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Pet Health Care: Keep Puppy Healthy While Keeping Costs Down! Provided by the Financial Planning Association  |
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 Americans spend a staggering $40 billion a year on their pets, a large portion of which is spent on veterinary visits and expenses. As research in human health care advances so are there advances in animal health care, which means treatments for animals which may have never been considered just a few years ago, now are helping our pets to live longer and healthier. With that in mind, is it time to consider pet health insurance? Is it really worth the money?
The average pet health insurance can run about $500.00 a year for a good policy that includes coverage for cancer. That figure can make it tempting because it’s not unusual for a pet’s cancer treatment to exceed $3,000.00 a year. Then there are regular visits to the vet for check ups and vaccinations which can cost around $100.00 a visit.
But ultimately, is pet insurance a good idea?
If you are worried that you don’t have the cash to cover a pet that has suffered a major injury or illness ten you should consider it. But if that is the case, you probably should look at getting insurance that just covers major illnesses and accidents only.
You would still have to pay for checkups and routine care but you would be covered in the event something unforeseen takes place.
You may also want to consider creating a pet emergency fund with annual deposits of around $500.00 a year. By the time your pet is 10 you will have a sizeable cushion of cash to use should you need it.
Also think about:
Asking your veterinarian if he or she negotiates payment plans and what interest costs might be;
Contact your local shelter to see if there are subsidized veterinary clinics in your community;
If you have a specific breed in mind, contact the national club for that breed and see if they might have knowledge of specific health conditions faced by that breed as well as a veterinary assistance fund;
Ask your vet to submit an assistance request to the American Animal Hospital Association’s AAHA Helping Pets Fund (www.aahanet.org).
The best thing any pet owner can do is to keep up on regular vet visits and vaccinations. Catching problems early make them easier to treat and less expensive to pay for.
Information for this article provided by the Financial Planning Association (FPA).
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