A Vet's Review of Pets Best Pet Insurance
2024

• To get exam fee coverage, you must remember to purchase a plan that includes this benefit.
• To get Alternative Care coverage, you must remember to purchase a plan that includes this benefit.
• Any Prescription Medications that are not included in their formulary of covered medications are not covered.
• Dental coverage for accidents and illnesses is limited.

• Strong underwriter
• Coverage when travel out of state, to Canada and any region under US control including territories and military bases.
• Offers an unlimited annual maximum payout structure
• Provides comprehensive coverage in the 5 important areas as part of the base plan:
  1. Chronic disease
  2. Continual coverage for chronic disease
  3. Hereditary/congenital conditions
  4. Cancer
  5. Breed specific conditions

• Contact the Pets Best for information on the specific reasons they may cancel a policy. Given that Nationwide unexpectedly announced the cancellation of over 100,000+ policies in the spring of 2024, it's important to have clarity in this area.
• Their Bilateral Conditions policy doesn't clearly list the medical conditions that fall under this exclusion. There are so many body systems that inhabit both sides of the body (e.g. eyes, ears, knees, hips, front paws, elbows, toenails, kidneys, lungs, femur, etc). Not clearly defining which systems they are referring to leaves a big door open that could allow them to deem something as a bilateral exclusion whenever they see fit. Letting customers know what specific conditions and/or systems fall under this exclusion would be much more transparent. Using the phrasing "...includes, but is not limited to..." just isn't enough.
• Any Prescription Medications that are not included in their formulary of covered medications are not covered. While the list is extensive, and appears to apply to take home medications only, it is hard to get a clear picture if every medication a veterinarian would need in their arsenal to treat patients is covered.
• Based on their pre-existing conditions policy, signs and symptoms can be used to denote something as pre-existing. As with all pet insurance companies that use this wording, I have concerns that this can be used to deny claims even when these previous signs are not related to the disease or condition currently in question.
• With Pets Best, reimbursements are calculated by applying your reimbursement percentage first, then your deductible. This can lead to being reimbursed less than companies that subtract the deductible BEFORE applying the reimbursement percentage.

• Make sure you research what customers are saying about the company. A company may have the 5 components that should be part of a pet insurance plan, but the company may not be a hit with customers. Sites to check include but are not limited to BBB.org, Yelp.com and PetInsuranceReview.com. Things to look for include but are not limited to: How fast are payments paid?, What are customers saying about the pre-existing conditions policy?, How often are claims denied and for what reason?, What is the customer service experience like?
• Check with your state's Department of Insurance to see if any complaints have been filed for the company you are interested in.
• Make sure you understand what the waiting periods are.
• Make sure you understand their bilateral conditions policy.
• Make sure you understand any requirements that you must adhere to to maintain coverage.
• Make sure you read the terms and conditions to get a thorough understanding of all exclusions.
• Make sure you understand when and by how much your premium can increase.
• If you change plan levels, there is a possibility that all medical conditions present under the old plan will be considered pre-existing in the new plan. Make sure you ask the company if this is the case.
• For some companies, pre-existing conditions can be based on signs and symptoms alone, a diagnosis is not needed. For example, if your pet had a cough before you applied for pet insurance and this cough was discussed and written in the pet's medical record, there is the possibility that all future cough conditions, no matter what the cause, would be considered pre-existing - even if there was no treatment given. Make sure you ask the company if this is the case.
• Pet insurance companies are businesses. The top priority of any business is to make a profit for their stakeholders. Pet insurance companies can and may change your rates and terms to meet that top priority. A change of business ownership or underwriters can also be a catalyst for changes in your rates and terms.
  
  When you purchase pet insurance make sure you have a realistic understanding of this and how it can affect you.

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