Pet Insurance Interviews >Trupanion Insurance
This interview is part of a continuing series of pet health insurance company interviews. I am using the same ten questions for a variety of veterinary health insurers so that viewers can learn about each company and compare what plans are available. In this interview, Melissa Kowalchuk, a representative from Trupanion insurance, answers ten questions about pet care plans available through Trupanion.
NOTE: Trupanion is a sister company to Vetinsurance in Canada, that Melissa also provided interview answers for.
Question 1: How long has your company been in business, and where are you based?
Answer 1: Trupanion started as Vetinsurance up in Canada in 1999 and we issued our first policy in December of 2000. Trupanion became available in the US in January of 2008. Trupanion is located in Seattle, Washington.
Question 2: Are clients able to go to any veterinarian, or only through your insurance providers?
Answer 2: Clients with Trupanion can choose any licensed veterinarian in the US, or while temporarily visiting Canada, including referral specialists. Trupanion pet insurance follows an indemnity insurance (reimbursement) model where the pet owner pays his or her veterinarian upfront, then submits the claim to us. We would then reimburse the pet owner 90% for approved claims based off of the actual veterinary costs that the pet owner incurred.
Question 3: Are hereditary and breed-related conditions covered?
Answer 3: Yes, Trupanion covers all hereditary and breed-related conditions, with hip dysplasia coverage as the only optional add-on.
Question 4: Are age-related (senior) checkups, illnesses, and medications covered?
Answer 4: Senior checkups are not currently included in the Trupanion plan, as this qualifies as preventative or routine care, which Trupanion doesn't cover. Senior illnesses and medications would be covered.
Question 5: Does your company offer wellness plans?
Answer 5: Trupanion does not cover expected veterinary costs (the ones that you can plan for) because we believe the pet owners should keep the dollars in their pocket rather than paying us to handle their check book. Dollar trading for routine Vet visits would double monthly premiums without adding value. Instead, Trupanion offers an affordable and practical type of pet health insurance that covers major costs that you can't anticipate.
Question 6: What types or levels of health insurance medical plans are offered?
Answer 6: We offer one plan that covers all accidents and illnesses without imposing a deductible, but pet owners can choose to have a deductible to lower their monthly premiums. A deductible with Trupanion can range from $0-$1000.
Question 7: If a wellness plan is available, can it be added to, or incorporated with, the medical health plan?
Answer 7: NA
Question 8: Is there an annual or lifetime benefit cap?
Answer 8: Trupanion currently has a lifetime cap set at $20,000, however, over the history of the company this cap has increased from $10,000 to the current $20,000. Subject to state approval, the lifetime cap may increase to reflect the increase in the local cost of veterinary medicine.
Question 9: How are "usual and customary" fees determined?
Answer 9: Trupanion doesn't use a "usual and customary" fee guide of any sort, but rather reimburses based off of actual veterinary bill subject to fees no greater than the amount charged to any other client of the treating veterinary clinic. Trupanion holds the stance that a pet insurance company should never dictate what veterinarians are charging their clients, and therefore will never set any type of benefit schedule or "usual and customary" fees.
Question 10: What specific things stand out about your company? (i.e. strengths, unique offerings, etc.) Feel free to ad-lib here.
Answer 10: Trupanion has been around for 10 years while receiving the highest customer reviews in Canada and earning the industry's highest retention rates. In the US we are underwritten by American Pet Insurance Company who is also owned and operated by Trupanion, making the company less vulnerable to risks outside its control. Trupanion's high-deductible policies are the first to have received the AAHA Seal of Acceptance (http://www.healthypet.com). Trupanion's founder and CEO, Darryl Rawlings, helped create the North American Pet Health Insurance Company (www.naphia.org), which Trupanion is currently a member with.
Thank you, Melissa Kowalchuk, for taking time to answer these questions.
Please visit the Trupanion web site to learn more and ask any specific questions you may have. Company web site: Trupanion Pet Insurance
Pet Insurance Interviews >Trupanion Insurance
