Reducing Pet Costs: Medical Expenses
While pet food is the most often recurring cost associated with pets, pet medical care may well be the most expensive. When me and my partner rescued Francie from the rooftop, we immediately took her to the vet to make sure she was healthy. Although we got a 10% discount for taking in a rescue, that initial visit cost a whopping $80. Since, Francie’s been spayed, ($200) the kittens had their shots ($80 each for five of them), and a sick kitten was nursed back to health with the help of the vet ($80).
All in all, it’s been an expensive winter. Obviously, it is not typical to incur all of these costs in such a short period of time, but the average yearly medical cost for pets is still upwards of $300. Here’s a breakdown of different options for making sure your pet still gets the care it needs despite high costs and difficult financial times. After all, we don’t want to be these people. (Don’t click on that link if stories about abandoned animals upsets you, I was really saddened)
1. Pet Insurance
Gaining in popularity in the past five years, insurance for pets is very similar to our medical insurance. You find a provider (there aren’t many, but here’s a great starting list), pay a premium that depends on your pet’s age, health, etc, and have all expenses covered after your set deductable amount. However, like our medical insurance, there are many serious procedures or treatments that are only partially covered and there is difficulty in getting a pet with a serious pre-existing condition covered. Additionally, if you have a breed with a known predisposition to a certain disease, e.g. hip dysplasia in German Shepherds, you may not be covered for the condition. Despite all this, there is a good chance that getting pet insurance can save you upwards of $1000 over the lifetime of your pet.
2. Pet Wellness Plan
It walks like a duck and talks like a duck, but is it a duck? That’s the question with pet wellness plans. If your pet only has routine expenses, a wellness plan can function exactly like pet insurance; you pay a monthly fee and certain treatments are covered, often at lower fees. However, a wellness plan is unlike an insurance plan in one very traumatic way- if your pet needs emergency care and dies, you may still be stuck with the fess. Unlike insurance, you are still liable for any fees, because a wellness plan actually works like an auto maintenance program. If you sign the contract for a year, you have to pay for a year. This usually works best for preventative care and pets without a history of chronic illness. Vets usually offer wellness plans, but make sure to read all contracts carefully.
3. Discount programs
If you are wary of insurance or wellness programs, there is yet another option: discount programs. For one annual payment, you receive pre-set discounts on veterinary services. The discounts range from 20-35% and cover almost any treatment your pet may have. The catch is that you have to see a participating veterinarian, which may not include many of our independently owned veterinarians. Pet Assure is the largest of this programs, but a quick internet search yields many more.
4. Pet Emergency Fund or Credit Card
If you’re not planning on any of the above options, you should at least plan on being able to provide some financial coverage for emergency pet expenses. One of my friends recently found out her cat needs a $600 blood test right out of the blue. When life hands you a financial lemon like this, make sure you have a plan of attack. Hopefully, you have an emergency fund you can dip into, or barring that, you have a credit card that can be used for pet expenses. The last thing you want is your furry (or reptilian) friend suffering unduly because of a lack of financial planning.
5. Vet emergency fund or payment plan
In the case you are really in a financial pickle (and with the high costs of vet services these days, it’s not unlikely), veterinary offices often have emergency funds for clients who are unable to pay their pet’s expenses. Don’t count on this money, because it is doled out on the basis of various factors that you don’t have any control over, but certainly ask about it if you find yourself unable to pay. Similarly, many vets will accept your payment in the form of a payment plan, allowing you to pay what you are able over a given time period until the service is paid in full. You may have to pay additional interest to offset the time it took for you to pay in full.
6. Non-Profit Funds
Another solution if you’re in a pickle is funds from various non-profit agencies. Depending on where you live, the pet you have, and your affiliations, you may be eligible to apply for emergency funding from a non-profit group. This process takes time, so is probably best coupled with being able to pay your vet up front with a credit card, but can help fund costly emergency expenses. A partial list of these non-profits can be found here.
7. Preventative Care
This is probably glaringly obvious, but still worth repeating. My mom is always bugging me about getting my teeth cleaned every six months, so that I can avoid the dental problems she has had as a result of poor hygiene. Despite that, I don’t think I’ve been to the dentist in at least a year (don’t tell!). As much as we *know* that preventative care will lead to a happier, healthier and cheaper pet, we need to force ourselves to remember to schedule that yearly appointment. Go and do it now. I’ll wait.
The next six months of my pet expenses will hopefully be a lot less than my first six months. However, my kitten needs to get neutered, and there probably needs to be some teeth cleaning too. How do you cope with unforeseen pet medical expenses? Does anyone have an insurance provider they love? Have you found another way to cut costs on pet medical expenses?
Finding a reputable vet is awesome. I really lucked out when we adopted our cats – the woman who helped me adopt them was on the CASPCA board, and recommended a vet who’s also on that board. He’s cautious with the $$ tests, costs less than many vets in the area and is just awesome all around. (I just saw all his 5 star recommendations on yahoo when I was looking up their phone # at work.) I think it’s worth asking around, comparing prices and (most importantly), interviewing vets to see what their stance on certain regular costs will be. If they advocate a more aggressive vaccine regime than you’re comfortable with and push that as well as other pricey optios, then they may not be the best fit.
Lastly, ask your vet if it’s worth paying some extra for food that’s a bit more than the basics – a lot of cat foods have lots of starch as a filler, which can exacerbate some medical issues. Some cats don’t need it, but sometimes it helps others (and it’s cheaper than medication!)
I adore my cats. I take care of them with great love and affection and will continue to until the time comes to mercifully end their existance on this plane, if needed. And that includes getting them to the vet, as much as they hate every second of being torn out of their comfy, cozy house.
But (you knew there had to be one)…the vaccines I get my cats are the single most expensive part of their care. I’ve been reading quite a bit about overvaccination, which shows that most house cats after the first few years of life, really only need to keep their rabies (and any other state-mandated) shots current. They develop an immunity that protects them for years.
It should be noted that if you let your cats outside, this doesn’t apply since they’ll be in contact with other animals. But on average, outdoor cats don’t live as long as a house cat either, so the total cost probably comes out to be about equal. (Not trying to be cruel; just realistic.)
So, do some reading on overvaccination and consider reducing the number of vaccines your pets get. That will save some money and not harm them.
I found that my first year of cat ownership was expensive. Neutering, the little plastic claw covers, shots, shots and more shots … nail trims, et al.
Now that he’s a big boy, he’s gotten much cheaper. he gets 1 shot a year, he takes his bug pills so he doesn’t get fleas, ticks, etc., and he eats his food like a happy boy.
For those of you who get a puppy/kitten under a year old, may want to add Trupanion to the list of pet insurers found in the link above under “pet insurance”. Very simple plan that was the most comprehensive based upon my web research. We enrolled our pup that we got from the local shelter.
Andrea: I like the idea of building up the pet emergency fund in lieu of paying out for insurance year after year… the equivalent of self-insuring. Great list of ideas. Thanks for taking the time to put this together.
I would only add; make sure you’re an active consumer of your pet’s healthcare. Nothing against vets, but make sure they understand your concerns about your pet and your approach to quality of life. I always ask my vet to explain a course of treatment, what the possible outcomes are, what the tests will show or not show…again, make sure you agree with their approach…and remember, it’s not just a financial issue for you…it’s also a quality of life issue for your pet, particularly as you begin to treat a geriatric pet…when costs skyrocket…and quality of life can plummet.
Pet insurance covers so little of the vet bills an animal is likely to run up over the course if its lifetime, you’re probably better off to put the amount of the premiums into an emergency fund. Actually, if you can afford $100 a month, that’s $1,200 a year. In the first three to five years of the pet’s life, your only costs (after spaying) are likely to be vaccinations and licensing, which you can afford to pay out of cash flow. So by the time the critter is likely start costing you money, you’ll have $3,600 to $6,000 set aside. And counting.
My German shepherd, which has every chronic ailment known to German shepherdom, has never cost more than about $430 in single hit.
She’s never needed surgery, and I don’t believe in spending huge amounts of money on pets, so if a vet suggested surgery for something the dog was unlikely to get over (such as cancer), I probably wouldn’t do it. But supposing I did…the dog is 12 years old: 12 x $1200 – $430 = $13,970. That oughta cover it.
alice: the idea that food is part of a preventative care routine is so interesting; i think we all think that feeding better food to our pets is a good, but this really drives home why.
lisa: good to know! my cats are indoor cats as well, so i’ll make sure i read up on this for my next vet visit.
chris: yes, i am counting on the costs decreasing over time. and i’m learning how to trim their nails myself too!
carpe diem: thanks for sharing; i’m sure other readers will find this really helpful.
nina: thanks for having me!
mark: those are good things to things about. i hate the idea that my cats are going to get older, but i’m glad to have that info. when it does happen.
funny about money: great analysis! self-insurance may be a great option for many pet owners.
Pets can be expensive. I did an analysis recently and found that our two Great Danes have cost us over $30,000 in the last 8 years.
If you are paying $80 for shots, $200 for neutering/spaying, and the like, you are paying WAY WAY too much. Our vet charges $60 for neuter/spay $18 for office visits, and the last time we got shots it was $7 each. AND she is an awesome vet who takes very good care of our kitties.