Benefits Of Your Boss Offering Pet Insurance
Pet insurance is becoming an increasingly popular workplace perk.
Your pet is part of your family, so it only makes sense that he’s protected in case of medical emergencies. But like any medical insurance policy, rates can be out of your financial budget. Wouldn’t it be great if the company you worked for offered pet insurance? Don’t be surprised if at your next job, you see a pet insurance policy in place for lucky employees!
With the term “pet parent” becoming commonplace, dogs and cats are considered children…so they need to be covered for medical purposes. It’s no wonder that pet insurance is becoming increasingly popular among pet parents. Unexpected illness and accidents can happen and leave you in the lurch for thousands of dollars in vet bills. But when you’re covered, you’re reimbursed for up to 100 percent of those costs (depending on what policy you choose). That’s why it’s no surprise to see employers offering pet insurance policies as an employee benefit.
Yes, pet insurance is a wonderful perk for employees, but it’s also beneficial to the organization.
Here are a few benefits that your boss can enjoy if the company offers pet insurance.
- In order to stand out from their competitors, progressive and flexible companies offer pet insurance in hopes of luring the best talent to their company and keeping great employees happy (in fact, one in three Fortune 500 companies offer it as an employee benefit).
- Every little perk counts – happy employees tend to be more loyal to a company that offers them appropriate compensation, and pet insurance is definitely a perk worth staying for.
- Because some pet insurance policies cost as little as $20 per month, the cost is seen as a good investment for forward-thinking companies. Of course, premiums vary depending on the type and breed of pet as well as age and certain risk factors.
- Want to offer more value to employees who do not have families with children? Pet insurance is the way to go!
- Offering pet insurance policies to employees requires minimal up-front payment from the company – employees pay for covered services and receive reimbursement from the plan.
- Pet insurance plans give employees peace of mind in knowing that their pets will be covered in the event of a veterinary emergency – and that’s worth its weight in yearly bonuses!
Any company or organization can reap the rewards by adding pet insurance to its benefits package. Happy employees tend to work hard, be loyal and stick around, which means more profits at the end of the day. And happy employees spread the word about what a great company they work for. And isn’t that the best kind of news or marketing your company can hope for?