...
By Lydia Patrick
Life & Trends Reporter
0
Share
Newsweek is a Trust Project member
See more of our trusted coverage when you search.Prefer Newsweek on Googleto see more of our trusted coverage when you search.
Many pet owners are unprepared for medical emergencies, a survey has revealed, with over half admitting they lack the financial resources to cover unexpected veterinary bills.
The findings, from a poll conducted by Talker Research for the insurance company MetLife, showed that the average pet owner spent $2,085.60 on their animals in 2024.
The survey, called "Most pet owners plan a pet health reset in 2025," found more than half of the 2,000 pet owners questioned were not financially prepared for a medical emergency.
Read More on Life
With inflation rising and pets aging, 36 percent of respondents said they anticipated spending even more in 2025, while 45 percent expected to pay similar to the amount in 2024.
...
But how much should you set aside to prepare for emergencies? Here, experts offer Newsweek some insights into managing the rising costs of pet health care.
Building a Pet Emergency Fund
Amber Batteiger, PR and communications manager at Embrace Pet Insurance, emphasized the unpredictable nature of pet emergencies.
She told Newsweek: "Our average individual claim cost in 2024 was $445, but pet emergencies can cost tens of thousands of dollars. For example, our highest individual claim in 2024 was $41,339 for a Rhodesian ridgeback with pancreatitis and a gastrointestinal ulcer."
Batteiger suggested saving $50—$100 per month or aiming for an emergency fund of $2,000-$5,000, though extreme cases may exceed those amounts.
She advised pet owners to consider pet insurance as a safeguard: "One routine vet visit could deplete your entire savings account, depending on where you are in the year. This is why pet insurance is such a valuable option."
Lindsey Wolko, founder of the Center for Pet Safety (CPS), recommended opening a high-yield savings account dedicated to veterinary expenses.
She told Newsweek: "We have spoken to many pet owners who simply cannot afford the veterinary bill and instead have to make the heart-wrenching decision to euthanize their pet.
"Pet owners should gauge their contribution level based on their previous two years of veterinary costs incurred. Pet owners should set aside at least $2,500-$8,000 if they do not have pet insurance as an emergency fund. A multi-pet household should aim for the higher range."
Wolko also advised pet owners to thoroughly research insurance providers and to confirm coverage. She said: "We have seen a noted increase in the cost of pet insurance premiums, which we believe is due to the pressure on the insurance industry due to significant financial impacts from natural disasters.
"Additionally, coverage has changed for many of these insurance providers. It's important that pet owners do their research before signing or automatically renewing with a pet insurance provider."
The Rising Costs of Pet Healthcare
Advancements in veterinary medicine come with a price. Batteiger noted that cutting-edge diagnostics and treatments like MRI scans, laser therapy, and chemotherapy improved outcomes but required specialized equipment and expertise, driving up costs.
Inflation compounds these expenses, with veterinary clinics facing rising costs for supplies, staff wages, and maintenance. Between April 2021 and April 2024, veterinary costs increased by 29.5%, according to the Bureau of Labor Statistics—the largest rise in pet-related expenses.
Additionally, climate change and natural disasters have heightened demand for emergency care, while the pandemic's pet adoption boom has created an aging pet population requiring more frequent medical attention.
Dr. Matthew McCarthy, founder of Juniper Valley Animal Hospital in Queens, New York, highlighted the financial challenges posed by medical advancements.
Fresh from attending the Veterinary Meeting and Expo (VMX) conference on January 27, alongside 20,000 other vets, he shared his insights with Newsweek.
"The lectures are packed with the latest info. And the exhibit hall is filled with cool gadgets that look like they belong on a spaceship or at least in a Tesla," he said. "Everyone's buzzing about how far vet medicine has come and what's next. The advancements are impressive, but they sure don't come cheap."
At the conference, he said, he listened to a talk about a $45,000 mitral valve replacement for a dog. And the cheaper option—a $15,000 mitral clip.
Mitral valve disease (MVD) is a common heart condition in dogs, particularly affecting older, small breeds such as Cavalier King Charles spaniels, dachshunds, chihuahuas, terriers, schnauzers, bichons, and poodles.
"Welcome to vet care in 2025," McCarthy added. "We're trying to keep up with human medicine in tech and results, but sadly, in prices too."
He said there was a need for more affordable care options. "There's a trend now of always wanting the best care, no matter what it costs. It sounds nice, but it turns into a 'Who can pay to save their pet?' issue. Unfortunately, that increasingly means only rich folks can afford it."
According to McCarthy, there is an approach, known as "the spectrum of care," that encourages veterinarians to offer more affordable and accessible treatment options.
"Any vet over 50 will tell you this isn't some revolutionary concept—it's just common sense repackaged for an era that seems to have forgotten it," he said.
McCarthy emphasized the importance of vets incorporating this spectrum into daily practice, allowing them to tailor care to clients' financial situations and avoid pricing people out of treatment for their pets.
Keeping Pet Healthcare Costs Manageable
Proactive care is key to managing costs. Batteiger recommended regular checkups, dental cleanings, and vaccinations to catch health issues early. She also highlighted options such as Embrace's Wellness Rewards plan, which help pet owners budget for routine and preventive care.
For those unable to save for emergencies, Wolko suggested contacting local humane societies or nonprofit organizations that offer low-cost veterinary care. Payment plans and credit options, such as CareCredit, could also provide temporary relief, though Wolko advised reviewing the terms and being aware of high interest rates.
View 0 Comments
Submit Correction
View Editorial & AI Guidelines