Cancer Costs: Out of Pocket
Cancer costs are not limited to initial medications or treatment – the world of cancer expenses is very costly and complex. According to statistics from the American Cancer Society, only 40.6% of total cancer costs are “direct” medical costs (hospitalization, medicine, treatments, deductibles and co-pays). Some direct medical costs may be covered by standard medical insurance, but many are not. The majority of cancer-related costs (59.4%) are indirect, including lost income, living expenses, lifestyle modifications, transportation and alternative treatments. None of these indirect expenses are covered by traditional health insurance. (1) (2)
Cancer insurance is designed to provide funds for both direct and indirect costs of cancer that regular insurance does not cover. A cancer insurance policy pays a lump sum benefit upon first diagnosis of a covered condition, allowing you to pay for treatments, living expenses or anything else you need. Cancer insurance is a stand-alone policy; if you have no current health insurance, you can still take out a cancer insurance policy and receive a lump sum benefit. Get a cancer insurance quote online now below.
Does your family have a history of cancer? Be prepared.
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Sources:
(1) 2007 and 2008 Cancer Facts & Figures, Insurance and Cost-Related Barriers to Cancer Care, American Cancer Society® 2008 Cancer Statistics Presentation, American Cancer Society®
(2) American General Life Insurance Company: CriticalCare Plus Client Guide 2009