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| Shopping for Cancer Insurance
When considering the purchase of a supplemental cancer policy, you should ask yourself the following questions:
How much does your current health plan cover?
Many health plans cover medical expenses associated with fighting cancer, such as radiation/chemotherapy, surgeon/anesthesiologist fees or hospital stays. However, a policy should be examined closely to see if it contains provisions for treatment in a cancer center, experimental treatment, cosmetic/reconstructive surgery and other indirect medical expenses.
Also figure out exactly how much your out-of-pocket coinsurance and deductibles will be with this plan. Will you be able to afford your share of medical expenses as well as the in-direct, non-medical expenses associated with cancer, such as loss of income, travel or at-home care with your current assets?
Am I at risk for cancer?
According to American Cancer Society statistics, cancer is the second leading cause of death in the United States, exceeded only by heart disease.
It is estimated that the overall yearly cost for cancer in the U.S. exceeds $156.7 billion (2001), including loss of productivity and income while a patient receives treatment. Few families are equipped to handle the financial hardship brought about by a diagnosis of cancer in a family member, much less if that family member’s illness means that income is lost. In fact, 12% of families report members who delay in obtaining care or opt not to receive needed health care services, citing cost as the primary reason.
Examine your family tree to see if there is a history of cancer. If so, you may be at a greater risk. For example, women who have a first-degree (mother, sister, or daughter) family history of breast cancer are two times more likely to develop breast cancer than women without a family history of the disease. Since environmental and other factors can also contribute to cancer occurrence, you should consider your lifestyle. Smoking and poor diet have been linked to some types of cancer.
UNITED AMERICAN offers a Cash Benefit Cancer Plan that provides supplemental protection for you and your family. The plan pays cash directly to you in the event of diagnosis of internal cancer or malignant melanoma. You decide what to do with the money. It can be used for medical care, experimental procedures, cosmetic reconstructive surgery, transportation and lodging, home care, mortgage payments, deductibles or co-insurance, whatever YOU decide.
Source: American Cancer Society, "Cancer Facts & Figures", 2002.
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