It’s open enrollment season. That’s the time when we struggle to figure out how our health insurance has changed and how other employment benefits are different, better or gone.
The people charged with explaining the changes and new benefits, and those taken away are human resource departments. Some employees might view HR as barely human resources but that’s a story for another day.
That said, the Hartville Pet Insurance Group did a survey on pet insurance at the annual meeting of the Society for Human Resource Management (SHRM). The topic was benefits and specifically new benefits.
Pet insurance — it seems — is the hot new benefit. Hartville partners with the ASPCA — the American Society for the Prevention of Cruelty to Animals — and representatives of both say more than 1,000 organizations offer their partnered pet insurance.
The American Pet Products Association (APPA) says 68% of us now have some form of pet insurance for our pets. And it seems to be needed. By the end of this year we will have spent $15.3 billion on veterinary care for our pets.
The survey of the HR people shows that many companies are adding — or plan to soon add — pet insurance as a benefit.
Hartville’s JoAnne Novak said, “Pet insurance is a great voluntary benefit because so many employees today consider their pets part of the family. It’s a positive way for a company to show they care about an employee’s pets as well as the rest of their family.”