($8k vet fees, $200 ded., 100% reimbursement) but reduced to $386 ($8k vet fees, $200 ded., 80% reimbursement) = 28% increase
2012: $413 ($8k vet fees, $200 ded., 100% reimbursement) = 25% increase
2011: $330 ($8k vet fees, $200 ded., 100% reimbursement) = first year of policy (received $481 back in claims)

[dandelos]

Updated for 2020 and (the start of 2021) --

2021: $1438 ($15k vet fees, $500 ded., 70% reimbursement) = 8.7% increase
2020: $1322 ($15k vet fees, $500 ded., 70% reimbursement) = 14.9% increase (received $467.48 back in claims)
2019: $1150 ($15k vet fees, $500 ded., 70% reimbursement) = 18.9% increase (received $1,883 back in claims)
2018: $968 ($10k vet fees, $500 ded., 70% reimbursement) = 15% increase (received $1,242 back in claims)
2017: $842 ($10k vet fees, $500 ded., 70% reimbursement) = 13% increase
2016: $750 ($10k vet fees, $200 ded., 80% reimbursement) = 11% increase (the vet fees coverage went up but strangely enough, I don't recall manually making any changes to our coverage)
2015: $681 ($8k vet fees, $200 ded., 80% reimbursement) = 36% increase
2014: $499 ($8k vet fees, $200 ded., 80% reimbursement) = 29% increase
2013: $527 ($8k vet fees, $200 ded., 100% reimbursement) but reduced to $386 ($8k vet fees, $200 ded., 80% reimbursement) = 28% increase
2012: $413 ($8k vet fees, $200 ded., 100% reimbursement) = 25% increase
2011: $330 ($8k vet fees, $200 ded., 100% reimbursement) = first year of policy (received $481 back in claims)

[dandelos]

2022 update --

2022: $2512 ($15k vet fees, $500 ded., 70% reimbursement) = 75% increase!!!
2021: $1438 ($15k vet fees, $500 ded., 70% reimbursement) = 8.7% increase (received $849.90 back in claims)
2020: $1322 ($15k vet fees, $500 ded., 70% reimbursement) = 14.9% increase (received $467.48 back in claims)
2019: $1150 ($15k vet fees, $500 ded., 70% reimbursement) = 18.9% increase (received $1,883 back in claims)
2018: $968 ($10k vet fees, $500 ded., 70% reimbursement) = 15% increase (received $1,242 back in claims)
2017: $842 ($10k vet fees, $500 ded., 70% reimbursement) = 13% increase
2016: $750 ($10k vet fees, $200 ded., 80% reimbursement) = 11% increase (the vet fees coverage went up but strangely enough, I don't recall manually making any changes to our coverage)
2015: $681 ($8k vet fees, $200 ded., 80% reimbursement) = 36% increase
2014: $499 ($8k vet fees, $200 ded., 80% reimbursement) = 29% increase
2013: $527 ($8k vet fees, $200 ded., 100% reimbursement) but reduced to $386 ($8k vet fees, $200 ded., 80% reimbursement) = 28% increase
2012: $413 ($8k vet fees, $200 ded., 100% reimbursement) = 25% increase
2011: $330 ($8k vet fees, $200 ded., 100% reimbursement) = first year of policy (received $481 back in claims)