Ok but can we please talk more about pet insurance! I recently got two kittens after my last cat passed. I did not have pet insurance when my old cat developed congestive heart failure and ended up paying some $10K and she ultimately had to be euthanized (RIP baby cat). But now, of course, I have been considering getting insurance for my new kittens. However, I've been advised that pet insurance is a scam because veterinary clinics jack up their rates, knowing people might have insurance. I'm skeptical of this take because 1) pet insurance does not work like human health insurance. Veterinary clinics don't know if you have pet insurance. 2) Rather, I think if vet costs are actually going up, it's due to corporate consolidation/private equity snapping up clinics. This is all speculation, but I'd love to see a breakdown on whether pet insurance is actually worth it. I think the best compromise is to get basic insurance that covers emergencies and unforeseen illness while putting away some extra $$ for your pet in your own savings account. I need Katie's thoughts on this!
My very wise wife got it for our golden retriever when he was a puppy. We basically broke even on $ throughout his life as he was on various allergy medications. But it really came through when he was diagnosed with osteosarcoma. Between the surgery and the (very well tolerated) chemo he lived another 2 years. Trupanion was just great. They paid 90% of what must have been between $50k-$100k over those last two years. Would have been an enormous hardship without it. I’ll never go without pet insurance - don’t ever want to make choices for my dogs based on $ rather than based on what’s best for them.
I'm curious if you went with insurance that covered only things like injury, diagnostics, procedures (specialty/emergency care, hospitalization, surgery), and medication, or if you added on other coverage like wellness/routine vet visits, dental, end of life, or anything else - if you added any additional coverage, was it worth it?
Ugh to be honest I am so opposed to pet insurance not only because it’s generally a scam (unless you’re insane aka would actually pay tens of thousands for medical treatments for a pet that most humans don’t even get) but because it supports/creates industry that is making pet care cost as much as human medical care in this country.
Katie actually did an episode on pet insurance a handful of years ago!! I think her conclusion was that over Georgia’s 🐾 life (RIP 🕊️), she still came out ahead not paying premiums over the course of her mostly healthy life. Of course it’s different for every dog.
I have it for my dogs (accident/illness only, no routine)— if there was an accident I don’t want to be on the hook for either saving their life or not having/wanting to spend the money. That peace of mind is worth it for me.
I am not Katie but for everyone considering pet insurance, especially for new pets, kind reminder that most have waiting periods (1-30 days) before becoming active. Best of luck to everyone’s staying healthy (including financially)
I've had issues filing claims with my pet insurance and have still be out of pocket quite a bit. It might have been nice to get it before my puppy was diagnosed with severe hip displasia but at this point I feel like I'm paying double because the insurance won't cover it. I get that and the vet still recommended we get it for her for future issues but it's expensive.
Also you can get a Care Credit line with no interest for 6-12 months depending on the amount you charge. It is very helpful for animals and humans with or without insurance. We've used it a lot for radiation treatment, general sick services, etc. I have one dog with sarcomas and one with hip displasia 😫
ok the range in incomes in the NY Mag article is absolutely crazy and there's no more blatant statement of the kinds of work we value. I was happy to see sex work being so highly remunerated 🤣. But that home health aide. We should be collectively embarrassed about that.
I am weirdly passionate about pet insurance and have a Pet Insurance ROI spreadsheet. My Bernedoodle Phoebe is apparently quite delicate, and she's had two shoulder surgeries (just weird, chronic inflammation that can't really be explained but was very painful) and is now staring down the barrel of a torn ACL. Yes, for those keeping track at home, that's 3 out of 4 limbs that will have had orthopedic surgery before the age of 6.5!
I felt really strongly about getting her pet insurance as a puppy (for illness and injury only, not vet exams or wellness packages that include vaccines) and holy hell, am I glad I did. I can try to link my full spreadsheet, but the net-net is this:
- Since 2020, I've paid $3,004.69 in pet insurance monthly fees.
- In 2022 (her first surgery), I paid $7,765.56 out of pocket and was reimbursed $5,720.68, for a total spend of $2,044.88.
- After that, I got wise and sprang for the PT/Rehab add-on. Good thing, because she needed the same surgery on the other shoulder in May 2024 and a round of PT afterwards. She also had a suspicious lump we got taken out. Total 2024 costs were $11,753.70 out of pocket, reimbursed $7,499.68, for a total spend of $4,254.02.
- With pet insurance, I've saved at least $13,220.36. Yes, I've still spent $9,309 (including her monthly insurance fees) but that is much more palatable to me than the $19,519.26 I would have spent without insurance.
I know a lot of people think pet insurance is a scam or you're better off just putting the money you would have spent in a HYSA or something, but even if I'd put $100 a month away since I got her in January 2020, the savings wouldn't have accrued at the rate I needed them to in order to pay for her surgeries and PT in full.
Dogs are expensive and delicate! And I make six figures—but even then, her surgeries would have really, really hurt me financially. Pet insurance has saved me an incredible amount of stress so I can focus on her. I recommend it with my full chest.
I think pet insurance can be a gamble. I started a savings account for my pet and he has had 3 oral surgeries and I'm still ahead of the game by 3K. He is 14 and hopefully will live at least 5 more years. I will say he is a chiweenie and we have been lucky that he is healthy and hasn't had any accidents. His size also allows me to give him the best food and exercise possible and I do believe that has served him well. Also, I'm unwilling to do chemo on my pet. Just a personal choice/opinion. If you are willing to do go the chemo route with a pet then I would get health insurance because how could you afford it otherwise?
There are multiple forms of chemo, my cat and my friend’s dog are on oral chemo (a pill) that costs ~$70/month. Jsyk
In my experience so far, the diagnostic things (ultrasound, bloodwork) have been more expensive than the treatments. And pet insurance had been super helpful in paying for those. If you get a high deductible (like $900) plan, the premium is not very expensive.
Good to know. My BIL did treatments with his cat and it was crazy expensive. I'm sure it was either because of his location (NYC) or it was a different type of cancer.
I shuddered at the Glendale Cherry Creek Chronicle pop out--was not expecting that! Before we moved to Wash Park we used to get that delivered to our house (against our will) and it was horrifying every time.
I know you open up the AmEx card for quick approve, but I'm curious if you had considered Care Credit and opted not to use it. I know Care Credit can help with medical and vet bills - I don't have it but have been considering it - so I was wondering if there were benefits to AmEx over something like Care Credit?
Re: Interior design trends - Arches. Arched doorways, arched mirrors, arched shower doors. All I see is tombstones everywhere. (Sorry if this is your vibe. It's your home, and you should love it.)
I've read you for a while (via email but not substack, apparently?) and always find it useful. But this one is jam-packed. Like, bookmarked 4-5 things to explore more. Thanks for all work you're putting in, it's appreciated!
Ok but can we please talk more about pet insurance! I recently got two kittens after my last cat passed. I did not have pet insurance when my old cat developed congestive heart failure and ended up paying some $10K and she ultimately had to be euthanized (RIP baby cat). But now, of course, I have been considering getting insurance for my new kittens. However, I've been advised that pet insurance is a scam because veterinary clinics jack up their rates, knowing people might have insurance. I'm skeptical of this take because 1) pet insurance does not work like human health insurance. Veterinary clinics don't know if you have pet insurance. 2) Rather, I think if vet costs are actually going up, it's due to corporate consolidation/private equity snapping up clinics. This is all speculation, but I'd love to see a breakdown on whether pet insurance is actually worth it. I think the best compromise is to get basic insurance that covers emergencies and unforeseen illness while putting away some extra $$ for your pet in your own savings account. I need Katie's thoughts on this!
My very wise wife got it for our golden retriever when he was a puppy. We basically broke even on $ throughout his life as he was on various allergy medications. But it really came through when he was diagnosed with osteosarcoma. Between the surgery and the (very well tolerated) chemo he lived another 2 years. Trupanion was just great. They paid 90% of what must have been between $50k-$100k over those last two years. Would have been an enormous hardship without it. I’ll never go without pet insurance - don’t ever want to make choices for my dogs based on $ rather than based on what’s best for them.
I'm curious if you went with insurance that covered only things like injury, diagnostics, procedures (specialty/emergency care, hospitalization, surgery), and medication, or if you added on other coverage like wellness/routine vet visits, dental, end of life, or anything else - if you added any additional coverage, was it worth it?
Ugh to be honest I am so opposed to pet insurance not only because it’s generally a scam (unless you’re insane aka would actually pay tens of thousands for medical treatments for a pet that most humans don’t even get) but because it supports/creates industry that is making pet care cost as much as human medical care in this country.
Katie actually did an episode on pet insurance a handful of years ago!! I think her conclusion was that over Georgia’s 🐾 life (RIP 🕊️), she still came out ahead not paying premiums over the course of her mostly healthy life. Of course it’s different for every dog.
I have it for my dogs (accident/illness only, no routine)— if there was an accident I don’t want to be on the hook for either saving their life or not having/wanting to spend the money. That peace of mind is worth it for me.
Thanks for the tip! I'll try and find that episode
https://podcast.moneywithkatie.com/i-spent-9000-on-my-dog-would-pet-insurance-have-helped/ !
Omg thank you!!
I am not Katie but for everyone considering pet insurance, especially for new pets, kind reminder that most have waiting periods (1-30 days) before becoming active. Best of luck to everyone’s staying healthy (including financially)
I've had issues filing claims with my pet insurance and have still be out of pocket quite a bit. It might have been nice to get it before my puppy was diagnosed with severe hip displasia but at this point I feel like I'm paying double because the insurance won't cover it. I get that and the vet still recommended we get it for her for future issues but it's expensive.
Also you can get a Care Credit line with no interest for 6-12 months depending on the amount you charge. It is very helpful for animals and humans with or without insurance. We've used it a lot for radiation treatment, general sick services, etc. I have one dog with sarcomas and one with hip displasia 😫
Also have two new kitties and wondering about pet insurance!
ok the range in incomes in the NY Mag article is absolutely crazy and there's no more blatant statement of the kinds of work we value. I was happy to see sex work being so highly remunerated 🤣. But that home health aide. We should be collectively embarrassed about that.
I am weirdly passionate about pet insurance and have a Pet Insurance ROI spreadsheet. My Bernedoodle Phoebe is apparently quite delicate, and she's had two shoulder surgeries (just weird, chronic inflammation that can't really be explained but was very painful) and is now staring down the barrel of a torn ACL. Yes, for those keeping track at home, that's 3 out of 4 limbs that will have had orthopedic surgery before the age of 6.5!
I felt really strongly about getting her pet insurance as a puppy (for illness and injury only, not vet exams or wellness packages that include vaccines) and holy hell, am I glad I did. I can try to link my full spreadsheet, but the net-net is this:
- Since 2020, I've paid $3,004.69 in pet insurance monthly fees.
- In 2022 (her first surgery), I paid $7,765.56 out of pocket and was reimbursed $5,720.68, for a total spend of $2,044.88.
- After that, I got wise and sprang for the PT/Rehab add-on. Good thing, because she needed the same surgery on the other shoulder in May 2024 and a round of PT afterwards. She also had a suspicious lump we got taken out. Total 2024 costs were $11,753.70 out of pocket, reimbursed $7,499.68, for a total spend of $4,254.02.
- With pet insurance, I've saved at least $13,220.36. Yes, I've still spent $9,309 (including her monthly insurance fees) but that is much more palatable to me than the $19,519.26 I would have spent without insurance.
I know a lot of people think pet insurance is a scam or you're better off just putting the money you would have spent in a HYSA or something, but even if I'd put $100 a month away since I got her in January 2020, the savings wouldn't have accrued at the rate I needed them to in order to pay for her surgeries and PT in full.
Dogs are expensive and delicate! And I make six figures—but even then, her surgeries would have really, really hurt me financially. Pet insurance has saved me an incredible amount of stress so I can focus on her. I recommend it with my full chest.
I think pet insurance can be a gamble. I started a savings account for my pet and he has had 3 oral surgeries and I'm still ahead of the game by 3K. He is 14 and hopefully will live at least 5 more years. I will say he is a chiweenie and we have been lucky that he is healthy and hasn't had any accidents. His size also allows me to give him the best food and exercise possible and I do believe that has served him well. Also, I'm unwilling to do chemo on my pet. Just a personal choice/opinion. If you are willing to do go the chemo route with a pet then I would get health insurance because how could you afford it otherwise?
There are multiple forms of chemo, my cat and my friend’s dog are on oral chemo (a pill) that costs ~$70/month. Jsyk
In my experience so far, the diagnostic things (ultrasound, bloodwork) have been more expensive than the treatments. And pet insurance had been super helpful in paying for those. If you get a high deductible (like $900) plan, the premium is not very expensive.
Good to know. My BIL did treatments with his cat and it was crazy expensive. I'm sure it was either because of his location (NYC) or it was a different type of cancer.
I shuddered at the Glendale Cherry Creek Chronicle pop out--was not expecting that! Before we moved to Wash Park we used to get that delivered to our house (against our will) and it was horrifying every time.
Born just in time to LinkedInfluence 😭
That bit had me hugging my knees, rocking in the corner, not gonna lie.
Watching Coloradans perpetually, angrily shaking their fists at Kyle Clark is some of the best entertainment offered by CO
I know you open up the AmEx card for quick approve, but I'm curious if you had considered Care Credit and opted not to use it. I know Care Credit can help with medical and vet bills - I don't have it but have been considering it - so I was wondering if there were benefits to AmEx over something like Care Credit?
More puppy pictures!
Re: Interior design trends - Arches. Arched doorways, arched mirrors, arched shower doors. All I see is tombstones everywhere. (Sorry if this is your vibe. It's your home, and you should love it.)
I wonder if the dispensary owner is a Friends fan - Ross Gellar selling Brown Bird at NYU, anybody? 😂
Can you speak to the line of credit? Curious to see how it works.
I've read you for a while (via email but not substack, apparently?) and always find it useful. But this one is jam-packed. Like, bookmarked 4-5 things to explore more. Thanks for all work you're putting in, it's appreciated!