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Cancer Insurance
According to the American Cancer Society:
• In the United States, men have a little less than a 1-in-2 lifetime risk of developing cancer; for women the risk is a little more than 1-in-3.
• About 1,437,000 new cancer cases are expected to be diagnosed in the next year.
• Cancer is the second most common cause of death in the United States, exceeded only by heart disease.
As advances in cancer treatment continue, more and more people will survive:
• Approximately 10.8 million Americans with a history of cancer were alive in January 2004.
• The five-year relative survival rate for all cancers diagnosed between 1996 and 2003 is 66 percent.
The National Institutes of Health estimated the overall costs for cancer in the year 2007 at $219.2 billion.
Although major medical insurance can help with the costs of cancer treatment, you still may have to cover deductibles and co-payments on your own.
Additionally, cancer treatment can cause out-of-pocket expenses that aren’t covered by major medical health insurance:
• Travel
• Food
• Lodging
• Long-distance calls
• Child care
• Household help
Meanwhile, living expenses such as car payments, mortgages or rent, and utility bills continue, whether or not you are able to work. If a family member has to stop working to take care of you, the loss of income may be doubled. Cancer insurance helps provide an important safety net in fighting the financial consequences of cancer that result beyond major medical.
