In Central Oregon, we love our animals. Because of local ranches, we have lots of livestock, and we even have our Alpacas and Llamas. And our smaller friends, such as dogs and cats, they seem to be everywhere with their owners, even grocery stores and restaurants. Many local businesses cater to animals along with their paying human customers. We thought sharing 6 ways to handle unexpected Vet bills would be a relevant topic.
Pet’s Medical Expenses Can Be Expensive
So, if you’re an animal lover with a few pets, you do your best to take care of your furry or feathered friends. Like you, they’ll need health check-ups and will get sick or injured at some time, requiring medical attention.
To make sure those expenses don’t become a financial burden, or are so costly that you can’t afford the treatment, here are six ways to help you prepare for and deal with them.
Six Ways to Meet The Need.
1. Negotiate an installment plan. If you’ve been a customer in good standing, your vet may be willing to accept payment in monthly installments.
2. Find animal welfare organizations or charities in your community. Some animal shelters offer veterinary loans and grant programs, and many veterinary schools run low-cost clinics.
Prepare in Advance
3. Create a savings account specifically for pet expenses. If you have many pets or one with a known medical condition, put aside a set amount each pay period in a separate account just for those expenses. Mid Oregon has a great tool to make this happen: Savers’ Club. Visit our Savings Account page and select the “Certificates” tab.
4. Pet insurance. There are quite a few pet insurance companies to choose from, like Figo Pet Insurance, Healthy Paws, and Trupanion. Many won’t cover pre-existing conditions, so choose an insurance company before your pet develops a chronic condition.
If You Need to Borrow…
5. Care Credit. Many vets accept this credit card which is specifically made for health care expenses, including your pet’s. It offers different financing options, some even foregoing interest charges for 24 months, as long as you make minimum monthly payments and pay the amount in full by the end of the promotional period. If you do not, interest is charged from the original purchase date.
6. Apply for a personal loan. If your pet’s treatment is going to be a major expense, then consider asking the credit union for a personal loan. The loans usually have a fixed rate and must be repaid in monthly installments within a set amount of time. We may be able to find a less-expensive loan option, so talk to us first.