Does pet insurance cover medication?

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Published on September 05, 2024 | 6 min read

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Buying a pet insurance policy for your pet can help soften the financial blow of unexpected vet bills. Depending on the policy, your pet insurer may cover prescription drugs, chronic medications or even specialized prescription diets tailored to your pet’s health needs.

Understanding how medication coverage works within pet insurance is crucial for making an informed decision about your pet’s care and ensures that your pet gets the best care without the vet bill breaking the bank.

By familiarizing yourself with what is or isn’t covered, you can choose a policy that aligns with your pet’s medical needs and your finances.

Pet insurance and medications

Pet insurance can help cover the costs of various medications, from treatments for sudden illnesses to ongoing management of chronic conditions.

Coverage typically includes prescription medications needed for acute and long-term health issues. However, the extent of coverage can vary among insurance providers, making it important to compare plans and understand what each policy offers.

Chronic vs. prescription medication for dogs and cats

Prescription drugs and chronic medications are not synonymous, so it’s important to understand the difference between the two to avoid disappointment or frustration when you need to use your coverage.

Prescription drugs are prescribed in the short term to treat specific conditions such as infections or injuries and are generally covered by most insurance plans.

Chronic medications, on the other hand, are used to manage long-term conditions like diabetes or arthritis. Coverage for chronic medication can vary widely, with some plans covering them fully, and others imposing limitations or exclusions. In most cases, chronic medications for pre-existing conditions aren’t covered.

Prescription foods

In addition to medications, some pet insurance policies extend coverage to prescription diets.

These specialized foods, recommended by veterinarians for managing conditions such as kidney disease or food allergies, can help support your pet’s health, especially for pets with chronic conditions that require long-term dietary management.

While coverage for prescription diets is less common, it can be a valuable addition to a pet insurance policy, benefiting both your pet and your wallet. These prescription diet foods generally don’t come cheap, but a policy that includes coverage for them can help offset the cost of these pricey foods.

How medication coverage works with pet insurance

Medication coverage under pet insurance can encompass both short-term prescriptions and long-term chronic medications. Policies and their coverage can vary widely, so it’s important to understand the specifics of your coverage, including reimbursement rates, deductibles and annual or lifetime caps on payouts.

Some policies may only cover medications after you’ve met your deductible, while others might offer immediate coverage.

Reimbursement rates can also differ. Some plans may offer up to 90 percent reimbursement for covered medications, while others might offer less. On top of that, the annual or lifetime payout caps can limit how much your insurance covers over time.

Understanding these aspects is crucial to maximizing the benefits of your pet insurance and ensuring that your pet’s medication needs are adequately covered. If you’re not entirely sure how pet insurance works, it may help to read the fine print of a policy before purchasing it.

Pet prescription costs with health insurance

The costs of prescription and chronic medications can add up quickly, especially for chronic conditions you need to manage on an ongoing basis.

Pet insurance can help reduce these costs, but it’s important to weigh the potential savings against the cost of premiums, deductibles and co-pays. Comparing these factors can help you assess whether the insurance plan you’re considering adequately covers your pet’s medication expenses.

For example, if your pet requires daily medication for a chronic condition, the cost of those medications can quickly exceed the cost of your pet insurance premiums. In such cases, having a plan that covers chronic medications can save a significant amount of money in the long run.

On the other hand, if your pet is generally healthy and only needs occasional prescriptions, a plan with lower premiums and higher deductibles might be more cost effective.

Insurance companies that cover pet medications

Some of the best pet insurance companies offer coverage for pet medications, whether prescription, chronic or both. Many of the companies listed below also offer coverage for prescription foods.

Be mindful that certain coverage may only be available when you purchase higher-tier plans or, in the case of special diets, an added wellness or preventive care plan or add-on.

Terms and conditions typically stipulate whether a specific medication is covered. For example, many policies will only reimburse you for medication or food that a licensed veterinarian prescribed to treat a covered condition.

ASPCA Pet Health Insurance

ASPCA Pet Health Insurance is affiliated with the American Society for the Prevention of Cruelty to Animals, a well-known animal welfare organization. The insurer (not to be confused with the welfare organization itself) offers a variety of customizable plans and covers medications prescribed by a licensed veterinarian for covered conditions under its Complete CoverageSM plan.

Covers prescription medication: Yes
Covers chronic medication: Yes
Covers prescription pet foods: Yes

Embrace

Embrace offers highly customizable insurance plans, including the unique feature of a diminishing deductible, which reduces the deductible for each year without a claim. Embrace covers FDA-approved and pharmacopeia-included prescription medications. While the company offers some chronic condition coverage, it’s important to factor in the limited lifetime caps.

Covers prescription medication: Yes
Covers chronic medication: Yes
Covers prescription pet foods: Yes

*Only under the Wellness Rewards add-on

Figo

Figo is a modern, tech-forward pet insurance provider offering a user-friendly app that integrates social features and cloud-based claims processing. While it covers prescription medications, Figo’s coverage for chronic conditions is limited, which might be a drawback for some pet owners.

Covers prescription medication: Yes
Covers chronic medication: Yes
Covers prescription pet foods: Yes

Healthy Paws

Healthy Paws is recognized for its straightforward approach, offering a single, comprehensive plan that covers a wide range of treatments, including prescription medications. The company is particularly known for its unlimited lifetime coverage, meaning there are no caps on claims.

Covers prescription medication: Yes
Covers chronic medication: Yes
Covers prescription pet foods: No

Lemonade

Lemonade is a tech-driven insurance company known for its fast claims processing and charitable giving model, where leftover premiums go to causes of your choice. Its pet insurance plans are affordable and designed for quick and easy management through its intuitive app — and Lemonade policies cover prescription medications.

Covers prescription medication: Yes
Covers chronic medication: Yes
Covers prescription pet foods: No

ManyPets

ManyPets, originally launched in the U.K., has expanded to the U.S. with its flexible and comprehensive coverage options. It stands out for offering coverage for prescription medications under its standard accident and illness plan, alongside various optional wellness add-ons. ManyPets is particularly noted for its emphasis on preventative care, making it a great choice for pet owners seeking extensive care options.

Covers prescription medication: Yes
Covers chronic medication: Yes
Covers prescription pet foods: No

MetLife

MetLife Pet Insurance, a reputable name in the insurance industry, provides flexible and customizable pet insurance plans. Known for its comprehensive coverage options, MetLife allows pet owners to tailor their policies by choosing their reimbursement rate, deductible and annual limits. This adaptability makes MetLife a strong choice for those seeking personalized insurance solutions.

Covers prescription medication: Yes
Covers chronic medication: Yes
Covers prescription pet foods: Yes

Nationwide

Nationwide is one of the few pet insurers that extends coverage beyond cats and dogs to include exotic pets. Known for its comprehensive Whole Pet with Wellness plan, Nationwide covers prescription medications and even prescription diets, although its coverage for chronic conditions may have certain limitations.

Covers prescription medication: Yes
Covers chronic medication: Yes
Covers prescription pet foods: Yes

Pets Best

Pets Best is known for its flexibility and affordability, offering a variety of plans that cater to different needs, including accident-only and comprehensive options. The company stands out for its quick claims processing and the ability to customize your plan with options like wellness coverage.

Covers prescription medication: Yes
Covers chronic medication: Yes
Covers prescription pet foods: No

Spot Pet Insurance

Spot Pet Insurance, endorsed by famous dog behaviorist Cesar Millan, offers a range of customizable insurance plans with a focus on flexibility and preventive care. Spot allows pet owners to tailor their policies with various add-ons and options, including coverage for behavioral treatments.

Covers prescription medication: Yes
Covers chronic medication: Yes
Covers prescription pet foods: Yes

Trupanion

Trupanion is known for its direct vet payment system, which eliminates the need for pet owners to pay out of pocket and wait for reimbursements. This feature, along with no payout limits on claims, makes Trupanion a top choice for pet owners seeking hassle-free, comprehensive coverage.

Covers prescription medication: Yes
Covers chronic medication: Yes
Covers prescription pet foods: Yes

The bottom line

Choosing the right pet insurance involves understanding your pet’s health needs and matching them with the right policy. Evaluate your pet’s health, consider potential future conditions and compare different insurance plans. Pay attention to what each policy covers, especially concerning chronic medications and prescription diets, as coverage for these items varies by insurance company.

By making an informed choice, you can help get your pet the necessary care without overwhelming financial stress.

Frequently asked questions

Yes, many pet insurance policies cover anxiety medications if prescribed by a veterinarian for a covered condition. Coverage may vary, so it’s important to review the specific terms of your policy.
Prescription pet food is specially formulated to manage or treat specific health conditions, such as kidney disease or severe allergies. These diets are often considered part of a pet’s medical treatment plan, which is why a veterinarian’s prescription is required if you want reimbursement from your insurer.
Reimbursement rates for chronic medications typically range between 70 percent and 90 percent of the cost after you meet your deductible. However, many pet insurance policies have annual or lifetime caps, limiting the total amount they will reimburse for chronic medications and other covered expenses.

Review your policy’s specific terms to understand these limits and ensure they meet your needs.