Pet care costs are going up , and there seems no end to the increases. The average U.S. household spent $655 on routine doctor and surgical visits for dogs last year, up 47 percent from a decade ago, according to the American Pet Products Association. Expenditures for cats jumped 73 percent in the same time frame, putting the rate of increase nearly on pace with that of health-care costs for humans.
The rise has sent pet owners clamoring to lower-cost clinics to treat their pets, updating up their pet insurance policies and turning to discount retailers, like 1-800-PET-MEDS, which typically sells medicine at below most pharmacies’ pricetags.
Some veterinarians have been willing to work with pet owners by setting up payment plans to cover costs for some surgeries and emergency visits over a longer perio
Doctors and other experts say while owners are shelling out more cash to treat their dogs, cats and other pets, they’re also getting their money’s worth. Medicine and treatment techniques have vastly improved in the past decade. And that means more costs to customers.
The American Veterinary Medical Association estimates 72 million dogs and nearly 82 million cats were kept as pets in the United States in 2007. That same year, there were about 850,000 active pet insurance policies, according to the National Commission on Veterinary Economic Issues.
Monthly premiums for pet insurance can run from $11 to $50, adding up to roughly from $2,000 to $6,000 or more over a pet’s lifetime. And some medical procedures for pets can cost anywhere from $500 to $2,500, depending on the severity of the case.
While some experts argue the pros and cons of pet insurance — the premiums generally are cheaper than most other insurance, but the deductibles seldom, if ever, cover costs of more serious ailments or injuries — having it makes sense in an emergency, she says.
In many cases, pets can safely use insurance-covered medicine that is prescribed to humans, even generics
Eight in 10 pet owners took their animal companion to a veterinarian in the past 12 months. And cost was an obstacle for a third of those who did not visit the vet.
The bulk of pet owners faced costs below the average. Sixty percent of those who did take a pet to the vet spent $300 or less on their animal’s care, the average expenditure was boosted higher by the one in eight (13 percent) who spent $1,000 or more.
About one in six pet owners say their pet faced a serious illness during the year, and those pet owners spent an average of $1,092 on vet care. One percent say they took their pets to the vet and spent no money.
According to the poll, most pet owners have faith in the treatment vets recommend. Overall, 52 percent say vets do not often recommend excessive treatment, 26 percent say that happens moderately often, 17 percent extremely or very often.
Among those who did not take their pets to the vet last year, 52 percent say they only take their pets to the vet “when they’re really sick.”