Mo-Kitties, Mo-Problems - Health Care

I just got an e-mail from the cat association that I registered William with. They have a pet insurance program. That got me thinking....I'm going to have four cats very soon...should I get pet insurance? To me it came down to this: How much does it cost? What are the benefits? Will I need it soon? Can I save up for cat emergencies myself?


How often do you take a cat to the vet? Well, young cats need to go in for vaccine boosters and maybe an upper respiratory infection. That may cost $100-200.00 per kitty if it gets sick. That can add up fast. BUT, after the initial shots and their first kitty cold, cats are pretty healthy pets. Then it's just a matter of saving for the unexpected major illness (cancer, kidney disease, etc). Those treatments can cost over $5,000.00 per cat if it's an ongoing treatment. So, how fast can I save $5,000.00? AND should I save $5,000.00 per cat? That's $20,000.00 for a cat Health Savings Account. WOW!

So, if I started next pay date which is 7/9/2010 and saved $50/pay how long would it take to save $20,000.00(not counting accruing interest)? Well, I would have $20,000 by 10/24/2025. That's 15 years! How long do cats live? If it's well taken care of, it seems like the average is 15-20 years. So, by the time the cats are close to deaths door I will have $20,000 saved up for their health care...Hmm, let's look closer at pet insurance.

What does the Insurance cost? $12.83/month - $65.42/month
What are the Benefits? $1500-$5000/per incident with a maxium of$ 8000-$13,000 per term
What's Covered by the Benefits? As little as surgeries and prescriptions to All preventative and emergency care.

So, if the cost stayed the same(which it won't), how much would 15 years of pet insurance cost me? The best plan is about $11,000 for one cat...multiply that by 4 and you have $44,000!

Well, now the question. To buy insurance or not to by insurance?

For right now I'm going with a savings account, preventative care, quality food and water, and a healthy environment. The long term expenses are too high for me to justify giving the money away to an insurance company. I'll save up in an account I own. If my cat's get sick, I'll have the money. BUT, if they don't get sick...I'll STILL have the money!