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Supplemental Insurance Helps Cancer Patients
Content Provided By Conseco Insurance Company
Conseco Insurance Company (ARA) - A cancer diagnosis can be the beginning of a long journey filled with stress, emotion, and often physical pain. Families struggle not only with the trauma of what is happening to their beloved, but also with the financial burden that can accompany such an illness.
In most cases, major medical insurance will cover only a portion of treatment costs. According to an Oct. 13 article in USA Today, one in eight people with advanced cancer turn down recommended care because of the associated costs. Many major medical plans now require the insured to pay 20 percent of the costs of their care. When one is prescribed cancer treatment drugs that can cost thousands of dollars per month, paying even 20 percent of the cost can be a major burden.
The USA Today article cites a survey of nearly 1,000 survivors and their families that found that one in four cancer patients or their families said they used up all or most of their savings to pay for treatment and one in 10 respondents said they were unable to pay for basic necessities such as food, heat and housing.
Supplemental insurance can help eliminate the need to choose between recommended cancer care and financial stability.
"We should never have a situation in which someone who works and has health insurance must make treatment choices based on cost," says Steve Stecher, president of Conseco Insurance Company, a life and health insurance company, which sells supplemental medical insurance policies. "There are many options available to people who want to protect themselves from the financial hardship that can come with a cancer diagnosis."
Several insurance companies offer cancer-specific supplemental policies. Some of these cancer products pay benefits not only at the time of a diagnosis, but also cover preventive care and screenings. Benefits are paid directly to the policy owner, or someone he or she designates, instead of to a doctor or medical facility. This allows the benefit to be used in whatever way it is needed without hassle. In many cases these policies can help patients lessen the impact of co-insurance payments.
Other financial needs of a more practical nature can also be covered by these policies. Claimants may opt to "pay forward" their monthly bills, pay for housecleaning or pet-sitting services during their recovery, or even pay for a family vacation. Once the benefit triggers in the policy are met, the use of benefit payments remains fully at the discretion of the policy owner.
Some policies have a return-of-premium rider that allows all premiums paid, less any claims paid out, to be returned to the policy owner after a specified period. Under these policies, if no cancer occurs, the policy owner gets back all premiums paid.
To learn more about supplemental policies, visit www.conseco.com.
Policies and riders are subject to state availability. These policies have limitations and exclusions. For costs and complete details of coverage, contact an agent.
Courtesy of ARAcontent
In most cases, major medical insurance will cover only a portion of treatment costs. According to an Oct. 13 article in USA Today, one in eight people with advanced cancer turn down recommended care because of the associated costs. Many major medical plans now require the insured to pay 20 percent of the costs of their care. When one is prescribed cancer treatment drugs that can cost thousands of dollars per month, paying even 20 percent of the cost can be a major burden.
The USA Today article cites a survey of nearly 1,000 survivors and their families that found that one in four cancer patients or their families said they used up all or most of their savings to pay for treatment and one in 10 respondents said they were unable to pay for basic necessities such as food, heat and housing.
Supplemental insurance can help eliminate the need to choose between recommended cancer care and financial stability.
"We should never have a situation in which someone who works and has health insurance must make treatment choices based on cost," says Steve Stecher, president of Conseco Insurance Company, a life and health insurance company, which sells supplemental medical insurance policies. "There are many options available to people who want to protect themselves from the financial hardship that can come with a cancer diagnosis."
Several insurance companies offer cancer-specific supplemental policies. Some of these cancer products pay benefits not only at the time of a diagnosis, but also cover preventive care and screenings. Benefits are paid directly to the policy owner, or someone he or she designates, instead of to a doctor or medical facility. This allows the benefit to be used in whatever way it is needed without hassle. In many cases these policies can help patients lessen the impact of co-insurance payments.
Other financial needs of a more practical nature can also be covered by these policies. Claimants may opt to "pay forward" their monthly bills, pay for housecleaning or pet-sitting services during their recovery, or even pay for a family vacation. Once the benefit triggers in the policy are met, the use of benefit payments remains fully at the discretion of the policy owner.
Some policies have a return-of-premium rider that allows all premiums paid, less any claims paid out, to be returned to the policy owner after a specified period. Under these policies, if no cancer occurs, the policy owner gets back all premiums paid.
To learn more about supplemental policies, visit www.conseco.com.
Policies and riders are subject to state availability. These policies have limitations and exclusions. For costs and complete details of coverage, contact an agent.
Courtesy of ARAcontent
