The Reimbursement Process
We'll explain everything you need to know about the reimbursement process here. Here is more information on how a benefit schedule for pet insurance works.
Reimbursement Methods
As you shop for pet insurance rates, you will likely come across two different reimbursement methods: a benefit schedule and "reasonable and customary fees" that can change at an insurer's discretion. On this page, we will focus on the benefit schedule method, as it tends to be the better deal for consumers.
Ideally, you will want to get pet insurance rates from a company that has a benefit schedule filed with the Department of Insurance so you will know exactly how much you will be reimbursed for your pet's medical expenses.
The Reimbursement Process
If you get pet insurance rates from a company with a benefit schedule system, here is how the reimbursement process will work:
- Visit your vet. You pay for treatment out-of-pocket at the time of service.
- Submit your claim to your insurer. You can fax or mail your claim form and receipts to your insurance company for processing.
- Receive a reimbursement check. After subtracting your deductible, which is usually around $50, your insurance company will reimburse you for the percentage of expenses agreed upon in your policy.
Reimbursement Example
To give you an idea of how reimbursement works with the policies on which you will get pet insurance rates, here is a brief example. Let's say your dog swallows a foreign object and requires surgery and anesthesia that costs $1270.00. Your benefit schedule allowance per incident for these expenses totals $1059.00. You then subtract a $50 deductible from the $1059.00 of eligible expenses to get a $1009.00 subtotal. If you have a plan that reimburses you for 90% of eligible expenses, you will then receive a check for $908.10, or 90% of the subtotal. For more details, please read our how it works page.
