Pet Insurance on the Rise

A recent CNBC program reported that pet health insurance has become the third most requested voluntary benefit in the U.S. workplace. This stands to reason as Americans spend an estimated $18 billion annually on veterinary care. If you've ever had your Labrador Retriever gulp down one of your children's toys, only to follow it up with a visit to the vet and a costly barium enema, you can relate. 62 percent of U.S. households own at least one pet. Yet only 2 percent of those households own pet health insurance.