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Cancer? No Insurance? Cancer Treatment Without Insurance is an Expensive Proposition

doctor with patient and daughter discussing paying for cancer with no insurance

For a person facing cancer, no insurance to help pay for expenses can present financial challenges as they recover. In fact, cancer patients are 3 times more likely to go bankrupt than people without cancer.1

Cancer treatment without insurance can be extremely expensive

For anyone with cancer, no insurance to cover out-of-pocket expenses can be an expensive dilemma. Americans pay $157 billion a year fighting cancer.2 Even with medical insurance, patients may be left with a huge financial burden. Today’s increasing medical copays and deductibles, private nursing costs, a reduction or loss of income, transportation to treatment centers, experimental treatments, and child care expenses are just some of the expenses people with cancer face.

Faced with mounting debt, some patients with health insurance may even delay or forgo treatment.

  • According to an article published in the Journal of Clinical Oncology, up to 16% of insured cancer patients quit their treatment plans because they can’t afford the costs of expensive but life-saving oral chemotherapy.3
  • In fact, patients with higher copayments were 42% more likely to skip treatment.3

Cancer insurance provides affordable financial confidence

Cancer insurance is an employee benefit that complements your other insurance offerings by helping to pay many out-of-pocket medical expenses, and the income lost when a worker’s steady paycheck is partially replaced with a disability income insurance payment. As an employer, you can give your employees the opportunity to purchase cancer insurance at affordable group rates.

Recovery – and not finances – can be first on their minds

Cancer insurance helps employees know that they will not have to jeopardize their financial position if they are ever faced with cancer. Regardless of other insurance, cancer insurance provides a lump sum payment for:

  • Screenings including colonoscopies and mammograms.
  • Initial diagnosis of most cancers including ovarian cancer, breast cancer, colon cancer, leukemia, kidney cancer, lung cancer, skin cancer, head and neck cancers, brain tumors, and others.
  • Procedures including medical imaging, reproductive benefits, reconstructive surgery, surgery, second surgical opinion.
  • Treatments includes chemotherapy, hormone therapy, immunotherapy, radiation therapy, experimental treatments, and more.
  • Care such as attending doctor, extended care facility/skilled nursing care, government or charity hospital stay, home health care, hospice, hospital confinement, inpatient special nursing, intensive care, outpatient or ambulatory surgical center.
  • Travel/Lodging such as air ambulance, ambulance, family member lodging, outpatient lodging, and transportation/companion transportation.

See how Guardian's Cancer Insurance could help an employee avoid serious financial hardship

Let's look into the future and imagine for a minute that one of your employees has kidney cancer. We'll call him George. Fortunately, George was proactive and purchased an affordable group cancer insurance policy through his workplace. 

Over the course of two months, George faced many expenses, but his cancer insurance policy was there for him at each turn. From his initial diagnosis, to his chemotherapy, surgery and hospital stay, George was covered. He even received a lump-sum payment to help cover transportation for him and his wife when they traveled to Chicago for treatment.

 

 

Event Payment Received
Kidney Cancer Diagnosis

$2,500

Kidney Nephrectomy (surgery)

$2,970

Hospital Confinement (7 days x $300)

$2,100

Attending Doctor Visits (7 days x $25)

$175

MRI

$100

4 Weeks of Chemotherapy (4 x $300)

$1,200

4 Weeks of Radiation Therapy (4 x $400)

$1,600

Transportation (12 trips at $.50/mile, 120 miles round trip, 2 travelers)

$1,440

2 Months of Anti-Nausea Medication (2 x $150)

$300

Total Benefits Paid 

$12,238

This is a hypothetical example. A person’s eligibility for benefits is determined on a case-by case basis, taking into consideration the factual circumstances presented as well as the terms and conditions of his/her policy.

Cancer insurance is an affordable solution

Most people are simply not prepared for the financial burden that can adversely impact their lifestyle, and their financial security. For people with cancer, no insurance can cause significant financial hardship as they fight to recover. And as many employees increasingly take on more financial responsibility for their health insurance such as higher deductibles and copays, cancer insurance provides your employees with an affordable option.

We’ll help you introduce the plan and get your employees signed up

Adding cancer insurance to your benefits package is remarkably easy. From helping your employees understand the need for group cancer insurance, to online enrollment, to managing claims -- we can help you enhance your benefits package with the best group cancer insurance plan for your situation – all while lightening the administrative workload for your company. We drive increased awareness of benefits, and help employees understand their value, while making enrollment as easy as possible. 

Guardian tools are available online, on-paper, on-site, on-phone for all size groups, making it easier for brokers to implement, for employers to administer, and for employees to participate.

Learn more about Guardian's Group Cancer Insurance.

Overview

Why Offer Guardian Cancer Insurance?
What is Voluntary Cancer Insurance?
What Does a Cancer Insurance Policy Cover?
Cancer? No Insurance? It Gets Costly
Cancer Insurance Rates Explained

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