Banfield Pet Hospital has been around since 1955, so it’s certainly a reputable establishment. However, contrary to popular belief, the hospital does not offer traditional veterinary health insurance.

Banfield offers several “Optimum Wellness Plans” for cats and dogs. Think of them as annual health-maintenance plans that cover the basics and provide additional discounts. You can pay for the year upfront or make monthly payments.

According to the Banfield Pet Insurance website, these plans provide:

• Up to 50 percent savings over standard care with free office visits for life
• Discounts on many veterinary services
• A vaccination of up to $1000
• The freedom to use any of Banfield’s locations in the US and overseas

But be cautious. Once you buy the plan, it’s yours for the year—no cancellations allowed. That means Banfield won’t reimburse you if your pet passes away a month after you bought the plan. If you opted to pay monthly, you’ll still have to finish making payments for the year.

Banfield Pet Insurance Review

Rating: 8

Our review process starts with calling each of the insurance providers over the telephone.

I spoke with Ilirio at Banfield Pet Hospital to get quotes for 3 pets:

• A 2-year old male Yorkshire Terrier
• A 6-year old male Cocker Spaniel
• An 8-year old female mixed breed cat

Unlike traditional pet insurance companies, Banfield does not reimburse you for a percentage of treatment after you meet deductibles and copayments. Instead, they offer wellness plans—bundles of pre-paid preventative services— to help eliminate illnesses before they occur. You commit to an annual term with payments broken into 12 installments. Once you purchase a plan, you choose one of 800 national Banfield-affiliated locations to serve as your “home hospital” where your pet will receive all the treatments.

THE PLANS:

I have several choices for the dogs:

The Adult Pet Health Care Plan

Primary $25.95/month

Basic $31.95/month

Basic Plus $39.95/month

Optimum $49.95/month

The Primary plan is the least comprehensive, whereas the Optimum plan covers almost everything, from vaccinations and exams to dental hospitalizations. The Primary offers 5% off additional services; the Basic, 10%; the Basic Plus, 15%; and the Optimum, 20%.

And for the cat:

The Kitten Health Care Package

Basic $15.95/month

Basic Plus $22.95/month

Includes yearly physical exams, leukemia/feline AIDS test, intestinal parasite fecal exams, dewormings, and more. The Basic plan offers 5% off additional services, whereas the Basic plus offers 10%.

Although I did not get this information on the phone, I learned by visiting the website that Banfield also has a Puppy Care Package for dogs six months old or younger.

THE DETAILS:

Since you are purchasing plans that cover the cost of treatments, there are no co-payments or deductibles. The first year, you must pay a one-time fee of $69.95. If you cancel the plan before a year’s up, you must either complete the remaining payments in a lump sum, or reimburse Banfield for the services they covered.

According to Ilario, many customers choose to purchase traditional pet health insurance in addition to their wellness plan. This way they have extra coverage for accidents and illnesses. If you opt not to buy a separate insurance policy, you’ll still receive discounts at Banfield-affiliated hospitals, as indicated above. Also, you get free unlimited office visits for the life of the plan.

CONCLUSIONS:

Surprisingly, Ilirio didn’t do a fantastic job selling me on Banfield. In fact, despite his friendly, helpful demeanor, I had to call three times to get all the information I needed. Still, I’ve decided a Banfield Wellness Plan is a smart bet weighing the following pros and cons:

Pros:

• Office visits are free, so you’ll feel comfortable going in for problems even if they appear minor.
• The most important preventative services are included in even the basic plans.
• The annual cost of each wellness plan is far less than the combined services would cost.
• Banfield provides a small discount on services that aren’t covered.

Cons:

• You commit to a year of payments no matter what—even if your dog gets lost or dies.
• The policies automatically renew.
• You may have to deal with longer than usual wait times.

If you’re interested in a Banfield plan, call 1-866-277-7387.

Tags: Banfield Pet Insurance