Younger generations experience the greatest weight of this anxiety; the Pet Parenthood Today study found 87 percent of Gen Z pet parents and 85 percent of millennial pet parents experience significant anxiety related to pet care costs. In fact, according to the North American Pet Health Insurance Association’s (NAPHIA) 2023 State of the Industry report, despite rising economic pressure, demand for pet insurance continues to increase. Location aside, now is the optimal time for veterinarians to encourage uninsured pet owners to look into their pet insurance options. Pet owners with pet health insurance say they are “more likely to go to the vet” than those without pet health insurance.3 This reduces the chance of veterinarians having to guide pet parents through difficult decisions. So, what do we need to know about pet health insurance moving forward?

Source: Forbes May 01, 2024 10:56 UTC