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Companies throw workers a bone with pet insurance
WASHINGTON — A growing number of US businesses, eager to hang on to top talent, are throwing their most valued employees a bone by offering them a new kind of benefit: health care for their pets.
Large companies like Google, Disney, AOL, HSBC, home improvement chain Home Depot and eBay are now offering health insurance for their employees' cats and dogs, a niche market that has sprung up in the wake of a spike in costs for veterinary treatment.
"We do offer voluntary pet insurance as one of our benefits. Google is committed to helping our employees lead healthier lives, and we try to support personal well-being in a number of ways," Google spokesman Jordan Newman told AFP.
"We know that pets can be an important and valued part of our employees' lives and we want them to have the option to enroll in this benefit," he adds.
"Ultimately, we believe that work-life balance is key to healthy working environments, and to that end our benefits strive to make life easier for Google families."
David Lummis, a market specialist at Packaged Facts, a consulting market research firm, points out that pet insurance is relatively cheap.
"It's a fairly low-cost way for companies to attract employers and to retain them," he said.
In general, companies get a discount on insurance premiums for pets from the insurance companies they use for their employees.
Following the lead of the British market, the sale of veterinary insurance for animals has grown exponentially in the United States over the...read more.
