Petplan US - Ridiculous premium increase

[dandelos]

Looks like I forgot to post my update for 2016. Here is an updated history of the annual premiums for Skippy's (currently 7.5 years old) Petplan policy since year 1 --

2017: To be determined (see below)
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 an 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

This year's renewal letter just arrived, and it says something about a change in PetPlan's underwriter, which Petplan said resulted in them having to "adjust the cost of (their) premiums" and a "steep rate increase".

I played around with their plan builder on their website, and if I want the same coverage in 2017 that I had in 2016, my annual premium will be a WHOPPING $1497!!!! I am able to get a $808 premium however, if I increase the deductible to $500, and reduce the reimbursement to 70%.

Decisions, decisions.

[Chuck]

Looks like I forgot to post my update for 2016. Here is an updated history of the annual premiums for Skippy's (currently 7.5 years old) Petplan policy since year 1 --

2017: To be determined (see below)
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 an 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

This year's renewal letter just arrived, and it says something about a change in PetPlan's underwriter, which Petplan said resulted in them having to "adjust the cost of (their) premiums" and a "steep rate increase".

I played around with their plan builder on their website, and if I want the same coverage in 2017 that I had in 2016, my annual premium will be a WHOPPING $1497!!!! I am able to get a $808 premium however, if I increase the deductible to $500, and reduce the reimbursement to 70%.

Decisions, decisions.

Put your money in the bank....

[meljoy]

WOW!!

I know that Leo's insurance went up and up and up as the years went by....I felt kind of trapped because I knew I would undoubtly need it but it was a lot of £££££ by the end

[waldor]

I dropped our Sophie's insurance with PetPlan over a year ago, when the premiums became too high. We never had a claim and our eight year-old Sophie is very healthy (knock on wood!!!), so we dropped the insurance and are taking our chances. It was a difficult decision.

[dandelos]

Here's an update:

2018: $968 ($10k vet fees, $500 ded., 70% reimbursement) = 15% increase
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

[waldor]

Wow, thank you for the comparisons. At least the increases are not as harsh (11%, 13%, 15%) but it's interesting that the amount of reimbursement has gone down. Something has to give, just like our own health insurance policies, and it's never in our favor. Our Sophie is now nine years old and, knock on wood, so far she has no chronic health problems. Keeping our fingers crossed . . . for Sophie and everyone's beloved Cavaliers.

[Kate H]

Unfortunately, I have a rather over-adventurous Cavalier. All I need is for her to put her foot down a rabbit hole and break her leg and that would clear out my current bank account, my savings account and my building society account. Think I'll go on paying the monthly premium!

Kate and Ruby

[ByFloSin]

Holly P has an inherited defect so is not eligible for health insurance.

2 weeks ago she caught a claw on the double paw on something in the house or garden, then pulled it partly out trying to release herself. I took her to the vet and was charged £130 for a 7 day slow acting injected antibiotic and a finger check of the area by the vet, who told me to bring her back in a week if the claw hadn't gone back. He said there was no muscle or root damage. I took her back a week later because the claw was still quite loose. Again the vet felt around the area and said it will go back by itself given enough time to do so. The charge was another £30. The next day Holly was working in one of the hospital wards when the whole claw shot out of the paw and skidded along the floor. End of, except why did I pay out £160?

Now she has a loose incisor in the lower set. Fortunately loosing teeth at this age is common for my dogs, so I am waiting for nature to take it's course by letting it fall out of her mouth, which saves quite a bit at the vet's.

I dread to think what a broken bone would cost

[dandelos]

Coincidentally, together with his periodic teeth cleaning, Skippy had to get several dental extractions (7-8 teeth) done in January, and we spared no expense by taking him to one of the top Cavalier dentists in town to make sure it got done right. Our final bill came up to be $2,514. I automatically assumed that PetPlan would reject most if not all of this citing it as 'preventative' care, and was even less excited when they asked me to painstakingly submit all his medical records since 2012, as part of their claims review process. However, I was pleasantly surprised when I just received a check in the mail for $1,242 this week. Every little bit helps and $1,242 is certainly not a small sum by any means, so I'll be fair to PetPlan by including the claims they have paid me back (first in 2011, and then in 2018 ) in my on-going summary --

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]

Wow, I had no clue dental extractions could be so expensive! PetPlan has treated you right, so far. I hope Skippy is feeling better.