Pet owners are constantly inundated with options to ensure the wellbeing of their furry companions. And, while both wellness plans and insurance aim to safeguard your pet's health, there are significant differences between the two. 

What is pet insurance?

You've likely heard of pet insurance, which provides financial coverage for unexpected accidents, injuries, and illnesses that require veterinary care. Pet insurance works on a third-party reimbursement model – the insurance company reimburses a portion of the veterinary expenses incurred for covered treatments, surgeries, medications, and diagnostic tests. Pet insurance may help mitigate the financial burden associated with unexpected medical emergencies.

Benefits of pet insurance

1. Financial Protection. One of the primary benefits of pet insurance is financial protection against unexpected veterinary expenses. In the event of accidents, injuries, or sudden illnesses, pet insurance may cover the cost of veterinary care, including surgeries, medications, diagnostic tests, and treatments. This financial assistance ensures that pet owners can provide necessary medical treatment for their pets without worrying about the costs associated with unexpected emergencies.
2. Alleviating the “What if?”. Pet insurance provides peace of mind to pet owners by alleviating the financial stress of dealing with unexpected veterinary bills. Knowing that their pets are insured allows pet owners to make medical decisions based on their pet's health needs rather than financial constraints. This peace of mind ensures that pets receive timely and appropriate care, leading to improved health outcomes and quality of life.
3. Increased Access to Quality Veterinary Care. With pet insurance, pet owners may have fewer financial limitations when choosing veterinary care for their pets. Insurance coverage allows pet owners to choose veterinarians and specialists based on their expertise and the quality of care they provide, rather than financial considerations. This ensures that pets receive the highest standard of medical care.

Considerations for pet insurance

While pet insurance provides valuable coverage for unexpected medical expenses, it's essential to read the fine print, including coverage limits, deductibles, reimbursement rates, and exclusions. Like any insurance policy, pet insurance plans vary in terms of coverage and cost, so it's crucial to compare different options and choose a plan that aligns with your pet's needs and your budget.

Additionally, pet insurance typically does not cover pre-existing conditions, and there may be waiting periods before certain conditions are eligible for coverage. Lastly, most pet insurance options only provide value in the event of an emergency. You may pay for coverage and never file a claim or submit for reimbursement.

What are pet wellness plans?

Pet wellness plans are proactive healthcare packages designed to cover routine and preventive care for pets. Think of them like your regular dentist visits. These plans, paid monthly or annually directly to your veterinary clinic, typically include services such as annual vaccinations, wellness exams, and lab tests, and often include add-ons like parasite prevention, dental cleanings, and sometimes even behavioral training. Essentially, they focus on maintaining your pet's health and preventing potential illnesses before they occur.

Benefits of pet wellness plans

1. Preventive Care. Pet Wellness Plans promote regular veterinary visits and proactive care. By covering routine expenses, such as vaccinations and blood work, wellness plans encourage pet owners to stay ahead of potential health issues and maintain their pet's overall well-being.
2. Budget-Friendly Payments. Spreading out the cost of routine care through monthly payments can help pet owners budget more effectively and avoid unexpected expenses.
3. Proactive Peace of Mind. Wellness plans incentivize pet owners to schedule regular veterinary visits for their pets. Since preventive care services are covered under the plan, pet owners are more likely to bring their pets in for routine check-ups and screenings. Regular veterinary visits allow veterinarians to detect potential health issues early, address any concerns, and provide timely treatment, ultimately improving the pet's overall health outcomes.
4. VIP Treatment. Many wellness plans – especially those powered by baxtr – allow for the clinic to provide members-only perks and discounts to their clients. These extra benefits can include unlimited sick visits, boarding discounts, food discounts, telehealth visits, and special members-only hours. They're the extra treats that make joining the wellness plan even tastier.

Considerations for pet wellness plans

Be wary of third-party wellness plans that may include benefits and services that may not be applicable to your specific pet’s needs. That’s why we built baxtr to be as flexible as your cat searching for his toy under your couch. We give your veterinarian the ability to create whatever plans they feel like their clients need. Since the plans are built by your veterinarian, you can trust that everyone involved is prioritizing your pet’s health.

Would your veterinarian benefit from using baxtr to create a wellness plan program? Send their contact info to referrals@getbaxtr.com

Conclusion

The myth: It’s pet wellness plans OR pet insurance. You have to pick one or the other.

The reality: You can (and probably should) have both. Pet wellness plans are terrific options for routine preventive care. Combined with pet insurance, your pet receives the benefit of proactive preventive care, combined with the benefits of pet insurance to protect against the unexpected.

Our recommendation: Speak with your veterinarian about which option makes the most sense for your pet. Together, you can assess your pet's profile, lifestyle, and age, as well as your budget, so you’re able to make an informed decision that best suits your pet's health and your peace of mind.