Need emergency pet care? Here’s how you can pay for it Pets

In addition to being a “serious mess” at the vet, Bartles received a vet bill of more than $5,000. “I had no savings or cash to pay,” she says.

According to the American Pet Products Association, Americans will spend nearly $36 billion at veterinary clinics in 2022 on veterinary care, surgery, drugs and other products. The EPA expects that number to increase by $1 billion by 2023.

How do pet owners pay for emergency pet care? Here are options and tips to prepare for when Fido or Fluffy falls down and needs urgent help.

Savings is one of the best ways to pay for emergency veterinary care, says John Boyd, a certified financial planner and founder of MDRN Wealth in Scottsdale, Arizona. It is suggested to have customers Emergency fund It generally includes three to six months of living expenses and money for pet care.

The type of pet can affect how much to keep. “If you’re like me and have a Great Dane and are prone to a stomach bug that can cost up to $2,000, it comes into the equation when it comes to how much you have to save,” Boyd says.

Many veterinarians and pet clinics offer financing plans, usually through a third party in partnership with the veterinarian. Some plans offer 0% interest financing and a quick approval process. Read the fine print to check the interest rate on the plan, and note that approval will require a strong credit check, which can drop your score a few points.

CareCredit It’s a financing option that covers health care costs for your family, including pets. You can apply online, and CareCredit typically offers 0% interest for six, 12, 18 or 24 months on $200 or more. However, if you do not pay the full amount at the end of the promotional period, you will be charged interest again from your first payment date.

Bartels used an existing CareCredit credit card to pay the veterinary bills for Buddha Surgery. Because the account was already open, Bartles was out of the original 0% interest period. She found out that she was paying interest on the pet bill she placed on CareCredit.

Buddha, a 13-year-old Boston terrier, is waiting at the vet’s office. (Photo courtesy of Mallory Bartles)

If you have good credit, a credit card can be a convenient way to pay for emergency veterinary care. However, credit card rates can be high, so it’s important to pay off any accrued balances as soon as possible to avoid high interest charges.

To save on interest, Bartles transferred her CareCredit balance to a credit card at 0% APR for 12 months. She paid an account transfer fee that was offset by savings in interest. She had to add the monthly payment to her family budget, but the debit card gave the Bartels some breathing room to pay.

Banks, credit unions and online lenders offer personal loans to help pay for unexpected veterinary expenses. Personal loans They usually have interest rates from 6% to 36% and repayment periods of two to seven years. Loans start at $1,000 and go up to $50,000 or more, depending on how well you qualify. For quick cash, such as a pet emergency, some lenders offer next-day financing.

For borrowers with strong credit, a personal loan can have lower interest rates than a credit card to pay off big pet bills. A shorter loan term may mean higher monthly payments but also lower overall interest costs. Use a Personal loan calculator To estimate monthly payments based on price and time.

Animal shelters in your area may be another option for caring for your pet. These organizations provide services at a lower cost than a regular veterinarian through private funding and donations.

“We understand that not everyone has money all the time, and we try to meet people halfway,” said Erin Johnson, clinic manager for the Society for the Prevention of Cruelty to Animals in Tulsa, Oklahoma, when it comes to pet care.

In addition to preventive care, the veterinary assistants at the SPCA offer a low-needs clinic for pets with health issues, infections, minor illnesses or in need of X-rays.

While the SPCA can help with minor injuries, Johnson recommends knowing where to find your nearest urgent care vet in the event of a serious accident. “Build a relationship with a full-service veterinarian so you have someone to go to when something goes wrong,” says Johnson.

Signing up for new pet insurance doesn’t help if you don’t have accident insurance, but depending on the plan and provider; Pet insurance It can cover future risk.

Boyd says pet insurance can make sense if you don’t have enough emergency funds or if you have cash flow but no savings. In that case, monthly premium payments help provide coverage and peace of mind if something happens to your pet.

On the other hand, if you have savings for a pet emergency, “I’d drop the pet insurance and basically cover myself,” says Boyd.

“He’s been like a little pillar in my life,” said Bartles, who was relieved to have Buddha home after the surgery. Although the spinal surgery was successful, the costs did not end. Bartles bought an orthopedic bed for Buddha to help him recover comfortably and bought stairs to make it easier for him to get on and off the equipment.

Bartels, who learned the hard way about emergency bills, opened a separate checking account for Buddha’s expenses. She deposits money every month and uses a checking account debit card for pet trips, food and other Buddha-related purchases.

“It makes me feel more comfortable that if we do go through the same situation again, we’ll at least have a buffer of cash to help us,” Bartel says.

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