Rep. Michael Schlossberg, D-Allentown, is pictured talking throughout a House debate.
There isn’t fairly a wave of pet insurance coverage laws in state legislatures all through the nation, nevertheless it’s changing into a gradual drip.
Pennsylvania is the latest state to ponder such laws after state Rep. Michael H. Schlossberg, D-Allentown, formally launched House Bill 660. It has been despatched to the House Appropriations Committee for consideration.
“We love our pets. For many of us, they are our chosen family and deserve to be protected from accidents as well as unforeseen medical expenses,” Schlossberg wrote in his co-sponsorship memorandum. “Many pet mother and father buy pet insurance coverage to make sure they’ve the monetary assist to handle an emergent medical state of affairs ought to one sadly come up. Pet insurance coverage has boomed during the last a number of years to develop into a multi-billion-dollar trade that covers almost 4 million pets throughout the United States. Despite this growth, there are not any Pennsylvania legal guidelines particularly addressing pet insurance coverage contracts. Thus, pet households are generally left holding the bag for costly veterinarian payments due to unknown ready durations or protection exclusions buried inside their insurance coverage insurance policies. Other customers really feel left in the dead of night as to why they pay greater premiums yr after yr.
Similar laws has been launched within the New York state Legislature, whereas different states with pet insurance coverage payments signed into legislation embody Maine, California, Washington and Mississippi. Pet insurance coverage legal guidelines in Maine, Mississippi and Washington observe a mannequin pet insurance coverage legislation adopted in August 2022 by the National Association of Insurance Commissioners. That mannequin requires insurers clarify disclosures about exclusions; restricts and prohibits ready durations for sure situations or circumstances; makes a distinction between wellness plans and insurance coverage; and specifies coaching for those that need to promote pet insurance coverage.
The Associated Press reported in 2023 that the pet insurance coverage trade had annual premiums of about $2.8 billion in 2021, a rise of greater than 30% from 2020, in response to the National Association of Insurance Commissioners. About 4 million pets are insured within the U.S. According to the 2023-24 American Pet Products Association’s (APPA) National Pet Owners Survey, 86.9 million, or 66% of, households within the U.S. reported proudly owning a pet, and can spend an estimated $143.6 billion on vet care and merchandise (pet meals, treats, provides, dwell animals, OTC drugs, vet care, product gross sales, and different companies) in 2023, up from $136.8 billion in precise prices in 2022.
Mississippi Sen. Walt Michel, a Republican, mentioned throughout legislative deliberation on the Mississippi invoice that pet insurance coverage insurance policies largely cowl illnesses equivalent to damaged bones and most cancers. Injuries which might be costly to deal with, equivalent to a torn ACL in dogs, might need a one-year ready interval below most insurance policies. The Mississippi invoice doesn’t apply to life insurance coverage for pets.
“Pet insurance provides valuable coverage, but consumers deserve to know what is in their pet insurance policy and pets deserve the care they need, no matter the cost,” Schlossberg wrote. “That’s why I will be introducing legislation to provide crucial oversight of pet insurance policies sold in Pennsylvania. This legislation will create a comprehensive legal framework for the sale, solicitation, and negotiation of pet insurance policies within our state, leaving no space for hidden fees or confusion of coverage.”
