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The Benefits of a Cancer Policy with Medicare

The Benefits of a Cancer Policy with Medicare
11/15/2022
  • Medicare with Melissa

Do I need cancer insurance?

Cancer is one of those topics that is naturally uncomfortable to talk about. We all likely know someone that has been impacted by cancer, in some way, shape or form. There are several reasons to consider adding cancer insurance with Medicare.

Even if you aren’t on Medicare, you may still qualify for a cancer insurance policy. The age to qualify for cancer insurance coverage is 18, with most companies.

What is cancer insurance?

Cancer Insurance is a type of “cash indemnity” health plan that provides a lump sum payment upon cancer diagnoses.

You can purchase a cancer insurance policy through private insurance companies, like, Aetna, Mutual of Omaha, AFLAC and many more.

Most companies offer coverage amounts as low as $5,000 and some go as high as $100,000.

Why do I need cancer insurance?

Whether you have a Medigap Plan, Medicare Advantage Plan, Medicare Drug Plan, group health insurance or ACA (ObamaCare) insurance, there are gaps in your health coverage when it comes to cancer.

Adding a cancer plan to any health insurance can provide some additional peace of mind.

Cancer is downright expensive. Whether it be chemotherapy, radiation treatments or oral medications, having a cancer plan can help pay for this out-of-pocket cost.

While you can use your cancer policy for treatment and medications, there is really no limit on what you can use your money for.

Cancer insurance policies offering lump sum payments can be used to travel, make home improvements, purchase durable medical equipment and literally, whatever you choose to spend it on.

There are people we speak with on both ends of the spectrum. Some tell us if they get diagnose with cancer, there’s no fighting it. Instead, they will plan the best trip they can possibly imagine and go out doing things they may have waited their entire life for.

On the other hand, there are folks that simply need help to cover the gaps of their normal health or Medicare insurance.

Whatever the reason may be for you, adding peace of mind for about $1/day seems reasonable, considering cancer cost.

What does a cancer insurance policy cover?

A cancer insurance policy is designed to provide a lump sum payment upon diagnosis of cancer.

You can use your payment from the cancer plan for treatment, travel, lodging, entertainment…you name it.

The beautiful thing about these types of plans is that there is no limitation on what you use the money for.

How much do cancer plans cost?

Cancer Plans cost will vary by age, location and some other criteria. In general, see example cancer plans cost below:

How much do cancer plans cost
How much do cancer plans cost

Is cancer insurance worth it?

Yes, cancer insurance is worth it, in our opinion. Coverage options for someone age 65 and $10,000 in coverage starts around $1/day.

Considering the cost of cancer, this is can literally be a life saver for you.

See the chart below that shows the likely hood of filing a claim, by insurance type.

You have more of a chance of filing a cancer claim than a home or auto claim 🤯

Chances of filing a claim
Chances of filing a claim

What are the chances of getting cancer?

Numbers say it’s a coin flip that someone we know will be diagnosed with cancer.

Varying factors like diet, where you live, genetics, etc., it’s estimated that 1 in every 2 men and 1 in every 3 women will be diagnosed with cancer.

What are the most common types of cancer?

Breast cancer, lung and bronchus cancer, prostate cancer, colon and rectum cancer, melanoma of the skin, bladder cancer, non-Hodgkin lymphoma, kidney and renal pelvis cancer, endometrial cancer, leukemia, pancreatic cancer, thyroid cancer, and liver cancer.

Prostate, lung, and colorectal cancers account for an estimated 43% of all cancers diagnosed in men in 2020. For women, the three most common cancers are breast, lung, and colorectal, and they will account for an estimated 50% of all new cancer diagnoses in women in 2020.

Cancer Statistics

  • Cancer is the 2nd most common cause of death.
  • Responsible for 1 out of every 4 deaths.
  • 1 out of 2 men
  • 1 out of 3 women.
  • 77% of all cancers are diagnosed ages 55 and older.
  • 40% likely hood you will file a claim

Cancer Cost

  • Prescription costs are not part of Medicare Advantage. Maximum amount of pocket.
  • Nearly all Medicare Advantage plans. Leave the client responsible for 20% of the cost of radiation and chemotherapy.
  • In 2019 Part D enrollees average out of pocket cost for 11 orally administered cancer drugs was $10,470.

What is the best cancer insurance plan?

Most all cancer plans work the same. You get diagnosed with cancer, there is a lump sum payout.

With that said, there are some differences:

  • Premium
  • Coverage Amounts offered
  • Types of cancer eligible for payout
  • Recurrence benefit

In general, we find that Aetna Cancer Plans seems to be most popular with our clients. They offer competitive premiums, reoccurrence benefits and are quick to prove payment upon diagnosis.

Get Help Comparing and Enrolling in a Cancer Plan

We make it simple to compare cancer insurance policies. Call us today, 866-633-4427 and one of our licensed agents will compare prices today.

Our staff is equipped to compare a variety of companies of cancer insurance plans in just minutes.

After deciding on a plan that best suits your needs, our agent will help secure coverage by applying to the insurance company you’ve chosen.

Buy a cancer plan today. The process is simple, minimal health underwriting is required and you can have peace in mind in minutes.

Meet Melissa MacCalla

Medicare is not simple and can be hard, frustrating, and downright confusing for most. I love when I get someone on the phone and I am given the opportunity to explain the difference in plans to them and have Medicare make sense. I enjoy talking to clients year after year, hearing about their families growing or them asking about mine.

-Melissa

Oh my gosh!! I was so confused about the Medicare Supplement process. I am turning 65 soon and am retired and have always had insurance thru my former employer. I didn’t know a thing about going on Medicare and was struggling to sort it all out.

A friend of mine recommended contacting Senior HealthCare Solutions, so I did. Melissa was FANTASTIC!! She was professional, responsive, caring and friendly. She explained the steps I needed to take, gathered my information, helped me choose good plans for MY specific needs and took care of my applications over the phone. 1-2-3, eesy-peesy and I was done!! And it didn’t cost me a DIME!!! WOW!!! I HIGHLY recommend Senior Healthcare Solutions for anyone who’s overwhelmed with making the right choices with Medicare Supplemental Insurance and Rx coverage. It’ll take a load off your mind!

Janice W.

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