For humans, open enrollment time is now – October through December to select and sign up for 2020 medical insurance plans. When it comes to financial planning, it’s really important to take pets into account too in terms of their needs whether it’s upgrading a bed and, of course, veterinary expenses. There is the annual wellness visit — which is a must — and needless to say many unexpected expenses too.
In fact, reports say that approximately 42 percent of millennials have been in pet-related debt and nearly one in 10 are paying it off.
Luckily when it comes to pet insurance policies, there is no open enrollment period. You can shop 365 days a day. If you are thinking about it, or actively shopping, here are some tips from Healthy Paws to consider:
- Plan for recurring expenses: These may include annual medical exams, food, daycare and dog walking services, licensing and pet insurance.
- Ask Your Boss About Pet Insurance: Many companies offer it as a benefit to employees. So ask — or lobby for it.
- Prepare for the unexpected expenses: Pet insurance helps cover unforeseen medical emergencies to ensure that your pet receives quality care without compromising your wallet.