Emergency Pet Care Costs. Unexpected expenses with pets can be managed through various plans! No one plans to have a medical emergency. But, when our pets are involved in a traumatic event, or are diagnosed with a life-threatening illness, costs can be a big factor in determining the level of care our four-legged friends will get.
Veterinary medical care has grown by leaps and bounds just as human medical care and technology has expanded. With the availability of veterinary specialists, animal emergency centers and high-tech diagnostics, our pets can receive a level of care similar to us. But, this care does come with a price and although veterinary medicine is still considered to be a great value, repair of a fractured leg or lengthy chemotherapy could stress anyone’s wallet.
First created more than 25 years ago, pet insurance has helped many people provide a higher level of care for their pets. According to the pet insurance industry, affordable premiums, along with greater, comprehensive coverage, have allowed many pet owners to keep their best friends alive longer and in better health. Not everyone agrees with that assessment.
Consumer advocacy groups have stated that pet insurance only works in the event of something catastrophic, like traumatic injury. They cite gaps in coverage for hereditary conditions and low repayments as reasons against buying a policy for your pet. Many groups, including Consumer Reports, have said that it would be more beneficial for a consumer to put the premium payments into a standard savings account.
Pet health savings plans are fairly new, but do operate as a proactive method of saving for any potential calamity. The money, state advocates of savings, is there for any use, not just a pet related one. Another payment option that is doing well is the use of extended payment plans, such as Care Credit. Owners can choose a 90 day, 6 month, or 1 year repayment to cover high cost medical procedures.