Nationwide says inflation and pet veterinary care are among the reasons for dropping pet insurance.
Scores of pet owners will have to find new insurance for their furry friends after Nationwide said it will stop offering some policies in certain states.The company revealed Friday it planned to withdraw some of its pet insurance offerings in "some states" in a "difficult" move that would cause 100,000 pets to lose their coverage.
Veterinary services in May were up a staggering 7.6% compared to the same time last year, the latest Consumer Price Index data released by the Bureau of Labor Statistics showed. From the prior month, they increased 0.3%."Like for other health care sectors, the cost of delivering veterinary medical services continues to rise," Dr. Rena Carlson, president of the American Veterinary Medical Association, said in a statement to FOX Business.
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