Maybe you have considered purchasing a cancer insurance policy, but don’t know if it’s right for you. Though treatment of the disease has improved over the years, cancer continues to be the second most common cause of death in the U.S. behind heart disease.
There are an estimated 1.6 million new cancer diagnoses expected this year. Anyone, regardless of age, gender or other factors, can be diagnosed with cancer at any time. Older individuals are at a greater risk with 86 percent of all cancers diagnosed are in people age 50 or older.
So, if you’re thinking about coverage, it’s understandable.
The financial impact of cancer is just as daunting as the risks. The Agency for Healthcare Research and Quality estimates that the direct medical costs for cancer in the U.S. in 2013 were $74.8 billion. Of that, 44 percent was for hospital outpatient or office-based provider visits, and 40 percent was for inpatient hospital stays.
For many Americans, a lack of health insurance is a critical barrier that prevents individuals from receiving optimal care. Uninsured patients and those from many ethnic minority groups remain substantially more likely to be diagnosed with cancer at a later stage. Treatment in that later stage is often more extensive, more costly and less successful. Furthermore, insured patients may still face financial difficulties due to high premiums and costly related non-medical expenses.
Additional coverage and other factors such as family history and the lack of a financial safety net are important things to consider when debating about whether or not to purchase a cancer insurance policy.
For survivors of the deadly disease, early diagnoses of certain cancers and advancements in treatment may have helped. The five-year survival rate for all cancers diagnosed from 2005-2011 was 69 percent. Optimal treatment and prevention strategies can make all the difference. Help protect yourself against the disease by getting regular check ups and screenings and applying for insurance coverage.
For more information, visit our website or call our experienced staff at (336) 226-8595 for a free quote.