Nationwide Insurance announced it would cancel coverage for about 100,000 pets across the country, blaming the rising costs of veterinary care and other factors that are cutting into the profits of its pet insurance business, the company said in a statement on June 14.
The move is leaving tens of thousands of pet owners in a predicament because – even though Nationwide says age and prior claims history aren’t a factor – many of those policies are for older pets with preexisting conditions that may not be insurable elsewhere.
This is a devastating development for the 100,000 pet parents who placed their trust (and years of dutifully paid premiums) in Nationwide to be there when they, and their pets, needed them most.
This maneuver will also create significant collateral damage within the pet insurance benefit category and potentially for voluntary benefits at large. An impacted employee’s first call will likely be to their HR department, whose first call will be to their broker.
At United Pet Care, their mission is to make world-class pet health care affordable and accessible to individuals and group employees everywhere. In keeping with this mission, they are offering any employee impacted by the recent Nationwide mass cancellation United Pet Care membership at their discounted employer rates ($17.50/mo for first pet, $16.50 for each additional pet).
While their plan will not replace the lost coverage in its entirety, United Pet Care’s 20-50% savings on all in-house services within their network of contracted veterinarians could very likely be the difference in these pet parents’ ability to afford their pets’ required care (at a fraction of the monthly cost of their former policy).
With no restrictions due to age, breed-specific or pre-existing conditions, every pet qualifies and pays the same affordable rate – with coverage guaranteed for the life of the animal.
For those unable to find a suitable vet within their network, unlimited utilization of Untied Pet Care’s 24/7 Virtual Pet Care services and Pet Rx Savings card are available nationwide, as are their membership savings on mobile vet services, in-home hospice/euthanasia, retail items, at-home labs and other pet services.
The importance of a product which works for all pets, even if only at some vets, has never been clearer – United Pet Care’s participation rates, member CSAT, and broker/HR NPS scores show that this tradeoff drives a superior member & group experience.
If you’re interested in learning more about United Pet Care, please contact us at RS Assurance. Our proud partnership with United Pet Care allows us to offer the best pet benefits to our group and individual clients, and all of their fur babies.
