As health insurance premiums continue to rise, many Washington employers are exploring cost-effective ways to add value for their teams. With the state’s 2026 individual health plan rates projected to spike by over 21%, companies are being forced to reconsider how they structure their total benefits offering.
One solution that’s gaining traction? Pet insurance.
Health Costs Are Up. Budgets Are Tight.
For the past several years, health coverage has grown more expensive for employers across the board. In Washington, the individual market saw back-to-back increases of 8.94% in 2024 and 8.18% in 2023. The newly proposed 2026 hike may foreshadow similar cost escalations in the small and mid-size group market.
As a result, many employers are turning to low-cost ancillary benefits to maintain employee satisfaction without expanding their core medical spend.
The Rise of Pet Insurance
In 2024, the U.S. pet insurance industry reached $4.7 billion in total premiums, up 21.4% year-over-year. More than 6.4 million pets were covered by year-end, up from 5.7 million in 2023.
Key drivers:
- 94 million households now own at least one pet, up 15% in one year
- Younger workers are delaying or forgoing children in favor of pets
- 51% of employees say pet insurance would influence their job decisions
Employers Are Paying Attention
Among companies with 500+ employees, 36% now offer pet insurance, a 22% increase over five years.
And it’s not just availability. More employers are helping with costs. Data from PetPartners is reporting double‑digit growth overall, including a 20 % jump in feline enrollments in 2023.
Why? Offering pet insurance sends a clear message: we care about what matters to you.
What It Covers, What It Costs
Most plans include:
- Accidents and illnesses
- Surgeries and emergency visits
- Prescription medications and diagnostics
- Optional add-ons for wellness and routine care
Typical premiums fall between $130–$700/year, depending on coverage. Plans range from accident-only to full comprehensive with wellness options.
In Washington, pet insurance is regulated under property & casualty lines. Agents must be licensed, and plans must clearly disclose coverage limits and exclusions.
Why Business Health Trust Offers PetPartners
Through Business Health Trust, employers can easily offer pet insurance via PetPartners, a trusted provider with customizable plans and nationwide access.
Benefits of offering PetPartners through BHT:
- Group-rate discounts
- Flexible contribution models (voluntary, partial, or full subsidy)
- Simplified setup and administration
- Optional bundling with other BHT benefits
The PetPartners team handles onboarding, education, and ongoing support so you don’t have to.
Getting Started
- Gauge employee interest
- Choose plan options and funding structure
- Coordinate setup through BHT and PetPartners
- Communicate the new benefit through email, webinars, or intranet
- Track engagement and usage