As Americans ponder what they’re thankful for this Thanksgiving week, many people would count their pets as a blessing. Yet an estimated 26 percent of pets that are forced into rehoming are because a pet owner can’t pay for their pet’s medical care, according to new research by Healthy Paws pet insurance, a Seattle-based company.
Interestingly, many millennials are choosing pets over having their own children; according to the The Washington Post, it is becoming increasingly more common with three-fourths of Americans in their 30s having dogs and 51 percent having cats. For more people with pets, the cost of care for these pets can get expensive.
Using data from 215,000 claims submitted by Healthy Paws customers, the company was able to compile the most common accidents and illnesses among cats and dogs, new treatments and diagnostics available. With this information, they were able to identify the cost of such care. For example, the most expensive claim for a dog was $44,296 and the most expensive claim for a cat was $14,000.
Along with this, the report outlined that more companies are beginning to provide pet insurance to their employees. According to Healthy Paws, pet insurance is one of the fastest growing voluntary employee benefits in the workplace. Companies such as Home Depot, Forever 21 and Hyatt offer Healthy Paws pet insurance to their employees.
In the latest Healthy Paws pet insurance press release, Rob Jackson the co-founder of Healthy Paws, explained why he felt the report was necessary.
“The report was developed to better understand the financial decisions facing pet parents today,” Jackson said. “We’ll do whatever it takes to keep our pets happy and healthy. While advances in veterinary care are leading to more effective treatment for dogs and cats, the costs associated can become a big burden to pet parents.”
Photo by Kyrre Gjerstad
Hayley Folk is a writer, currently studying Public Relations, in her senior year at California Baptist University. She loves fashion and beauty, sharing other's stories and promoting self-care and confidence.