Pet Health Insurance One of Fastest-Growing Employee Benefits

BREA, Calif., June 14, 2016 /PRNewswire/ -- National "Take Your Dog to Work Day" is slated for Friday, June 24. While not all companies allow furry four-legged friends in the workplace, one in every three Fortune 500 companies offers pet insurance as a voluntary benefit, making it available to millions of employees throughout the U.S.  

As one of the fastest-growing voluntary benefits in the U.S., more than 5,000 companies and organizations have added Nationwide^® pet insurance to their voluntary benefits portfolio, including Chipotle Mexican Grill, Hewlett-Packard, Levi Strauss & Co., Microsoft, T-Mobile, Xerox, adidas and Yahoo!.

"Since 65 percent of Americans own at least one pet, two-thirds of employees may be shouldering sizable pet care costs," said Scott Liles, president and chief pet insurance officer for Nationwide. "Offering pet insurance as a voluntary benefit will appeal to prospective pet lovers and help retain current pet-owning employees."

 As the popularity of pet health insurance expands, some companies are subsidizing a percentage of their employee's cost, with several employers now paying as much as 100 percent of their employees' pet insurance premiums.

"With the cost of core benefits on the rise, companies are looking for offerings that can be added to a benefits portfolio at no expense to the employer," said Liles. "Pet insurance fills that need."

When a company adds Nationwide pet insurance to its benefits package, employees are eligible for a five percent discount on their medical policy premium. Many companies allow employees to pay their premiums via payroll deduction, with no administrative responsibilities for employers.

About Nationwide pet insurance

With more than 575,000 insured pets, pet insurance from Nationwide, formerly known as Veterinary Pet Insurance^® (VPI), is the first and largest pet health insurance provider in the United States. Since 1982, Nationwide has helped provide pet owners with peace of mind and is committed to being the trusted choice of America's pet lovers.

Nationwide plans cover dogs, cats, birds and exotic pets for multiple medical problems and conditions relating to accidents, illnesses and injuries. Wellness coverage for routine care is available for an additional premium. Medical plans are available in all 50 states and the District of Columbia.

Insurance plans are offered and administered by Veterinary Pet Insurance Company in California and DVM Insurance Agency in all other states. Underwritten by Veterinary Pet Insurance Company (CA), Brea, CA, an A.M. Best A rated company (2013); National Casualty Company (all other states), Madison, WI, an A.M. Best A+ rated company (2014). Nationwide, the Nationwide N and Eagle, and Nationwide Is On Your Side are service marks of Nationwide Mutual Insurance Company. ©2016 Nationwide. Pet owners can find Nationwide pet insurance on Facebook or follow on Twitter. For more information about Nationwide pet insurance as a voluntary benefit, call 855-874-4944 or visit PetsVoluntaryBenefits.com.

About Nationwide

Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A+ by both A.M. Best and Standard & Poor's. The company provides a full range of insurance and financial services, including auto, commercial, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; banking and mortgages; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com.

Nationwide, Nationwide is on your side, Join the Nation and the Nationwide N and Eagle are service marks of Nationwide Mutual Insurance Company.

CONTACT: Adam Fell(714) 706-5652
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SOURCE Nationwide