With rising inflation, many Australian households are facing financial pressures, making it essential to plan for and manage pet healthcare costs effectively.
Research conducted by PetSure reveals that 68% of pet owners have considered delaying vet visits due to cost concerns. Furthermore, PetSure’s research shows that 40% of pet owners would contemplate economic euthanasia if veterinary treatment exceeded $3,000.
Since pets can be unpredictable, it’s important to be prepared for unexpected vet bills. Here are some tips to help manage pet healthcare costs:
Consult your vet early
If you’re concerned about your pet’s health, you should always speak to a vet. And in many cases, seeing a vet sooner, particularly for a minor concern, could save money – if treatment is delayed, the illness or injury could progress to something more serious requiring more costly treatment.
Be transparent about your financial situation
If you find yourself at the vet clinic, be upfront with your vet about costs and your ability to cover veterinary costs. This might include asking early about the estimated treatment costs, notifying the vet of any financial constraints you may have and disclosing whether you have a pet insurance policy. Discussing finances early on during your vet visit can help avoid any surprises or difficult conversations later about treatment costs.
Look for a GapOnly®-ready policy to minimise upfront costs
A GapOnly® ready pet insurance policy can help ease the stress, with claims sorted before you leave the vet. It’s a convenient payment solution available across Australia that lets you claim on the spot and pay the gap (the difference between the vet’s invoice and your eligible claim benefit). This reduces your upfront out-of-pocket expenses since you don’t need to cover the full cost before being reimbursed. If you’re considering pet insurance, look for a policy compatible with *GapOnly® and check for nearby participating clinics.
Consider vet telehealth for non-emergency consultations
Telehealth services, like VetChat™, provide access to qualified Australian veterinarians through video or live messaging. These services are ideal for non-urgent concerns, such as gastrointestinal issues or mild skin irritations. Most PetSure-administered policies offer free VetChat™ consultations, or they are available for a small fee, allowing you to avoid unnecessary in-person consultation costs. Remember, vet telehealth is intended to complement, not replace, in-person vet care.
Purchase prescription medications online
For conditions like allergies, arthritis, or thyroid issues, buying prescription medications from online pet pharmacies like Pet Scripts can offer significant savings. Pet Scripts provides convenience with fast delivery options and access to a wide range of prescription medications, ensuring your pet’s needs are met with ease. Additionally, through My Pet Pass, you can access exclusive discounts and streamlined services for managing pet prescriptions, making it even easier to stay on top of your pet’s health requirements while saving both time and money.
However, this is not suitable for emergency treatments requiring immediate administration. If in doubt, consult your vet for recommendations on reliable online pharmacies.
Adjust your pet insurance premium
If you’re struggling with pet insurance payments, consider lowering your premium by adjusting your coverage level or opting for a higher excess. This can help reduce your monthly costs while still providing essential protection for your pet’s health.
By taking these steps, you can manage your pet’s healthcare expenses more effectively, ensuring your furry friend stays happy and healthy without overwhelming your budget.
*GapOnly® is a trademark owned by PetSure (Australia) Pty Ltd ABN 95 075 949 923, AFSL 420183. GapOnly® is available on eligible claims at participating vets with a pet insurance policy from a GapOnly® pet insurance partner.
Insurance products are issued by The Hollard Insurance Company Pty Ltd ABN 78 090 584 473, AFSL 241436 (Hollard) and/or PetSure (Australia) Pty Ltd ABN 95 075 949 923, AFSL 420183 (PetSure) (from 8th May 2023 only), administered by PetSure and promoted and distributed through their authorised representatives and distribution partners. Any advice provided is general only and does not take into account your individual objectives, financial situation or needs. Cover is subject to the policy terms and conditions. You should consider the relevant Product Disclosure Statement (PDS) to decide if a product is right for you. PDS and Target Market Determination are available from the relevant partner’s website.
Sources
Animal Medicines Australia 2022, Pets in Australia: a national survey of pets and their people, Animal Medicines Australia
PetSure 2022, Research on customer sentiment towards vet bills, September–October, PetSure
PetSure 2023, Claims data for the 2023 calendar year, PetSure
Pet insurance can help by covering a portion of the eligible vet bill if the unexpected happens. Because it is difficult to predict the costs of veterinary care, it can help to have measures in place to help prepare for the unexpected. Check out our partner network and explore our policy tools to find a pet insurance policy.
Not all conditions or items are covered by Pet Insurance. Refer to the applicable Product Disclosure Statement for information about coverage and exclusions.