Pet Insurance & Prescription Medication: Here’s What You Need To Know
As any pet parent knows, having a furry member of the family can cost a pretty penny when it comes to vet bills. You might already know that some pet insurance plans help cover the costs of vet visits and emergency care, but what about prescription medication?
Thanks to advances in veterinary technology and medicine, veterinarians are now able to do incredible things to help treat our sick and injured pets.
But with these advances in medical care, comes an increase in the cost of healthcare for cats and dogs (enough to rival those of human medical treatments).
Pet insurance can be a lifesaver
When pet parents are faced with expensive vet bills, those with pet insurance are far better equipped and able to make decisions that are based on what is best for their precious pet, as opposed to how it will take a toll on thier finances.
Having the right pet healthcare plan in place can quite literally save your pet’s life and mean the difference between treatment and euthanasia. But keep in mind that not all pet plans were created equal.
This means that depending on your chosen pet insurance plan, some will include phenomenal day-to-day benefits and others are more focused on the basic cover such as accident-only cover.
Of course, your chosen plan will depend on your pet’s healthcare needs (for example, older pets tend to have higher risks for illness and visit the vet more regularly) and your budget.
Pet cover and medication
I’ve had a few people ask me about pet insurance and prescription medication and whether or not there are pet insurers who include prescription meds in their cover. Which is why this article contains the information you need to know about pet healthcare cover and medication for your pet.
To properly answer this question, I chatted to the guys over at Oneplan Pet Insurance. They gave me a little insight into pet insurance and prescription medication. In fact, here’s a great article they wrote on “Does pet insurance cover my senior dog's chronic medication?” it might be beneficial for you to give it a read.
In any case, let’s get into it….
What does medication mean for pet insurance?
“Medication” means any prescribed medication for a medical condition diagnosed during a vet consultation but excludes over the counter medication.
Then there’s the case of chronic medication: “Chronic medication” for a pre-existing condition will be subject to a 12 month waiting period. Any chronic condition that is diagnosed and or vested after a 3 month waiting period will be included in the definition of medication.
Basically, medication is what your vet prescribes your pet for the treatment of a specific health issue. But keep in mind that this doesn’t mean OTC drugs. In the case of chronic medication, there is a waiting period of 12 months if the medication is being used to treat a pre-existing condition (a health issue that began BEFORE your cover started).
Pet insurance also includes limits to your cover. This is the max amount of money an insurer will pay in the event of a claim. Medication for pets has limits as defined in your policy document.
What benefit is medication included under?
With Oneplan, medication is included in vet visit cover. This means that if you have chosen one of their pet insurance plans that includes vet visits, then you will have cover for medication included in this.
What is a vet visit?
A vet visit is when you take your pet to the vet for a specific health issue. With Oneplan, you are covered for 4 vet visits a year and these include consultations, radiology (X-rays), pathology (blood tests) and dental procedures.
Does pet insurance with a medication benefit make financial sense?
Pet medication can cost as much as human medication. Depending on your pet’s health condition, the costs of medication could start at R100 and go into thousands of rands depending on the severity of the issue. Antibiotics cost roughly R500.
This means that if you have a pet insurance plan that includes cover for prescription medication, not only will this help cover the costs of vet visits (and routine care if you have a pet plan with Oneplan), but expensive medications too that are prescribed during a consultation.
Oneplan is one of my personal favourite pet insurers (and believe me, I have done the research). My reason for always choosing them is that they stick to their word in making pet insurance simple and hassle-free.
The best part is that they front you with the cash you need BEFORE you vet visit using their smart Oneplan App and Onecard. Basically, when you become a member of Oneplan you will get your own Onecard which is preloaded with funds for you to use to pay for vet visits and routine care.
Oneplan is also one of the only insurers who include routine care in their pet cover. Others have this benefit as an extra benefit with an add-on cost attached.
Of course, the choice is yours, but make sure you do your research before signing on the dotted line.
Until next time,
The Pet Insurance Team