Pet owners spent approximately $12.2 billion for veterinary care in 2011. The American Veterinary Medical Assn. said Americans increasingly view their pets as family members and are more likely to make their pets' health a priority. Significant advancements in veterinary medical technology, including organ transplants, scans and reconstructive surgery contribute to the increased cost.
Pet insurance is frequently offered by employers as part of a voluntary group benefits portfolio. Employees can choose their benefits and purchase them directly from the vendor. Employers can offer these benefits at little or no cost to the organization.
The majority of companies offering this type of insurance are typically larger employers—often, a minimum number of employees is required for insurers to offer the benefit. Employers can gauge interest and need by surveying employees.
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