By John McDevitt

by John McDevitt

PHILADELPHIA (CBS) — With the costs of health care for pets at a record high, sometimes a pet owner is faced with no other choice than to put their animal down because of the expense of treatments or surgeries.

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A locally headquartered pet insurance company is launching a new plan on Monday that it hopes will revolutionize the industry.

Chemotherapy, hip replacements, and stem cell treatment, many of the latest medical procedures and treatments for pets can cost hundreds, and even thousands, of dollars.

Chris Ashton is the co-founder of Pet Plan pet insurance, based in Newtown Square. It’s been around for 10 years.

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“Pet parents in America are going to spend about $16 billion on veterinary care, and the thing with pet insurance is you don’t have to worry about whether you can afford treatment, you just have to focus on getting fluffy better and back on his paws,” said Ashton.

Pet plan is offering a new policy: unlimited level of coverage.

There used to be a $10,000-a-year payout limit. You can also choose a deductible.

You’ll be able to get a quick quote at gopetplan.com.

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Policies range from $200 to $2,000 a year.