Reimbursement Formula - Why The Fine Print In Your Pet Insurance Plan Matters | PetFirst
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Reimbursement Formula – Why The Fine Print In Your Pet Insurance Plan Matters

by PetFirst Pet Insurance
1 year ago

In our series – Why The Fine Print In Your Pet Insurance Plan Matters – we are educating customers on loopholes in their dog insurance or cat insurance plans which could cause disappointment in coverage down the line.

You can download our entire Pet Insurance Guide: Why The Fine Print Matters.

Today’s topic: 
Reimbursement Formula

What is this?

Remember when your teacher told you math was important and you’d use it when you grew up – turns out they were right. The formula or equation used for reimbursement can make a difference in what goes back into your pocket.
 

How does this affect you?

With all pet insurance plans, you select your deductible and reimbursement percentage – however, depending on when these are applied in the formula can make a difference in your reimbursement amount. If your deductible is subtracted before applying your reimbursement percentage, it will provide you with more money back.
 
Best Reimbursement Formula:
(Vet Bill – Deductible) x Reimbursement = Money Back
($1,000 – $100) x 90% = $810
($2,500 – $250) x 90% = $2,025
 
Less Reimbursement Formula:
(Vet Bill x Reimbursement) – Deductible = Money Back
($1,000 x 90%) – $100 = $800
($2,500 x 90%) – $250 = $2,000
 

Which Pet Insurance Companies Do Not Cover Use The Best Reimbursement Formula:
 

  • Petplan

 

Where Does PetFirst Stand?

PetFirst uses the best reimbursement formula to maximize the amount back to the pet parent. We know you are counting on us to provide the best reimbursement possible, which is why we utilize the following formula:

(Vet Bill – Deductible) x Reimbursement = Money Back

Download Pet Insurance Guide

Download Pet Insurance Guide
 

In this series, we deep dive into the other following areas where coverage could be lacking if you have another pet insurance company’s plan:

Now that you’ve done your research on pet healthcare plans, you can see PetFirst provides the most comprehensive, best pet insurance plan for dogs and cats. With no “gotchas” in the fine print, you can rest easy knowing you are able to give your pet the care they need.

How much does pet insurance cost?

In less than 2 minutes, you can get a customized quote for your pet.
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