Pet business is big business, and pet care is not cheap. In an article in the American Veterinary Medical Association's Journal, 97% of surveyed vets said that they have recommended less effective medical solutions simply because owners could not afford the best option. And even more shocking, 90% of vets said they have put a pet to sleep because the owner could not afford what was needed to keep him alive and well. This morning, our financial editor Jean Chatzky came by to talk about the option of pet insurance. WATCH VIDEO. A few weeks ago, we profiled our entertainment reporter Jill Rappaport, and the care that she gave her dog who was battling cancer. The viewer response to her story and her blog entry was huge, prompting this follow up to give viewers a look at other options when it comes to caring for your pet.
I was talking to a fellow researcher in the control room this morning, and she had a specific interest in this story. She went through an illness with her pet rabbit just a couple of months ago. For a day-and-a-half of treatment in the ER, she spent $1500. What did that include? ONE xray and pain medication. And she didn't even leave her rabbit overnight, because that would have cost another $500. She took her rabbit home in pain, strictly for financial reasons, and brought her back the next day. Sadly, she ended up finding herself in the statistic I quoted above... She couldn't afford all the treatment that would be required to treat her rabbit and keep her comfortable, so she had to put her down. So she is sold... she told me she is 100% getting insurance on her next pet. Every pet-owner has a story and can identify with the agony of weighing comfort and love against financial restrictions. The figures are astounding, and pet owners should know the options and know what they are getting into when they bring their four-legged friends home.