While not all companies allow furry four-legged friends in the workplace for various reasons (employees with allergies, facility leases, etc.), one in three Fortune 500 companies now offer as pet insurance as a voluntary benefit.
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“Since more than two-thirds of Americans own at least one pet, offering pet insurance will appeal to prospective pet lovers and retain current pet-owning employees,” said Deana Single, director of group accounts for Veterinary Pet Insurance (VPI). “Additionally, pet insurance can be added to a company’s benefits package at no cost to the business.”
As the popularity of pet health insurance expands, some companies are subsidizing a percentage of their employee’s cost, with several companies now paying as much as 100 percent of their employees’ pet insurance premiums.
For example, VPI plans cover dogs, cats, birds, and exotic pets for multiple medical problems and conditions relating to accidents, illnesses, and injuries. Wellness coverage for routine care is available for an additional premium.
Plan options and premiums can vary, but start at approximately $10 per month and average $24 to $34 monthly. Many companies allow employees the opportunity to pay their premiums via payroll deduction, with no administrative responsibilities for employers.
Well, if it doesn’t cost the company anything, and there’s a demand for it, then why not offer it? I’d think it doesn’t make sense for every company to offer it, though. Perhaps only companies where employees are more likely to have pets (not really sure what those would be) should be the ones offering it.
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specifics.