Most people are familiar with health insurance, lifeinsurance, disability insurance, and long-term care insurance, among otherforms of insurance. However, although 62 percent of Americans own at least onepet, most don’t consider purchasing insurance for their pets.
Californiais currently considering a type of health insurance reform for companies thatprovide insurance for pets. A bill passedin the Assembly last week that would require pet insurance policies toexplain, on the main page of its website, any company policy that would limitcoverage, including coverage limits, benefit schedules, and other limitations.
Pet insurers will also be required under the bill to make itclear whether they deny coverage based on preexisting conditions. The billprovides that pet insurance will come under the authority of the CaliforniaDepartment of Insurance, so that complaints about each insurance company can beviewed on the Department of Insurance’s website.
The bill was sponsored by Dave Jones, who was encouraged todo something by pet owners who were under the impression their pet insurancewould cover 80% of veterinary bills, but in fact covered far less. Since 2000,average veterinary costs have risen 70%, prompting more pet owners to purchasepet insurance.
By the way, this is Dave Jones thinly veiled effort to make it look like he has some concept about insurance as he runs for Insurance Commissioner.
The bill now moves to the Senate. You can read more aboutthe bill here.