Cancer Insurance
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The Risk The incidence of cancer in the United States seems to be increasing. 1 our 2 men and 1 out of 3 women will suffer the disease some time in there life. Not only is the incidence high, the cost is rising. New cancer drugs can cost as much as $40,000 per treatment. With the best treatment frequently available only in one of the cancer centers around the country such as M.D. Anderson in Houston and Sloan-Kettering in New York, travel and lodging, loss of time and income, and other miscellaneous expenses can add up quickly. Cancer coverage is designed to help you cope with expenses not covered by your medical insurance. A study by the American Cancer Society shows that non-medical expenses account for 65% of all cancer costs.* A good cancer policy will provide cash for indirect costs, plus the costs associates with other specified diseases and pays you the most for the most severe types of illness *Based on statistics from Cancer Facts & Figures, American Cancer Society, 1999 What costs are covered? Your major medical plan may be adequate to cover most of the medical costs associated with cancer and other illnesses, but not all the actual costs. In addition to medical costs, there are numerous non-medical and indirect expenses patients and their families must contend with…
How are you paid? Cancer policies reimburse you based on the severity of your illness. One significant measure of severity is the type and amount of chemotherapy or radiation treatment required. The best policies are the ones that have the highest reimbursement limit for chemotherapy and/or radiation treatment. Since chemotherapy can cost as much as $2000 per day of treatment or more, the typical $100 or $300 per day reimbursement limit is low. |
Insurance deductibles