Do Most Health Insurance Plans Cover Cancer? - Trusted Senior Specialists

If you are shopping for health insurance plans, you may want to know which ones cover cancer-related health care costs. While most insurance policies do cover cancer-related bills, the extent of the coverage may vary depending on the insurer and policy type. This is what you need to know about insurance companies covering cancer costs. 

Does Individual Insurance Cover Cancer Costs?

An individual health insurance policy may cover some of the costs related to diagnosing and treating cancer, but a single plan may not be enough to cover all of the costs. If you are enrolled in an Affordable Care Act compliant individual health plan, the amount of your costs that are covered will depend on the level of coverage your plan offers and the extent of the services you need. In many cases, your coverage will not pay for experimental treatments and there can be other restrictions as well.

Does Group Insurance Cover Cancer Costs?

Your group health policy will likely cover many expenses related to a cancer diagnosis, but you will need to check with your policy provider to determine the extent of their coverage. If your group coverage does not completely pay your cancer costs, you can invest in alternative insurance options. Work with an insurance agent to discover other means of paying cancer costs. 

Does Medicare Pay For Cancer Costs?

If you are enrolled in Medicare, your medical expenses relating to cancer will be partially paid for. As with any Medicare-approved services, you will likely be required to pay some portion of your health care costs in the form of deductibles, co-payments, and coinsurance. Supplemental coverage options like Medicare Supplement Insurance and Part D prescription drug coverage may make paying for cancer treatment easier.

Likewise, joining a Medicare Advantage Special Needs Plan could lower your costs even further. Chronic Condition Special Needs Plans (C-SNPs) are Medicare Advantage plans that only allow enrollment from people who have been diagnosed with specific chronic conditions. Cancer is one such condition, others include diabetes, dementia, and End-Stage Renal Disease. To determine whether you qualify for a C-SNP, get in touch with a qualified insurance professional. 

Find Cancer Coverage

If your insurance policy doesn’t provide full coverage for cancer costs, consider purchasing a cancer insurance policy. These policies can help you pay for cancer care, ensuring that you can get the treatment you need. The insurance professionals at Trusted Senior Specialists can help you find the cancer coverage you need, quickly. Contact us now to schedule a consultation.