Health insurance and Medicare can help pay for cancer treatment, but a serious diagnosis can create expenses that go beyond the medical bills your primary coverage pays.
You may still face deductibles, copayments, coinsurance, travel expenses, household bills, and other costs while receiving treatment.
Cancer insurance is supplemental coverage designed to provide additional financial protection when you're diagnosed with or treated for a covered cancer.
At Senior Savings Network, we can help you understand how cancer coverage works and whether it makes sense alongside your current health insurance.
LEARN ABOUT CANCER COVERAGE
Cancer insurance is a type of supplemental insurance specifically designed around the financial risks associated with cancer.
Depending on the policy, benefits may be paid when you:
Some policies provide a lump-sum benefit after a qualifying diagnosis, while others pay specific benefits based on the treatment or services you receive.
Coverage varies by policy.
Cancer insurance works alongside your primary health coverage.
Your health insurance or Medicare continues to process your medical claims according to its normal benefits.
If you experience a covered cancer diagnosis or treatment, your cancer policy may then provide additional benefits according to the terms of the policy.
That extra money can help reduce the financial pressure that may come with treatment.
Depending on the policy, benefits may be paid directly to you or toward covered expenses.
Cancer can affect more than your medical bills.
Supplemental cancer benefits may help with expenses such as:
Exactly how benefits can be used depends on the policy.
The goal is to give you additional financial resources at a time when your attention should be on your health.
Medicare covers many medically necessary cancer-related services, including certain doctor visits, hospital care, chemotherapy, radiation therapy, diagnostic testing, and prescription medications when Medicare's requirements are met.
But Medicare doesn't necessarily pay 100% of every covered expense.
Depending on how you receive your Medicare coverage, you may still have:
A supplemental cancer policy may provide additional benefits that help with some of the financial impact of a cancer diagnosis.
Cancer insurance does not replace Medicare, Medicare Advantage, or Medicare Supplement coverage.
It is an additional layer of protection.
Cancer coverage isn't necessary for everyone, but it may be worth considering if you're concerned about the financial impact a serious diagnosis could have on your savings or monthly budget.
You may want to review cancer coverage if:
The right decision depends on your current coverage, budget, and the specific benefits of the policy.
Cancer insurance is supplemental coverage.
It is not designed to replace:
It also generally covers only the cancer-related events or services specifically listed in the policy.
That's why it's important to understand the policy's benefits, exclusions, limitations, and eligibility requirements before enrolling.
A cancer diagnosis can create both medical and financial challenges.
Having additional coverage in place may help provide another layer of protection for your budget.
Senior Savings Network can help you understand the cancer insurance options we offer and how they may fit alongside your current health coverage.
Our help costs you nothing.
GET HELP REVIEWING CANCER COVERAGE
