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Why Voluntary Cancer Insurance is a Critical Part of Any Benefits Portfolio

brokers discussing supplemental cancer insurance

Supplemental Cancer Insurance plans from Guardian can be a valuable complement to your clients' medical and disability coverage, and make a real difference for their employees' financial security and confidence. If any of your clients offer or are considering medical plans where employees may be asked to take on greater responsibilities for costs, also offering cancer insurance can be an affordable way to provide additional funds to help cover out-of pocket expenses.

Today's employees are looking to their employers for benefits that offer some much needed protection for both their health and financial well-being. At the same time, many employers are looking for ways to balance the cost of complying with the new laws mandated by the Affordable Care Act. You can help employers manage their budgets and generate goodwill by educating them on the value voluntary cancer insurance can add to their benefit package.

A cancer diagnosis could mean serious financial hardship

  • 1.5 million Americans will declare bankruptcy this year. 60% are due to medical bills.1
  • 78% had health insurance but were impacted by deductibles, copayments and uncovered expenses and living expenses.2
  • Cancer patients are three times as likely to go bankrupt than people without it.3

People diagnosed with cancer are often confronted with significant financial hardship as they recover. Medical expenses continue to outpace inflation, and as your clients face greater pressure to reduce their health plan costs, their employees are responsible for more costs out of their own pockets, such as:

  • Medical copays and deductibles
  • Out-of-network care
  • Experimental treatment
  • Private nursing costs
  • Travel to and from medical center

Non-medical expenses like these can present a challenge too on a decreased income:

  • Mortgage/rent
  • Utilities
  • Household debtt
  • Groceries
  • Childcare

Voluntary cancer insurance is a growing solution

Many businesses today are finding that voluntary cancer insurance provides their employees an affordable option, especially when moving to higher deductible medical plans. Cancer insurance rates are surprisingly affordable.  

It can complement your client's medical and disability income plans to provide an additional benefit when a person faces cancer. While disability insurance can help replace up to 60-70% of a person’s income, a cash payment from cancer insurance can help provide additional funds. And that money can be used in any way the insured sees fit. It can help pay for medical expenses not covered by insurance… or for non-medical expenses such as travel costs, child care expenses, even compensation for a spouse or family member who takes time off work to help out.

Without supplemental cancer insurance, most people may not be ready for the financial burden that can adversely impact their lifestyle, as well as their financial security.

Why choose Guardian Cancer Insurance?

Every company is different, which is why you can offer you clients a choice of three cancer insurance plans: Value, Advantage, and Premier. This allows you to advise your clients on a plan that works best with other employee benefits plans that are part of their offering.

The chart below outlines the services and procedures that Guardian pays a benefit for under each of our plans. Benefit payments go directly to the employee, on top of any other coverage, and can be used however the insured person chooses.

Service or Procedure  Value  Advantage  Premier 
Air Ambulance
Alternative Care No Benefit No Benefit
Ambulance
Anesthesia
Anti-Nausea Medication No Benefit
Attending Doctor
Blood/Plasma/Platelets
Bone Marrow & Stem Cells No Benefit
Experimental Treatment No Benefit
Extended Care Facility/ Skilled Nursing Care
Government or Charity Hospital No Benefit
Home Health Care No Benefit
Hormone Therapy
Hospice
Hospital Confinement
Immunotherapy
Inpatient Special Nursing No Benefit
Intensive Care Unit Confinement
Medical Imaging No Benefit
Outpatient and Family Member Lodging No Benefit
Outpatient or Ambulatory Surgical Center No Benefit
Physical or Speech Therapy No Benefit
Prosthetic Devices
Radiation Therapy or Chemotherapy
Reconstructive Surgery No Benefit
Reproductive Benefits No Benefit No Benefit
Second Surgical Opinion
Skin Cancer
Surgical Benefits
Transportation / Companion Transportation No Benefit
Optional Features 
Initial Diagnosis Benefit No Benefit
Cancer Screening

We make it easy for you and your clients

You can feel good recommending Guardian to your clients. Our supplemental cancer insurance plans come with enrollment and customer support you can count on. From helping your client's employees understand the need for group cancer insurance, to online enrollment, to managing claims -- we can help enhance your client's benefits package while lightening their administrative workload.

Overview

Role of Supplemental Cancer Insurance
Brokers and Cancer Insurance Plans
Clients and Group Cancer Insurance

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