Pet Insurance University
A Vet's Guide To Pet Insurance |
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A Vet's Review of Nationwide Pet Insurance
by Frances Wilkerson, DVM
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Overview | |
Nationwide acquired VPI in 2015. VPI was started in 1982.
This review refers to the following dog and cat plans: Modular Pet Insurance Plan, Whole Pet and Major Medical. |
Coverage Overview | |
In general, the Modular, Whole Pet and Major Medical plans cover examinations, diagnostics and lab tests, surgery, treatments, hospitalization, and prescription medications for accidents/injuries and illnesses as long as the condition is not pre-existing, has not occurred during the waiting period, and you have not reached your maximum payout. The way the Modular Pet Insurance Plan is structured, illness coverage is optional. Dental coverage for accidents and illnesses is limited for both plans. |
Coverage For Chronic Diseases & Continual Coverage For Chronic Diseases | |
Modular Pet Insurance Plan The Modular Plan offers chronic diseases coverage and continual coverage for chronic conditions as long as the condition is not pre-existing, has not occurred during the waiting period, and you have not reached your maximum payout. You must purchase accident AND illness coverage to get this coverage. The way this plan is structured, illness coverage is optional. Whole Pet Plan The Whole Pet Plan offers chronic diseases coverage and continual coverage for chronic conditions as part of the base policy as long as the condition is not pre-existing, has not occurred during the waiting period, and you have not reached your maximum payout. Major Medical Plan For the Major Medical Plan, chronic diseases listed in the benefit schedule are covered, as long as the condition is not pre-existing, has not occurred during the waiting period, and you have not gone over the maximum benefit allowance for the diagnosis/treatment for the year. Unfortunately, the benefit schedule structure makes it too difficult to determine how comprehensive the chronic disease coverage will be. It would take too much time to check the benefit schedule against every known chronic disease. It would be much easier for the consumer if Nationwide stated which medical conditions are not covered. The Major Medical Plan offers continual coverage for chronic diseases. Coverage for chronic conditions in subsequent years is available up to the benefit allowance for the diagnosis/treatment. Benefit schedule allowances are reset every policy year. |
Hereditary & Congenital Coverage | |
Modular Pet Insurance Plan The Modular Pet Insurance Plan covers hereditary and congenital conditions as long as the condition is not pre-existing, has not occurred during the waiting period, and you have not reached your maximum payout. You must purchase accident AND illness coverage to get Hereditary and Congenital coverage. The way this plan is structured, illness coverage is optional. Illness coverage comes with removable Hereditary and Congenital coverage. Hereditary and Congenital conditions (including hip dysplasia) will only be covered up to $5,000/year. Whole Pet Plan The Whole Pet Plan covers hereditary conditions as long as the condition is not pre-existing, has not occurred during the waiting period, and you have not reached your maximum payout. It is unclear if congenital conditions are covered. It is not explicitly stated on the website or in the sample policy at the time of this writing. Major Medical Plan Monetary and medical coverage for hereditary and congenital conditions is low for the Major Medical Plan The Major Medical Plan does not cover congenital conditions and has limited coverage for hereditary conditions. With the Major Medical Plan, coverage for a certain number of specified hereditary conditions becomes available after you've had the plan for one year. The monetary limits on this coverage are $275 per policy period toward diagnosis or medical treatment and $550 per policy period for surgical treatment. Hip dysplasia is one of these covered conditions. Hereditary and congenital is one of the important pieces of coverage that must be part of any pet insurance plan you purchase. (See: 5 Points of Coverage Your Pet Insurance Plan Must Have) |
Cancer Coverage | |
Modular Pet Insurance Plan The Modular Pet Insurance Plan covers cancer conditions as long as the condition is not pre-existing, has not occurred during the waiting period, and you have not reached your maximum payout. You must purchase accident AND illness coverage to get this coverage. The way this plan is structured, illness coverage is optional. Also make sure the illness coverage has hereditary and congenital coverage selected as well otherwise cancers deemed hereditary/congenital in nature will not be covered. Whole Pet Plan The Whole Pet Plan covers cancer conditions as long as the condition is not pre-existing, has not occurred during the waiting period, and you have not reached your maximum payout. Major Medical Plan Cancers listed in the benefit schedule are covered, as long as the condition is not pre-existing, has not occurred during the waiting period, and you have not gone over the maximum benefit allowance for the diagnosis/treatment for the year. Again, the benefit schedule structure makes it too difficult to determine how comprehensive the cancer coverage will be. It would be much easier for the consumer if Nationwide stated which cancer conditions are not covered. If a cancer is shown to be due to hereditary/genetic reasons, there is a possibility that it will not be covered. |
Coverage For Breed Specific Conditions | |
Modular Pet Insurance Plan The Modular Pet Insurance Plan covers breed specific medical conditions as long as the condition is not pre-existing, has not occurred during the waiting period, and you have not reached your maximum payout. You must purchase accident AND illness coverage to get this coverage. The way this plan is structured, illness coverage is optional. Since, many Breed Specific conditions can occur as Hereditary/Congenital, make sure the illness coverage has hereditary and congenital coverage selected as well. Whole Pet Plan The Whole Pet Plan covers breed specific medical conditions as long as the condition is not pre-existing, has not occurred during the waiting period, and you have not reached your maximum payout. However, it is unclear whether or not Breed Specific Conditions that are Congenital in nature are covered. It is not explicitly stated on the website or in the sample policy at the time of this writing. Major Medical Plan Breed specific medical conditions often occur as hereditary/congenital issues. The Major Medical Plan does not cover congenital conditions and has limited coverage for hereditary conditions, therefore coverage for breed specific conditions is low. |
Maximum Payout Structure | |
Whole Pet Plan Modular Pet Insurance Plan The Modular Pet Insurance Plan has a $5,000 or Unlimited annual maximum payout. In either case, Hereditary and Congenital conditions will only be covered up to $5,000/year. Whole Pet Plan The Whole Pet Plan has an annual maximum payout structure of $10,000. This maximum payout structure will meet the needs of those whose calculated "Worst Case Scenario Costs" are $10,000 or less. (See: Picking the Right Maximum Payout) Major Medical Plan The Major Medical Plan has a benefit allowance structure. This means there is a benefit allowance that will limit what you will receive for the medical condition's diagnosis and treatment each year. The benefit allowance may be too low for those with high calculated "Worst Case Scenario Costs". (See: Picking the Right Maximum Payout) |
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