If you’re a person facing a severe cancer problem and doesn’t have any type of health insurance to help for such expenses, there can be big financial challenges you have to deal with. As a matter of fact, people with cancer are 3 times more likely to go bankrupt than people without cancer.
Not having health insurance and being diagnosed with cancer can impose a lot of problems that are very stressful and emotionally difficult. You may experience feelings of anxiety and uncertainty which are very common, but you must remember that these should not keep you from getting treatments. There are a lot of ways to have health insurance and find the resources required. So what can be the risks associated with being uninsured and what are the things you must do obtain health insurance?
Cancer Treatments Are Highly Expensive
It can be a costly dilemma for people with cancer and no insurance to cover out-of-pocket expenses. For instance, in America, people pay $157 billion a year to fight cancer battles. Even if they are equipped with medical insurance, patients may still suffer a big financial burden. Nowadays, increasing medical copay and deductibles, loss or reduced income, private nursing costs, transportation to treatment locations, experimental treatments, and child care costs are just a few of the expenses people with cancer face.
When faced with towering bills, some patients with health insurance may even pause or give up treatment. According to one of the articles written in the Journal of Clinical Oncology, up to 16% of insured cancer patients forgo their treatment plans because they can’t afford the expenses and life-saving chemotherapies. Moreover, patients who have higher copayments were 42% more likely to hop treatment.
How Does Cancer Insurance Give You Financial Confidence?
Check your employment benefits because usually, cancer insurance is included in it that complements some of your insurance contributions by helping to recompense many out-of-pocket medical expenses and the loss of income when a worker’s stable paycheck is partly replaced with disability income insurance payment. Meanwhile, if you’re an employer, you may give your employees the opportunity to buy cancer insurance at affordable group rates.
Think More About Recovery Than Finances
Employees who have cancer insurance are aware that they don’t need to risk their financial position if they ever deal with cancer. In spite of other insurance, cancer insurance offers a lump sum payment for:
- Certain screenings such as colonoscopies and mammograms.
- Preliminary diagnosis of almost all cancers including breast cancer, ovarian cancer, leukaemia, kidney cancer, lung cancer, colon cancer, skin cancer, head and neck cancers, brain tumours, and others.
- Necessary procedures like surgery, reconstructive surgery, reproductive benefits, medical imaging, second surgical opinion.
- Treatments such as hormone therapy, chemotherapy, immunotherapy, experimental treatments, radiation therapy, and many more. Required care like seeing the doctor, extended care facility/skilled nursing care, home health care, government or charity hospital stay, hospice, hospital confinement, inpatient special nursing, outpatient, ambulatory surgical centre, and intensive care.
- Lodging/ Travel including ambulance, air ambulance, family member lodging, transportation/companion, outpatient lodging.
Main Ways to Get Health Insurance
Thru Your/Your Spouse’s Employer or Union. If you or your spouse has a work that provides health insurance, confirm with them if you’re entitled to obtain it or buy into it. If you have insurance previously but lost your job within the last 60 days, inquire if you’re allowed for COBRA. COBRA is a law that grants you to keep your insurance for 18 months, sometimes extended. But you have to pay the entire cost.
Thru Your School. Are you currently a part-time or full-time student? You may want to verify with your university or college to check if you are eligible for coverage through them.
Buying It On Your Own. You may purchase insurance either straightly through an insurance provider, or through your state’s Marketplace/Exchange. The difference in buying it directly through an insurance company, you will not be qualified for discounts based on your income. But if you purchase it through your state’s Marketplace/Exchange, your income will be considered, and you may obtain subsidy instantly which will lower the price of your premiums, and perhaps your deductibles and co-pays as well. Talk to an insurance broker if you are planning to buy your own insurance.
Thru Your State-Administered Health Insurance Program. Check with your state if they have a program that helps with medical costs for some people with limited income and resources. Most countries have this including the US which covers all children and adults who belong to a particular poverty level. Some also include personal care and nursing home care services.
Furthermore, you may contact local hospitals to check what types of free care or charity care programs they provide. Talk to a financial counsellor or social worker to describe your situation. Most laws necessitate that non-profit hospitals give some amount of charity care in exchange for tax-exempt status.