Pet insurance plans generally fall into one of two categories: the inexpensive plans that don’t cover much and the comprehensive plans that cost a paw and a leg. Either is probably better than paying out of pocket if your best friend (non-human division) needs medical attention but they’re not that much better. Then there’s Eusoh. It isn’t insurance, it’s better than insurance, a subscription-based health sharing plan that’s helping pet owners afford their pets’ medical bills. Here’s how it works.
Dog and cat owners can join Eusoh and have their pet’s medical, wellness, illness, and routine care expenses reimbursed. The key difference between Eusoh and insurance is who does the reimbursing. It’s not an insurance company that collects premiums and tries to pay out as little as possible to maximize profits. Instead, it’s a community of pet owners who simply want to ensure that their future bills will also be covered.
That makes Eusoh a sort of clearinghouse for pet healthcare costs. It collects a fee of $17 from each member every month and arranges for those members to reimburse each other for their pets’ medical, wellness, illness, and routine care expenses.
Eusoh members pay for their pet’s medical expenses, take a picture of the receipt, and simply submit it to their member dashboard. The company verifies the expense and sends out reimbursements at the end of each month. The amount is calculated based on national average prices for the procedure or service in question with an adjustment for how prices differ across the country. Members end up receiving about 80 percent of what they paid out-of-pocket back. It’s no walking on hind legs with a hot dog on your nose, but it’s a pretty neat trick nonetheless.
And while Eusoh facilitates the payments, the money comes directly from the contributions of other members paid in addition to the monthly fee. Because those expenses vary from month to month, the amount each member is asked to contribute will also vary. Typically, inclusive of the fee paid to Eusoh, members will pay between $35 and $50 a month total, and the total cost is capped at $65 no matter how many reimbursements are needed. Accordingly, the annual reimbursement maximum one member can receive is $8,500.
This kind of peer-to-peer, community-driven reimbursement structure is what makes Eusoh unique and superior to other pet healthcare providers, but it’s not the only one. Consider that instead of pet insurance plans that get more expensive as pets age, Eusoh’s monthly fees stay the same no matter how old your pet is.
It all adds up to the kind of pet health plan that keeps your pet healthy and you protected from having to choose between your dog or cat’s health and your own financial health.
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