Cancer accounts for over 8.2 million deaths worldwide. It is a growing issue of concern to both individuals and the government, with a projected increase in the number of cancer patients by 2030; cancer is a big piece of a problem so knowing Cancer Insurance- Pros and Cons are important.
There are over 200 types of cancer; any abnormal body cell development, overproduction, or malfunctioning of the body cell can be related to it. These cells are called cancer cells and can attack your healthy body tissues.
Most cancers are called by the name of the tissue where the abnormal cell resides. There are different causes of cancer development, while some remain unknown; although the environment triggers some, our genetic composition, or a combination of all these factors also lead to it. It can sometimes be challenging to identify the initiating factor. Here is a list of some significant probable causes.
Radiation
Genetics
Pathogens
Exposure to toxic substances
The cost of living with cancer
Cancer cost covers a significant part of the total spending of the US health care budget. Even with insurance, cancer patients often have to face an unimaginable high loss to cater to their treatments. This cost could include a high deductible,co-pay, co-insurance, the cost of seeking out-of-network care, or the cost of specific medications that might not be covered by the insurer.
We estimate cancer patients pay over $4 billion out of their pockets annually since 2014 for treatment, with an average cost running over $150,000 range per individual, coupled with the introduction of new technologies for cancer treatment. The price is continually increasing.
Cancer’s Money Drill
Vancouver B. W has never been able to recover from the shock of cancer, at least not financially. Diagnosed in her early 40s of the first stage of breast cancer after she noticed lumps on her breast during a community cancer awareness exercise, she had ignored it because of the cost her medical specialist had mentioned.
When she had later discovered she was eligible for a COBRA plan to cover for medical expenses, she still needed to scrub, save and borrow from family and friends to pay the premium
Finally, she had her the breast removed, but she had since fallen into severe debts that are still taking her time to pay.
It is one of the numerous stories that cancer patients all over the world have, although they may be told in ways different from Vancouver’s hence Cancer Insurance Pros and Cons.
Treatment for Cancer Patients
There has not been a ‘one size fit all’ kind of treatment for cancer, with different treatment plans available to manage various types of cancer issues in existence.
The kind of treatment a patient receives varies significantly between cases, patients choices, cost, geographical location and the treatment setting or availability of specialists in the area, all these would determine the type and amount of treatment (surgery, radiation, etc.) that a patient gets.
Surgery :
Surgery removes the abnormal body cell growth or as a direct diagnosis to ascertain the level of the spread of the cancer growth. It is possible to have at least a surgery as a combatant for cancer, although in most cases, operation alongside other treatments possibilities like chemotherapy treats cancer
Chemotherapy:
Chemotherapy can treat cancer using an anti-cancer drug regimen. These drugs work as poison to inhibit mitosis (cell division) and stop the spread of cell development. Chemotherapy can be painful; it also helps to prolong the life of the patient or reduce the symptoms. Also, chemotherapy can work as a curative for specific stages of cancer.
Radiation:
This treatment makes use of high energy particles to destroy the abnormal cell growth; the damaged cancer cell would stop cell division, die, and leave the body.
Immunotherapy:
It is a part of the pharmacological therapy that provides treatment to cancer patients; this treatment also offers natural body booster defense to help the patient’s body fight the cancer growth, it works by stopping or slowing down the growth of the developing cancer cells.
Targeted Therapy :
This treatment procedure targets the cancer growth cell and tissue and uses drugs that affect cancer growth from its genetic makeup, stopping it from developing or attacking other cells.
Hormone Therapy:
This treatment treats cancer that uses hormones to grow, such as breast or prostate. Hormone therapy also involves taking medication that inhibits the hormones from getting to the receptors necessary for the growth of the cancer cell in that region.
Stem cell Transplant:
This treatment procedure replaces stem cells that would generate blood in place of the stem cells of the cancer patients that have been destroyed by different treatment methods they had undergone.
Why is cancer insurance important?
Illnesses that are life-threatening like cancer can also threaten the financial power of a person. It is essential to also get cancer insurance as a supplement to your standard health insurance; this would provide backup for the total expenses necessary in managing cancer.
You can get insurance from either your employer like Vancouver or through the Government public health insurance program options; Medicare or Medicaid. There are still pros and cons to these Cancer Insurance companies.
What does Cancer Insurance cover
Depending on the coverage, the insurers can offer benefits that would cover both medical and non-medical cost that is involved in the treatment of a cancer patient. These policies also vary in eligibility and differ from state to state.
The following type of cancer conditions is the most probable and frequently covered cancer types by insurers.
Breast Cancer
Lung Cancer
Prostate Cancer
Uterine Cancer
Ovarian Cancer
Liver Cancer
Kidney Cancer
Bladder Cancer
Thyroid Cancer
Leukemia
Colon/Colo-rectal. etc
The Pros of Having Cancer Insurance
- Cancer insurance would cover both Medical and non-medical costs.
- Your policy provider might avail you of the opportunity to connect with cancer support groups and networks.
- There might be other financial support for those pursuing healthy living programs.
- Having cancer insurance would help you to be able to access relevant information provided by your provider to maintain healthy living.
- Some policyholders would provide access to wellness tests that might help you make an early diagnosis and manage cancer.
- Most policyholders would provide non-medical costs that cover financial aid like transportation, feeding, and other bills.
As a general rule, the benefits of having cancer insurance are to curb the effect of cancer and provide financial protection to manage the situation or in the best-case scenario to also encourage its prevention as a whole.
Limitation of cancer Insurance
Even after learning the Pros of Cancer Insurance, there are Cons too;
● Most insurers do not mostly cover Non-melanoma skin cancers.
● Some cancer insurers would not cover for the cost associated with non-cancer illness; this involves a disease that is directly or indirectly induced by cancer growth.
● Cancer insurance might not cover for cost accrued due to out-patient treatment. It may also include chemotherapy or radiation therapy given to patients outside the hospital.
● Certain pre-existing conditions have made many cancer patients ineligible for cancer insurance. Patients who have certain forms of cancer, Aids, or HIV may not be able to get the benefit for the cost incurred for the first 12 months of the coverage. Although pre-existing conditions might differ from insurer to insurer, cancer patients should do well to check with their insurer first to see how it affects them.
