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the financials of petcare: budgeting with a preventive care package
Pet ownership brings joy and companionship, but it also comes with financial responsibilities that can sometimes catch you off guard.
Budgeting and planning ahead can help you manage your pet’s healthcare costs more effectively. One way to make this easier is through a preventive care package, such as Banfield’s Optimum Wellness Plans®, which spreads the cost of preventive care into predictable monthly payments — a win-win for you and your pet.
The true cost of owning a pet
Owning a pet has upfront costs and recurring ones you’ll want to plan for. Initial costs include adoption fees, first-year vaccinations, spay/neuter surgery, and starter supplies (such as a bed, leash, food bowls, etc.).
Annual recurring expenses often include:
- Food and treats
- Routine comprehensive exams, vaccines, and diagnostics
- Parasite prevention (fleas, ticks, heartworm, intestinal parasites)
- Grooming
- Boarding or pet sitting
There are unexpected costs that sometimes come up too. Pets can get injured or eat things they shouldn’t, which could mean an unexpected emergency trip to the vet. Unexpected illnesses (like diabetes or kidney issues) may occur as a pet ages. Plus, pet owners should also budget for dental cleanings and oral procedures.
According to the Lifetime of Care Study by Synchrony published in 2021, pet owners spend an average of $19,893 to $55,132 over the lifetime of a dog and $15,055 to $45,790 over the lifetime of a cat.
Pets bring endless love and joy, but caring for them also comes with real financial responsibilities. A preventive care package helps you stay on top of your pet’s routine care throughout their life while making costs more predictable. By enrolling in a plan, you not only save money* but also give your pet the best chance at staying healthy and catching issues early.
What is a pet preventive care package and how does it help you budget?
A pet preventive care package is a yearly bundle of routine veterinary services. Instead of paying each time they see the vet, preventive care services — like exams, vaccines, and diagnostics — are bundled into a package with predictable monthly payments. This makes it easier to plan ahead and avoid big one-time bills that can strain your budget.
Banfield’s Optimum Wellness Plans® (OWPs) include comprehensive exams, unlimited office visits, 24/7 Pet Chat™ (in most states), and preventive essentials like vaccinations, diagnostics, and parasite screenings. They also provide valuable discounts — up to 20% off — on most other Banfield products and services. That means you can save money on both routine and unexpected care compared to paying for each service separately.
What’s included in every OWPThink of it this way: without a plan, a procedure like a spay or neuter might feel like a financial roadblock. With Optimum Wellness Plans, those costs are spread out over time, so you can budget for your pet’s care alongside other everyday expenses like rent, groceries, and food. Plus, you get peace of mind knowing your pet has preventive care, which helps them stay healthy and can help catch issues before they become emergencies.
Preventive care package vs. pet insurance vs. out-of-pocket vet care
There are many options for pet owners, and it can be hard to know which option makes the most sense for your needs. The truth is, preventive care packages, pet insurance, and paying out-of-pocket each serve different roles in your pet’s health journey. Here’s a side-by-side look:
| Option | What it includes | Payment model | When it’s a good fit |
| Preventive care package | Preventive care like exams, vaccines, diagnostics, dental cleanings, parasite prevention (varies by provider) | Predictable monthly or annual fee; no claims process | Great for routine care, budgeting for predictable costs, helping you stay ahead of illness with early detection |
| Pet insurance | Accidents, illnesses, emergencies, chronic conditions (coverage varies by policy) | Monthly premium and deductible; reimbursement after claims | Ideal for peace of mind against unexpected vet bills |
| Out-of-pocket care | Any service, but you pay in full at each visit | Pay-as-you-go | Works best for pets with terminal health concerns or preexisting conditions not covered by insurance |
When does each work best?
Many pet owners find that the combination of a preventive care package and insurance helps pets stay healthy while making costs more predictable.
Our Optimum Wellness Plans can help you save a minimum of 30% on preventive care.* That’s especially helpful for new puppies and kittens who need more vaccinations, will be spayed or neutered, and have developing immune systems. It’s also helpful for older pets who benefit from more in-depth diagnostic testing and dental care. Routine preventive care helps catch issues early before they become a more expensive issue later.
Opting for pet insurance is a smart choice for certain pet breeds that are prone to hereditary issues like hip dysplasia, cancer, or diabetes. Dogs with active lifestyles are also at risk for injury, such as tearing a ligament that would require surgery to repair. Insurance can help shield you from some of the financial burden, and it can offer peace of mind for pet owners.
Common misconception: Preventive care packages are not insurance, which covers accidents or emergencies. And insurance usually doesn’t include routine care like exams and vaccines unless you purchase a wellness add-on. Together, though, they can offer more complete care for your pet.
While preventive care packages and insurance offer valuable benefits for many pet owners, there are situations when paying out of pocket may be a better choice. If you’re caring for a pet temporarily — such as fostering or providing end-of-life care — you may not need the ongoing services that a preventive care package provides. Additionally, if your pet has preexisting health conditions that aren’t covered by insurance, paying for veterinary care as needed can sometimes be more practical and cost effective. Every pet’s situation is unique, so it’s important to consider your pet’s health needs, your financial circumstances, and how long you expect to provide care before choosing the best option.
Optimum Wellness Plans by life stage and budget
Designed by Banfield veterinarians, we offer a wide range of OWPs for dogs and cats at different ages and life stages. Your vet can help you decide which plan would best suit your pet.
Early Care plans include age-appropriate preventive care as they grow through puppy and kittenhood. They include essentials like vaccinations, exams, 24/7 access to veterinary professionals, and unlimited office visits to give you peace of mind during that first amazing year. Early Care Plus has all the same services, plus a spay or neuter.
Active Care plans are best for healthy adult dogs and cats over one year old. They include age-appropriate services like vaccinations, exams, 24/7 access to veterinary professionals, and unlimited office visits. Active Care Plus also includes dental cleaning, more testing, and bigger discounts. These plans are designed to help protect your dog or cat from harmful diseases and give them a foundation for wellness.
Special Care plans are for pets that need some extra care along the way. This plan includes additional diagnostic testing to identify age-related issues early and to monitor ongoing health conditions.
Senior Care plans are our most comprehensive package, providing extra support as your pet ages and needs more detailed monitoring. It includes six types of diagnostic testing for detecting changes in organ function and overall physical health, in addition to the essential petcare services included in our other plans.
The cost of Optimum Wellness Plans varies based on your location and plan type, with the average being around $52 per month. Plans start at $26.95 and can go upwards of $100 per month for packages that include more services. All plans include two yearly comprehensive exams, unlimited office visits, routine vaccinations, 24/7 Pet Chat™, and more. See a full list of included services
How Banfield helps you save more on preventive care
Our Optimum Wellness Plans are designed to make care more affordable while making preventive care easy. With unlimited office visits and 24/7 Pet Chat™, you’ll always have access to trusted advice and support whenever concerns come up.
Members also enjoy discounts depending on their pet’s OWP that start at 5% and reach up to 20% off most Banfield products and services. Plans are tailored to your pet’s needs, whether that means extra dental care, radiographs, or ongoing monitoring for chronic conditions. You can even add parasite control at a discount to round out preventive care.
Managing your pet’s OWP is simple too. You can begin enrollment online, view your pet’s records online, and use the Banfield app to handle everything from scheduling to payments in just a few taps.
Ready to enroll your pet? Get started
FAQs: pet budgeting and preventive care packages
Should I get both a preventive care package and pet insurance?
Many pet owners choose both because they serve different purposes. Preventive care packages include routine preventive care, while insurance helps with accidents, illnesses, and emergencies. Together, they help give you more complete care and peace of mind.
What’s the average vet bill without a plan?
The cost of a vet visit varies vastly between the service provided and the location of the clinic. To see how much a visit would cost in your area, find a Banfield location near you and click on “Estimated prices” on the left-hand side of the page.
Can I cancel an OWP early?
OWPs are annual commitments that spread the cost of care over 12 months. If you need to cancel early, you are responsible for the retail cost of the services already used that year minus what you’ve paid on the plan. It’s important that you review the terms before enrolling.
How do I budget for two pets?
No matter the number of pets you have, having predictable monthly payments through a preventive care package can make costs easier to manage.
Interested in Optimum Wellness Plans for more than one pet? We offer a discounted enrollment fee for each additional furry pal of yours.
Is an OWP worth it for indoor cats?
Yes! Indoor cats still need comprehensive exams, vaccines, parasite prevention, and dental care. Preventive care packages help make it easier to stay consistent with routine care and can help catch hidden health issues early.
Ready to make petcare more affordable?
See how much you could save on your pet’s preventive care with plans designed for puppies, kittens, dogs, cats, and seniors.
*Minimum average savings of 30%. Savings are based on our individual service prices compared to discounted service prices in Optimum Wellness Plans. Savings are based on using all services included in a plan.
Important Notice: The information provided on this page is for informational purposes only and is not a substitute for professional veterinary advice. Always consult a veterinarian with any questions regarding your pet's health or medical condition. Never disregard or delay seeking professional veterinary advice based on information from this page.