Consumer Reports Gets Rational About Health Insurance
Well…at least for pets, according to Pamela Yip of The Dallas Morning News (gated):
“In the event that your pet needs some very expensive surgery or has a very expensive condition, then insurance can pay for it. But for regular routine care, we [Consumer Reports] didn’t find it to be worthwhile,” she said…
“If you plan to use the insurance for catastrophic coverage – say $1,000 and up – go for the highest deductible you can comfortably afford.” Your other option is to, in effect, self-insure your pet by saving more. “We feel for most people, it probably makes sense to budget, put money aside for regular care, shots, well care and regular annual exams,” said Stanger of Consumer Reports.
It’s about time.
I would never get a pet without budgeting first. They will cost, sometimes in the thousands.
“Pet insurance” I’ve seen offered at my vet’s is essentially an offer for a credit card — an extention of credit. Unfortunately, most people don’t have a credit card with a $200K line that they can use to pay cash for their own hospitalization.
yeah it’s about time.
Agree with Bruce and Brian. What took them so long?
Too bad the story uses the term pet in front of insurance. It would have been much better if Consumers’ Reports were talking about health insurance for humans.