Since 2012, I have had coverage for my 13.5-year-old border collie, Tara, through Nationwide Pet Insurance’s Major Medical and CareGuard plans. We have both the Major Medical and CareGuard plans, so I was relieved to learn that she had recently been diagnosed with arthritis and thought, “Thank God I have Nationwide.” After that, I learned that her arthritis medication has a $700 cap, and I had just paid $1,400 for a single veterinarian appointment. I am surprised by this restriction after forking over more than $15,000 in premiums. While I work to find a solution, I wanted to caution other pet owners to carefully evaluate their regulations, especially those who have elderly animals. Has anyone else experienced anything similar, or been successful in raising these caps?
I am sorry to hear about Tara’s sticker shock incident at the veterinarian. Not what you had in mind. After years of working in the human health insurance business and extensive research on pet insurance, I can honestly state that Nationwide’s quote and policy website is among the most incomprehensible things I have ever come across. I am not the only insurance professional who finds it confusing at times. Market Watch finds Nationwide to be unclear as well. My impression is that the Major Medical plan has a schedule of benefits reimbursement mechanism, but I could be absolutely wrong. In essence, they have a list of diagnoses together with the maximum annual payment they will make for each ailment. This is antiquated and downright ridiculous. Pet insurers have begun paying actual vet fees instead of utilizing a schedule of benefits to cap by diagnosis since the early 2000s. However, it appears that Nationwide still uses the outdated Major Medical plan. However, they also provide more all-inclusive programs. They have, I believe, four or five basic plans, which is simply too numerous to keep track of.
I concur. I had Nationwide for many years, but they only paid for 90% of my expenses since the premiums were too high. Their entire policy covered the cost of the actual veterinary bill. Reading the policy and asking questions is the best advise I can provide to anyone considering pet insurance. If not, you will be taken aback when it comes to reimbursement. I do not think the original poster will have much chance getting paid unless there was a significant error made by Nationwide.
I am aware that Nationwide has a substantial market share, primarily as a result of their promotion of employee benefits to companies. But because it is hard to understand their plans, I do not usually endorse them much, both here and in person. They are often really perplexing, Regretfully, there are not many consumer rights in the pet insurance industry. Additionally, it appears that insurance commissioners are uninterested in acting, most likely due to the industry’s tiny size. Therefore, OP and other people who might feel taken advantage of have very limited options. It is awful.
Totally concurred. Since my workplace partnered with MetLife in January, I have relocated my pet there and am more pleased.
I am happy that MetLife has improved for you. To be honest, many people appear to find nationwide to be a hassle.