During a break at the recent Defender Kentucky Three-Day Event in April, I sat down with Jennifer Brocker, Vice President of Client Marketing, Veterinary/Pet Care, CareCredit, and Kate Hayes, Vice President Equine Expansion, CareCredit. The company recently surveyed horse owners on the expected versus actual costs of horse care, and the results were pretty surprising.  

The study revealed that while 83 percent of horse owners believe they’re financially prepared, actual costs can be three to four times higher than expected—especially when unexpected veterinary needs arise, such as colic or orthopedic injuries that can cost up to $10,000. 

Horse Illustrated: Can you tell us what the new Equine Lifetime of Care Study means for equine vets and horse owners, and why many underestimate the long-term financial commitment of owning a horse?  

Jennifer Brocker: We originally did our Lifetime of Care Study for companion animals (dogs and cats). And then we decided we needed the same kind of information for equine veterinarians and horse owners, so they have a better understanding of how much money they spend over the lifetime of a horse. The way we saw it was, you’re helping prepare them for what’s to come. And since cost of care is one of the biggest barriers for horse ownership or pet ownership, we felt it was important knowing in advance and being educated on the ways that you can be prepared financially over the lifetime of your animal. We also thought it was important that veterinarians have a view into that as well.  

Kate Hayes: It’s such a great tool to educate and empower clinics and practices and veterinarians, but then also on the flip side, like Jen said, to educate horse owners. Because whether people rescue a horse or get into riding for the first time, they know what a riding lesson costs, but they don’t know what the full expense of owning a horse costs. This [study] is a great tool to empower and to educate practices and clinics because this gives them information to pass on to their clients. 

HI: What are some strategies equine vets are using to navigate rising costs, including tools to reduce financial friction with clients, while maintaining high-quality care?  

Brocker: The strategy a lot of equine veterinarians use is, “If you can’t pay me today, I provide the care, and you can pay me later,” which leaves the veterinarian chasing the money. So we can train the veterinarians to say, “I want to take care of your horse, but that requires financial responsibility. Here are the solutions that we have in our practice to help you be ready.” The horse owner needs to understand that the veterinarian must be paid just like their board bill or hay bill is paid.  

Hayes: We’re a partner with them and their business to help that shift. Regardless of what type of veterinarian you are, it’s cost that’s the biggest point of friction between you and your clients. If you talk about it from the beginning, that moment of friction is reduced, so the unexpected medical moment doesn’t also come with an unexpected financial crisis.  

HI: How is CareCredit partnering with equine clinics nationwide to improve access to care while supporting sustainable practice growth? 

Brocker: We’re partnering up with [equine vet practices/clinics] on various levels. First, helping educate their team. How do you have a comfortable financial conversation with a horse owner? If you don’t talk about it and you’re not comfortable talking about it, that in and of itself is a barrier. So we have a lot of training and education to help the veterinary team not be afraid to bring it up, helping them with proactive confidence in that financial moment where everybody’s really emotional.  

The other thing [CareCredit is doing to help equine vet clinics] is we’ve created an all-digital financial experience, so regardless of whether you’re in the clinic or you’re out at the barn, you can apply for CareCredit, get approved, and pay—all from your phone. We’ve always been available in equine practices, but when we first went into it, our payment experience didn’t fit their model. Now they can get paid anywhere, anytime. 

Hayes: If you look at our partnerships on a bigger scale with the AAEP (American Association of Equine Practitioners), being an educational partner for them allows us a platform. Education is the key word here. It supports the sustainability of the profession by providing resources that are specific to their workflows, because the ultimate goal is what’s best for the horse and what’s best for the horse owner. If we can help remove some of the barriers that are between a horse owner getting the treatment for their horse, then that’s what we’re here for.  

We also partner with universities. The future veterinarian is also very important to us, so by the time that they’re in practice, that financial conversation isn’t as quite as challenging. It’s tough being a veterinary student—there’s a lot of information thrown at you, so of course the business side isn’t always top of mind. By supporting the universities and organizations that support the future veterinarian, it allows us a platform to be able to educate and help them before they’re actually in practice.  

HI: What is CareCredit?  

Hayes: CareCredit is a health and wellness credit card that horse owners can use for all types of veterinary services, treatments, and diagnostics.* It’s a great fit for the equine profession because instead of invoicing after service has been completed, this gives you the opportunity to pay upfront—the veterinarian is able to capture payment in full up front, but the horse owner has 6, 12, 18 months of interest-free [time to make the payments].

*Subject to credit approval 

Brocker: I think one of the best things about CareCredit is once you have the credit card, you are financially ready for whatever happens, whether it’s wellness or unexpected or surgery. And you can use it for whatever animal you have at the veterinarian. It is truly your family credit card for life’s unexpected expenses.  

View the entire Equine Lifetime of Care Study here. 

To learn more or apply for a CareCredit card, visit www.carecredit.com.  

The post What Does a Lifetime of Horse Care Cost? appeared first on Horse Illustrated Magazine.

Most of us have had an endless dialogue running through our minds about what that “right thing” is, and finally decided upon a course of action. Seems like that should alleviate any lingering doubts and put our minds at ease, right? Not always.

The bottom line for most horse owners is the welfare of the horse, yet some of us have a difficult time seeing past our own emotions enough to define what constitutes a good life for a horse.

Costly Vet Bills

All horse owners cross their fingers and hope they will never face a vet bill deeper than their pockets. We know the high probability of our horse getting a costly injury, colic scare, or disease, yet we rarely set aside money to cover a medical worst-case scenario. Then when disaster strikes or an injury requires long-term veterinary care, we find ourselves between the proverbial rock and a hard place.

A horse’s age, health history, prognosis for the current problem, and treatment expense become key determining factors when deciding on the next step. Sometimes the cost of treatment far exceeds an owner’s ability to pay.

Well-intentioned owners may extend the life of an old horse long past the time it should be humanely euthanized, or delay veterinary treatment because of their own inability to face facts. For them, anticipating grief takes precedence over the animal they can’t bear to part with.

Veterinarians are often on the front lines of this type of indecision, and usually help owners by recommending what would be in the best interest of the horse. This can be the clarifying information horse owners need to get past their emotional hesitations. Far too many distraught owners throw caution to the wind and take on substantial debt with no guarantee of a positive outcome.

If the horse is young with a survivable injury, someone may be willing to take on the cost of treatment in exchange for transfer of ownership. Many horses with a career-ending injury for one activity are often suitable for another less physically demanding one, or can live out their lives as companion animals.

If not already overcrowded, many horse rescue organizations are willing to go the extra mile for a horse with a good chance of survival and utility. They may have enough staff and volunteers to support longer recoveries.

If efforts to re-home your horse fail, humane euthanasia is always an option, yet it’s no simple solution, even when fully justified. Owners may find themselves on the defensive with family and friends who don’t understand why such a drastic measure is necessary.

Acceptance comes from knowing all other options have been considered. Animals don’t ponder the future the way we do, thus a life filled with pain is never preferable to a peaceful passing.

Firing Professional Help

Some of us see our horse trainer, riding instructor, and farrier more often than many relatives, and form long-term relationships that seem more like friendships than business acquaintances.

Occasionally, problems arise and you may need to terminate their services. You can take action and feel comfortable with your decision; explain your reasons for the change and keep the conversation from becoming personal.

Dismissing someone is much easier if you feel certain you are doing the right thing for your horse and word it that way.

Selling Your Horse to Save Money

Money is at the root of most horse/owner splits. A family that suddenly loses half of their income due to loss of a job or divorce must make financial sacrifices that cut straight to the heart.

Because horse ownership makes a big dent in everyone’s budget, it is often the most obvious expense to eliminate. Owners who board their horses can sometimes bargain for reduced fees by working as stable help, but boarding stable owners may already have the hired help they need.

Sadly, selling your horse may be the best resolution even though it’s the most emotionally painful. If you’re lucky, you may find a new owner who is amenable to your continuing involvement with your horse by share boarding, where you pay an agreed-upon amount to allow you several days per week of access to your horse. This can be a win-win arrangement with two riders keeping the horse fit and reducing expenses for the new owner.

Most sales, however, require you to cut ties with your horse when the buyer’s trailer heads down the driveway. A goodbye pet on the nose for a horse you’d prefer to keep is crushing.

If you do plan to share-board, always create a written agreement signed by both participants to avoid misunderstandings. Also, make sure boarding stable managers approve of this type of arrangement at their barn. Rules, regulations, and insurance coverage are all factors to understand and agree to before day one of a new share-board arrangement.

Editor’s Note: New grants and programs are helping horse owners faced with sudden financial difficulties so they can safely relinquish or even keep their horse. Learn more about equine safety net programs.

When Health Intervenes

Consider yourself lucky if you’ve never had to alter your riding activities due to your horse’s health or your own. Many competitors have had their dreams crushed the moment their horse took one bad step.

Disappointment is an understatement when you must withdraw from a competition that required years of training. Clearly, the welfare of the horse is paramount and the correct course of action usually obvious, yet emotional fallout is unavoidable.

Your own health may fail due to an accident, illness, surgery, pregnancy, or age-related issue that causes a diminished ability to ride or work safely with horses. Your body dictates what it can and cannot do, and riding may become beyond your physical capabilities.

This is a bitter pill to swallow for most of us, especially if we must rehome a beloved horse. The best way to soften the pain is to find a new owner who will care for your horse as lovingly as you do.

Filling the Horse Void

Owning a horse is not the only way to enjoy a life with them. Leasing or share-boarding provides a great opportunity for you to stay in the game. You’ll still incur costs, but far fewer than being responsible for all of them.

If riding is out of the question, volunteering at local rescue operations or teaching the basics to those new to horses are options. Sharing your experience and skills with others is often the healing salve for those who would feel lost without a connection to horses.

This article about a horse owner’s most difficult decisions appeared in the September 2023 issue of Horse Illustrated magazine. Click here to subscribe!

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