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Cancer Insurance

Why Does Someone Need Voluntary Cancer Insurance?

Incidents of new cancer diagnoses are steadily on the rise. In fact, more than 1.6 million Americans were expected to be diagnosed with cancer in 2015.1  Along with the increase in diagnoses there is also an increase in the of the cost of treatment, and with or without major medical insurance, the uncovered costs associated with treating cancer can have a devastating financial effect on an unprepared household.

According to The Kaiser Foundation, in 2015 the average annual worker contribution for family coverage health insurance was $4,955.2 While another study found that for the average privately insured American, the out-of-pocket cost per month is about $1,266 with approximately 41 percent of these costs coming from prescription drugs. While uncovered expenses can typically include things you’d normally expect like medical equipment and other non-prescription drugs, there are many other expenses that are generally not taken into consideration prior to being faced with them such as loss of income if a person is unable to work, travel to and from treatment, special diets, someone to help with the household chores if the patient lives alone and the monthly household bills.3

Unfortunately, bills don’t stop just because a person gets sick, and the worry over how to pay those bills can often interfere with recovery. Because the Voluntary Cancer Insurance benefit can be used to help with things like rent, car payments, gas, groceries and other essentials, the patient can focus on recovery rather than worry over mounting bills.



1American Cancer Society, “Cancer facts and figures 2015,” accessed Dec. 16 2015 - http://www.cancer.org/research/cancerfactsstatistics/cancerfactsfigures2015.

2The Kaiser Foundation, “2015 Employer Health Benefits Survey,” accessed Dec. 16, 2015 - http://kff.org/report-section/ehbs-2015-summary-of-findings.

3Clear Health Care Costs, “By the numbers: Out-of-pocket costs for cancer treatment,” accessed Dec. 16, 2015 - http://clearhealthcosts.com/blog/2011/08/by-the-numbers-out-of-pocket-costs-for-cancer-treatment.