OnePack Plan is now giving Canadians access to an innovative pet insurance solution designed to be offered as an employee benefit. This addresses a significant gap in workplace offerings — while 58% of Canadian households own pets, only 2% of employers currently provide pet insurance coverage.
The OnePack Plan program allows companies to integrate payroll-deductible pet insurance into existing benefits packages, which will offer them financial protection against veterinary expenses that average $1,000 per incident. The service is available nationwide in both English and French. It features flat group rates, optional wellness coverage, and eventual inclusion of pre-existing conditions after one year of continuous coverage.
The program's flexibility is particularly valuable given that 42% of Canadian pet owners report making financial sacrifices for pet care, while 40% have missed work due to pet health concerns.
Image Credit: OnePack Plan
Why This Trend Is Growing
- Pet Insurance as A Standard Employee Benefit
- The growing inclusion of pet insurance in employee benefits signifies a shift towards more comprehensive and personalized workplace packages.
- Payroll-integrated Insurance Solutions
- Offering payroll-deductible pet insurance presents a seamless integration model that could extend to other types of employee insurance benefits.
- Expansion of Wellness and Pre-existing Coverage
- The addition of optional wellness coverage and eventual inclusion of pre-existing conditions in pet insurance is setting a precedent for other insurance sectors to provide more inclusive policies.
Industries Being Reshaped
- Employee Benefits Management
- As companies explore innovative benefits like pet insurance, the employee benefits management industry is expanding its scope to attract and retain talent.
- Pet Insurance Industry
- The pet insurance industry is experiencing disruption as traditional models adapt to integrate with employee benefit systems and address underinsured pet populations.
- Human Resources Technology
- HR technology platforms can capitalize on integrating diverse insurance options like pet coverage into their systems, enhancing employee satisfaction and experience.
