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NBC News
09-07-2025
- Business
- NBC News
That's a lot of scratch: More pet owners spring for insurance as vet costs climb
Wilson was always 'an expensive cat,' Jenn Thoman said. 'He was just one big pre-existing condition.' Thoman, of the Philadelphia area, wound up going into debt for Wilson. Two of his health scares over the last few years left Thoman with around $14,000 in vet bills, which she paid with $3,500 from her savings and the rest with a pet wellness credit card. She still has $8,000 to pay off. She has since purchased pet insurance for Archie, the rescue dog she adopted in 2023, determined to avoid a repeat of her financial gauntlet with Wilson. 'I don't want to have to worry about it, and the insurance really makes it so that I don't,' Thoman said. Most pet owners don't insure their animals. Of the nearly 90 million dogs and almost 74 million cats in the United States, both species' insured rates remain in the single digits, the North American Pet Health Insurance Association (NAPHIA) estimates. But the market is expanding rapidly, with consumer spending on the policies having grown by at least 20% each year since 2020 to hit more than $4.7 billion last year, according to the trade group. The growth of pet insurance coincides with a steep run-up in the costs of pet services — from grooming and kenneling to veterinary visits — relative to goods like food, leashes and toys. Prices for the latter are up 22% since 2019, while the former have surged 42%, Bank of America Institute researchers noted in May. The inflation gap points to lopsided demand as pet owners prioritize their animals' health, said Taylor Bowley, a Bank of America Institute economist. 'Maybe you're not going to that premium, upper-line specialty pet store, and while you're at the grocery store, you're picking up a more 'value' brand,' she said. Vet visits, on the other hand, feel like more of a necessity for many consumers, who simply pay whatever they're billed. While vet costs are rising, the pace of price hikes for other types of pet services is hotter, leading Bowley and her colleagues to speculate that pet insurance is helping keep vet prices in check. Yet policyholders regularly run up against the limits of their coverage. As with many human health insurance plans, pet policies typically cover accidents and illness. But in a crucial difference, most pet plans don't cover pre-existing conditions, well visits or dental care. That has kept many pet owners on the sidelines. There's no shortage of online debate over the relative worth of pet insurance, with consumers routinely trading notes on Reddit and elsewhere about rising premium costs, unexpected cancellations and other common shortcomings. Thoman said she's happy with Archie's policy from Trupanion, which charges her about $50 in monthly premiums. She hasn't bought insurance for her 14-year-old cat, Swayze, however, since his existing medical conditions wouldn't be covered. For Dallas-area dog owner Jeanine Galusha, pet insurance offers peace of mind when her three Belgian Malinois compete in dog sports, which can be 'pretty hard on their joints.' 'I know that if something goes sideways, if we tear an ACL or something happens, they can get fixed up and we can see specialists,' she said. Laura Bainbridge, senior vice president of corporate communications at Trupanion, said the industry has taken off since the pandemic, when pet adoptions surged. As homebound consumers spent more time with their animals, many began to 'view their pets as part of their family,' she said. 'They want to be able to take care of them as they would any family member, and so they're willing to spend to ensure that their pet has a high access to care.' Pet insurance costs have increased, with popular 'accident and illness' coverage premiums averaging about $62 per month for dogs (up 27% from 2019 to 2024) and $32 monthly for cats (up 10%), according to NAPHIA. But since 2019, premiums have risen more slowly than prices in the broader pet services sector, the Bank of America analysts found. Indeed, industry experts continue to anticipate more pet owners will decide the policies are worth springing for in the years ahead. 'I don't expect plateauing,' said Yael Cohen, general manager of pet insurance at the insurance firm Lemonade. 'You'll see more customers, and you'll see more competitors, and you'll see established competitors gaining more market share.' General insurance companies like Liberty Mutual, which began offering pet insurance in 2017, and Lemonade, which launched its pet insurance in 2020, have entered the sector, battling for market share with boutique, pet-focused firms like Healthy Paws and Trupanion, now America's largest pet insurer. The rising demand has also drawn private equity firms to invest in pet insurance carriers. The conglomerate JAB Holding Co., for one, owns more than 20 pet insurance providers, including Pets Best, Spot and Pumpkin. (A spokesperson for JAB didn't respond to a request for comment.) There's a risk that 'excessive market power' among a few pet insurance operators could limit options and raise prices for consumers, said Matt MacLachlan, a veterinary economist at Cornell University. But private equity's presence in the sector can also increase efficiency, benefiting policyholders, he said. Whatever their downsides, many policies can help pet owners 'disconnect their decision-making from the financial considerations' of expensive vet care, MacLachlan said. As with other forms of coverage, he said, 'you don't want to be in a situation where you really need that insurance and don't have it.'
Los Angeles Times
14-06-2025
- Climate
- Los Angeles Times
The National Weather Service issues Alaska's first-ever heat advisory
ANCHORAGE — For the first time ever, parts of Alaska will be under a heat advisory — but you can put an asterisk at the end of that term. It's not the first instance of unusually high temperatures in what many consider the nation's coldest state, but the National Weather Service only recently allowed for heat advisories to be issued there. Information on similarly warm weather conditions previously came in the form of 'special weather statements.' Using the heat advisory label could help people better understand the weather's severity and potential danger, something a nondescript 'special weather statement' didn't convey. The first advisory is for Sunday in Fairbanks, where temperatures are expected to top 85 degrees. Fairbanks has been warmer in the past, but this is unusual for June, officials said. Here's what to know about Alaska's inaugural heat advisory: The National Weather Service's switch from special weather statements to advisories was meant to change how the public views the information. 'This is an important statement, and the public needs to know that there will be increasing temperatures, and they could be dangerous because Alaska is not used to high temperatures like these,' said Alekya Srinivasan, a Fairbanks-based meteorologist. 'We want to make sure that we have the correct wording and the correct communication when we're telling people that it will be really hot this weekend,' she said. The change doesn't reflect unprecedented temperatures, with Fairbanks having reached 90 degrees twice in 2024, Srinivasan said. It's purely an administrative change by the weather service. 'It's not that the heat in the interior that prompted Fairbanks to issue this is record heat or anything like that. It's just now there's a product to issue,' said Rich Thoman, a climate specialist at the Alaska Center for Climate Assessment and Policy. Thoman also clarified that the term swap doesn't have anything to do with climate change. 'I think some of it is related to the recognition that hot weather does have an impact on Alaska, and in the interior especially,' Thoman said. While the temperatures in the forecast wouldn't be considered extreme in other U.S. states, Thoman noted that most Alaska buildings don't have air conditioning. 'And just the opposite, most buildings in Alaska are designed to retain heat for most of the year,' he said. People can open their windows to allow cooler air in during early morning hours — if wildfires aren't burning in the blaze-prone state. But if it's smoky and the windows have to remain shut, buildings can heat up very rapidly. 'Last year was the third year in a row in Fairbanks with more than a hundred hours of visibility-reducing smoke, the first time we've ever had three consecutive years over a hundred hours,' he said. There have only been two summers in Fairbanks in the 21st century with no hours of smoke that reduced visibility, a situation he said that was commonplace from the 1950s to the 1970s. The Juneau and Fairbanks weather service offices have been allowed to issue heat advisories beginning this summer, but not the office in the state's largest city of Anchorage — at least not yet. And, regardless, temperatures in the area haven't reached the threshold this year at which a heat advisory would be issued. Brian Brettschneider, a climate scientist with the weather service, said by email that the Anchorage office is working on a plan to issue such advisories in the future. Thiessen writes for the Associated Press.
New York Post
14-06-2025
- Climate
- New York Post
National Weather Service issues Alaska's first ever heat advisory
For the first time ever, parts of Alaska will be under a heat advisory — but you can put an asterisk at the end of that term. It's not the first instance of unusually high temperatures in what many consider the nation's coldest state, but the National Weather Service only recently allowed for heat advisories to be issued there. Information on similarly warm weather conditions previously came in the form of 'special weather statements.' Using the heat advisory label could help people better understand the weather's severity and potential danger, something a nondescript 'special weather statement' didn't convey. 4 The National Weather Service recently allowed for heat advisories to be issued in Alaska, rather than the previous form of 'special weather statements.' AP 4 People sunbathe at Goose Lake in Anchorage, Alaska in 2013. AP The first advisory is for Sunday in Fairbanks, where temperatures are expected to top 85 degrees Fahrenheit (29 degrees Celsius). Fairbanks has has been warmer in the past, but this is unusual for June, officials said. Here's what to know about Alaska's inaugural heat advisory: Why it's the first The National Weather Service's switch from special weather statements to advisories was meant to change how the public views the information. 'This is an important statement, and the public needs to know that there will be increasing temperatures, and they could be dangerous because Alaska is not used to high temperatures like these,' said Alekya Srinivasan, a Fairbanks-based meteorologist. 'We want to make sure that we have the correct wording and the correct communication when we're telling people that it will be really hot this weekend,' she said. 4 'The public needs to know that there will be increasing temperatures, and they could be dangerous because Alaska is not used to high temperatures like these,' Alekya Srinivasan, a Fairbanks-based meteorologist, said. Cavan Images – Not unprecedented and not climate change The change doesn't reflect unprecedented temperatures, with Fairbanks having reached 90 degrees twice in 2024, Srinivasan said. It's purely an administrative change by the weather service. 'It's not that the heat in the interior that prompted Fairbanks to issue this is record heat or anything like that. It's just now there's a product to issue,' said Rich Thoman, a climate specialist at the Alaska Center for Climate Assessment and Policy. Thoman also clarified that the term swap doesn't have anything to do with climate change. 'I think some of it is related to the recognition that hot weather does have an impact on Alaska, and in the interior especially,' Thoman said. Little air conditioning While the temperatures in the forecast wouldn't be considered extreme in other U.S. states, Thoman noted that most Alaska buildings don't have air conditioning. 'And just the opposite, most buildings in Alaska are designed to retain heat for most of the year,' he said. 4 According to Rich Thoman, a climate specialist at the Alaska Center for Climate Assessment and Policy, most Alaska buildings don't have air conditioning, impacting how people will handle the weather. AP People can open their windows to allow cooler air in during early morning hours — if wildfires aren't burning in blaze-prone state. But if it's smoky and the windows have to remain shut, buildings can heat up very rapidly. 'Last year was the third year in a row in Fairbanks with more than a hundred hours of visibility-reducing smoke, the first time we've ever had three consecutive years over a hundred hours,' he said. There's only been two summers in Fairbanks in the 21st century with no hours of smoke that reduced visibility, a situation he said was commonplace from the 1950s to the 1970s. What about Anchorage? The Juneau and Fairbanks weather service offices have been allowed to issue heat advisories beginning this summer, but not the office in the state's largest city of Anchorage — at least not yet. And, regardless, temperatures in the area haven't reached the threshold this year at which a heat advisory would be issued. Brian Brettschneider, a climate scientist with the weather service, said by email that the Anchorage office is working on a plan to issue such advisories in the future.
14-06-2025
- Climate
National Weather Service issues Alaska's first-ever heat advisory
ANCHORAGE, Alaska -- For the first time ever, parts of Alaska will be under a heat advisory — but you can put an asterisk at the end of that term. It's not the first instance of unusually high temperatures in what many consider the nation's coldest state, but the National Weather Service only recently allowed for heat advisories to be issued there. Information on similarly warm weather conditions previously came in the form of 'special weather statements." Using the heat advisory label could help people better understand the weather's severity and potential danger, something a nondescript 'special weather statement' didn't convey. The first advisory is for Sunday in Fairbanks, where temperatures are expected to top 85 degrees Fahrenheit (29 degrees Celsius). Fairbanks has has been warmer in the past, but this is unusual for June, officials said. Here's what to know about Alaska's inaugural heat advisory: The National Weather Service's switch from special weather statements to advisories was meant to change how the public views the information. 'This is an important statement, and the public needs to know that there will be increasing temperatures, and they could be dangerous because Alaska is not used to high temperatures like these,' said Alekya Srinivasan, a Fairbanks-based meteorologist. 'We want to make sure that we have the correct wording and the correct communication when we're telling people that it will be really hot this weekend,' she said. The change doesn't reflect unprecedented temperatures, with Fairbanks having reached 90 degrees twice in 2024, Srinivasan said. It's purely an administrative change by the weather service. 'It's not that the heat in the interior that prompted Fairbanks to issue this is record heat or anything like that. It's just now there's a product to issue,' said Rich Thoman, a climate specialist at the Alaska Center for Climate Assessment and Policy. Thoman also clarified that the term swap doesn't have anything to do with climate change. 'I think some of it is related to the recognition that hot weather does have an impact on Alaska, and in the interior especially," Thoman said. While the temperatures in the forecast wouldn't be considered extreme in other U.S. states, Thoman noted that most Alaska buildings don't have air conditioning. 'And just the opposite, most buildings in Alaska are designed to retain heat for most of the year," he said. People can open their windows to allow cooler air in during early morning hours — if wildfires aren't burning in blaze-prone state. But if it's smoky and the windows have to remain shut, buildings can heat up very rapidly. 'Last year was the third year in a row in Fairbanks with more than a hundred hours of visibility-reducing smoke, the first time we've ever had three consecutive years over a hundred hours,' he said. There's only been two summers in Fairbanks in the 21st century with no hours of smoke that reduced visibility, a situation he said was commonplace from the 1950s to the 1970s. The Juneau and Fairbanks weather service offices have been allowed to issue heat advisories beginning this summer, but not the office in the state's largest city of Anchorage — at least not yet. And, regardless, temperatures in the area haven't reached the threshold this year at which a heat advisory would be issued. Brian Brettschneider, a climate scientist with the weather service, said by email that the Anchorage office is working on a plan to issue such advisories in the future.
Yahoo
14-06-2025
- Climate
- Yahoo
The National Weather Service issues Alaska's first ever heat advisory
ANCHORAGE, Alaska (AP) — For the first time ever, parts of Alaska will be under a heat advisory — but you can put an asterisk at the end of that term. It's not the first instance of unusually high temperatures in what many consider the nation's coldest state, but the National Weather Service only recently allowed for heat advisories to be issued there. Information on similarly warm weather conditions previously came in the form of 'special weather statements." Using the heat advisory label could help people better understand the weather's severity and potential danger, something a nondescript 'special weather statement' didn't convey. The first advisory is for Sunday in Fairbanks, where temperatures are expected to top 85 degrees Fahrenheit (29 degrees Celsius). Fairbanks has has been warmer in the past, but this is unusual for June, officials said. Here's what to know about Alaska's inaugural heat advisory: Why it's the first The National Weather Service's switch from special weather statements to advisories was meant to change how the public views the information. 'This is an important statement, and the public needs to know that there will be increasing temperatures, and they could be dangerous because Alaska is not used to high temperatures like these,' said Alekya Srinivasan, a Fairbanks-based meteorologist. 'We want to make sure that we have the correct wording and the correct communication when we're telling people that it will be really hot this weekend,' she said. Not unprecedented and not climate change The change doesn't reflect unprecedented temperatures, with Fairbanks having reached 90 degrees twice in 2024, Srinivasan said. It's purely an administrative change by the weather service. 'It's not that the heat in the interior that prompted Fairbanks to issue this is record heat or anything like that. It's just now there's a product to issue,' said Rich Thoman, a climate specialist at the Alaska Center for Climate Assessment and Policy. Thoman also clarified that the term swap doesn't have anything to do with climate change. 'I think some of it is related to the recognition that hot weather does have an impact on Alaska, and in the interior especially," Thoman said. Little air conditioning While the temperatures in the forecast wouldn't be considered extreme in other U.S. states, Thoman noted that most Alaska buildings don't have air conditioning. 'And just the opposite, most buildings in Alaska are designed to retain heat for most of the year," he said. People can open their windows to allow cooler air in during early morning hours — if wildfires aren't burning in blaze-prone state. But if it's smoky and the windows have to remain shut, buildings can heat up very rapidly. 'Last year was the third year in a row in Fairbanks with more than a hundred hours of visibility-reducing smoke, the first time we've ever had three consecutive years over a hundred hours,' he said. There's only been two summers in Fairbanks in the 21st century with no hours of smoke that reduced visibility, a situation he said was commonplace from the 1950s to the 1970s. What about Anchorage? The Juneau and Fairbanks weather service offices have been allowed to issue heat advisories beginning this summer, but not the office in the state's largest city of Anchorage — at least not yet. And, regardless, temperatures in the area haven't reached the threshold this year at which a heat advisory would be issued. Brian Brettschneider, a climate scientist with the weather service, said by email that the Anchorage office is working on a plan to issue such advisories in the future.
