BASIC - Pet Wellness Reimbursement - Claremont Insurance Services

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BASIC – Pet Wellness Reimbursement

Sep 13, 2021, 2 Minute Read

Many employers have shifted to either temporary or permanent work-from-home policies due to the pandemic. As a result, a large percentage of employees have spent more time at home and around their pets.

An essential part of the family, pets offer companionship and comfort, however, they also require care. And pet care can be expensive and stressful. To help address the costs and stress of pet care, employers should offer a pet wellness reimbursement account. The benefit acknowledges the importance that pets play in employees’ lives and comes at a time when quality-of-life issues have played an increasing role in how people select their employers.

Reimbursable pet expenses are determined by the employer and can be tailored to the employee’s specific needs. Benefit funds can be used for expenses such as food, grooming, training classes, pet insurance, boarding, and the purchase or adoption of a pet.

Plus, pet wellness reimbursement funds can be used for travel harnesses, dog walking fees, automatic feeders, and many other expenses to help employees that will be returning to the workplace with or without their pets.

Pet Wellness Reimbursement Benefits

Help employees focus.
Employees who own pets may be more focused and less stressed at work if they know their animals are receiving care without the financial burdens. Happier workers with less anxiety make healthier workers, which is a good investment for the employer.
Encourage pet ownership.
Pet wellness reimbursements can make the choice to purchase or adopt a pet an easier decision; employees know their pets’ expenses will be easier to manage. Research has shown that owning a pet helps to soothe anxiety and reduce blood pressure.
Demonstrate to employees that the employer cares.
Offering pet wellness reimbursement benefits also supports the idea that employees deserve to enjoy quality home life and leisure time with their family members.
Enhance the employer’s competitiveness.
Offering pet wellness reimbursement benefits helps to position the company as a forward-thinking organization that offers outstanding benefits to recruit and retain great employees.

Why Pet Benefits Matter

73% of Millennial pet parents would go into debt to provide for their pet’s well-being.¹
62% of Millennial pet parents would put their pet’s health before their own.²
58% of employees would choose a pet-friendly employer over an employer who is not.³

Appreciated by all pet owners, pet wellness reimbursements are a fringe benefit that gives employees the financial flexibility to improve the lives of their pets and even their own.

With BASIC’s Fringe Benefit Accounts, employers can offer reimbursement funds for different lifestyle expenses including gender affirmation, fertility, pet wellness, and other similar expenses that aren’t included in traditional benefits packages.

To learn more, check out the BASIC website and contact us at 800.696.4543 or info@claremontcompanies.com for assistance when you’re ready to enroll a group in a BASIC plan.

Questions?
Contact The Claremont Answer Team at 800.696.4543 or info@claremontcompanies.com.

¹2019 Employee Benefit Adviser “5 benefit perks to entice top millennial talent to your clients.”
²2019 HealthPocket Info Poll: https://www.healthpocket.com/healthcare-research/surveys/how-millennials-approach-health-insurance#.X_N5EC9h1TY
³2019 Mars Petcare “Better Cities for Pet” Annual Report.

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