[UCRDBR] Nationwide Pet Insurance – Upcoming Design and Pricing Changes

[Departmental Benefits Representatives]

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September 8, 2021
To:
Department Benefits Representatives (DBRs)

From:
HR Benefits Office

Re:
Nationwide Pet Insurance – Upcoming Design and Pricing Changes

Nationwide recently announced they will be implementing plan design and pricing changes to their Pet Insurance Program in the coming weeks. Currently, Nationwide’s Pet Insurance Plan offers a choice of three levels of reimbursement for pet-related medical expenses (injury and illness): 50%, 70% and 90%. Additionally, they offer a wellness buy-up feature that can be purchased to supplement medical coverage.

Due to increases in veterinary costs and reduced participation in their high-end coverage offerings, Nationwide will be implementing the following changes:

Plan Design Changes
Beginning October 1, 2021 coverage options available for new enrollments will change as follows:

        ·         Elimination of the 90% reimbursement level.

o   Closed to new enrollments.

o   50% and 70% reimbursement levels will continue to be available.

        ·         Elimination of the wellness buy-up feature.

o   Closed to new enrollments.

These plan design changes do not apply to current participants in the 90% reimbursement level and/or the wellness buy-up feature. Those enrolled in these options on September 30, 2021 will be considered legacy members and their coverage will continue uninterrupted.

Pricing Increases in California
An increase of 9.4% (average amount is $4.70 per month) will be implemented as follows:

        ·         New enrollments: effective September 23, 2021; the pricing increase applies to all new enrollments in the Plan.

        ·         Current participants: costs for participants who enrolled prior to September 23, 2021 will remain unchanged through November 30,2021.

o   Beginning on December 1, 2021, premiums will increase effective on the policy holder’s annual renewal date (the month and day on which they enrolled in their current coverage), and Nationwide will notify them in writing 60 days in advance.

In addition to these changes, Nationwide is seeking approval from the California Department of Insurance (CA DOI) to include age and breed of pets as factors in determining future premium rates. If approved, pricing for the Plan will change from discounted group rates to discounted individual rates, and costs will be lower for younger pets and those from traditionally healthy breeds, and higher for older pets and those from breeds with known risk for hereditary and congenital conditions. UCOP is monitoring this situation closely and will provide advance notice of changes should the CA DOI approve Nationwide’s request.

Contacts
To enroll for pet insurance online logon to Nationwide at https://www.petinsurance.com/uc/. For questions, please contact Nationwide at (877) 738-7874.

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