- Synchrony and Figo Pet Insurance introduced a reimbursement option that credits approved claims directly to a pet owner’s CareCredit account.
- The program allows pet owners to pay veterinary bills with CareCredit and receive eligible reimbursements automatically once claims are approved.
- CareCredit is accepted at roughly 85% of veterinary practices in the United States and more than 27,000 clinics overall.
- The integration expands Synchrony’s pet insurance reimbursement network, which already includes Pets Best and Pumpkin.
- More than 1.2 million insured policyholders now have access to the CareCredit claims reimbursement technology.
- The companies say the system aims to reduce payment friction and help pet owners manage veterinary costs more easily.
Synchrony and Figo Pet Insurance announced a partnership designed to simplify how pet owners manage veterinary care payments and insurance reimbursements.
The collaboration allows approved Figo pet insurance claims to be reimbursed directly as a credit to a customer’s CareCredit health and wellness credit card account after veterinary services are paid for using the card.
Expanding reimbursement options for veterinary care
The companies say the integration is intended to address a common challenge for pet owners: paying for veterinary services upfront and then waiting for insurance reimbursement.
Under the program, pet owners who hold both a Figo insurance policy and a CareCredit credit card can pay veterinary expenses using CareCredit at practices within the network. When filing an accident or illness claim through Figo, policyholders can choose to have the approved reimbursement applied directly to their CareCredit account.
Once the claim is processed and approved, the reimbursement amount is automatically credited toward the customer’s card balance.
How the system works
The reimbursement process follows a four-step workflow:
1. The pet receives treatment at a veterinary clinic that accepts CareCredit.
2. The pet owner pays the bill using their CareCredit card.
3. The owner submits an eligible claim to Figo and selects CareCredit as the reimbursement method.
4. Once the claim is approved, the reimbursement is automatically credited to the CareCredit account.
The companies say the process does not require veterinary clinics to change their billing procedures.
Expanding a broader financing ecosystem
The partnership builds on Synchrony’s effort to expand the CareCredit health and wellness financing ecosystem for veterinary care.
CareCredit has provided financing options for veterinary services for nearly 40 years and is currently accepted at more than 27,000 veterinary practices and all public veterinary university hospitals in the United States. The card can be used for services ranging from routine checkups to emergency procedures, as well as grooming and boarding.
Figo becomes the latest pet insurance provider integrated with the reimbursement platform, joining existing partnerships with Pets Best and Pumpkin.
Company background
Synchrony is a consumer financing company that provides credit and banking products used across multiple retail and healthcare sectors.
Figo Pet Insurance offers accident and illness insurance coverage designed for companion animals and focuses on simplifying claims and policy management for pet owners.
Information sourced from the company’s press release.
