The American Cancer Society reports that in 2017,
1.7 million new cancer cases were diagnosed. The costs of treatment are incredibly expensive, with patients paying nearly $4 billion in out-of-pocket expenses in 2014. In that same year, nearly $88 billion was spent on
cancer-related health care. Clearly, cancer not only takes its toll on the health of its sufferers, but it also takes a great toll on their finances, even if they have
health insurance.
In addition to the financial drain, there’s also an emotional drain on the patients and their families as well. The National Cancer Institute claims the disease can make feelings seem
more intense, and when you combine the intensity of feeling with the expense of treatment, it is easy to become overwhelmed.
However, it can also be easy to think ahead when you are diagnosed with cancer. With some thorough planning and a willingness to consider all alternatives, you can probably cover the costs of your cancer treatment. Here are three ways how.
Examine Your Health Insurance Policy Thoroughly
Kimberly Lankford at Kiplinger.com
states that once you are diagnosed, you should immediately check your health insurance policy to find out if you’re covered for all the tests and treatments you’ll need. Your health insurer might also connect you with a case manager--most often a registered nurse--to walk you through the process and help determine ways to cover expenses.
Obviously, costs will vary depending on whether you use a treatment provider that’s within or outside the health insurer’s network. Regardless, you and your doctors can plan the treatments so that you can get the most coverage out of your insurance policy without spending a lot of money out of pocket.
Explore Community Resources on How to Cover the Costs of Cancer
There are a number of community organizations that can provide
financial assistance with cancer treatment and help you navigate how to cover the costs of cancer. You can also check with local churches, synagogues, mosques, and other religious organizations for assistance and guidance. Some hospitals also have social workers who can help you find assistance.
There are even facilities in some states designated as
Hill-Burton sites where cancer treatment is provided free of charge or at a reduced cost. Some of these facilities are full hospitals, while others offer only outpatient care, and some are nursing homes. However, this program has strict financial guidelines, and you will need to apply for the coverage at the facility.
Research Medicare, Medicaid, and Other Payment Resources
If the disease causes you to need long-term care, you’ll
need to determine how to best pay for it. While Medicare can pay for a large number of cancer treatment services, you must be 65 or older to receive the benefit or receive
Social Security Disability Insurance.
If you are a veteran, your VA benefits should cover your treatment and care. You might qualify for Medicaid if you have no other resources to pay. But because it is a state-operated program, each state has different eligibility rules. Also, any help you accept help from a community-based or religious organization might prevent you from getting help from Medicare.
Some people set aside enough money for cancer treatments (or another severe emergency expense) through
self-insurance. However, if cancer treatment is long, it will be costly, and you could spend all your self-insurance funds and still not be finished with treatment. In addition, self-insurance might run up against some remaining Affordable Care Act rules.
Overall, the best way to pay for your cancer treatment is a combination of several of them: work with your physicians, your insurance company, and all community resources -- including social workers and financial counselors with hospitals and care providers -- to make sure that you can meet the financial demands of getting yourself better.
If you are like many people and you would like to add nutritional support to your diet to help you feel better through conventional therapies or recovery, it is recommended that you consult with a health professional that is both familiar with your condition and the therapies you want to use. One such group, the
Oncology Association of Naturopathic Physicians, is a professional association of naturopathic physicians who offer supportive healthcare for people who have been diagnosed with cancer.
