What is cancer insurance?
Cancer insurance pays you a cash benefit if you’re diagnosed with cancer. You can use the money however you need.
It isn’t a replacement for your medical coverage. It works alongside Medicare, a Medicare Supplement or a Medicare Advantage plan to help with the costs that come with treatment.
Why people add it
Even with good coverage, a cancer diagnosis can come with costs your health plan doesn’t pay, such as:
- Deductibles, copays and coinsurance
- Travel, gas and lodging for treatment
- Everyday bills while you focus on getting better
- Help at home or a family member taking time off
Because the benefit is paid to you, not your doctor, you decide where it goes.
Things to know before you buy
- How benefits are paid: some plans pay one lump sum when you’re diagnosed, and others pay for specific treatments.
- Waiting periods: most plans have a waiting period before coverage starts.
- Health questions: you’ll usually answer health questions to qualify, and a past cancer diagnosis may affect eligibility.
- Cost: premiums depend on your age, the benefit amount and where you live.
Common questions
Does Medicare cover cancer treatment?
Medicare covers many cancer treatments, but you can still owe deductibles, copays and coinsurance, plus costs like travel that Medicare doesn’t pay. Cancer insurance can help with those.
If I have a Medicare Advantage plan, do I need cancer insurance?
Not necessarily, but it can help. Medicare Advantage plans have copays and a yearly out-of-pocket maximum, and a cash benefit can help cover them. We’ll look at your plan with you.
Other coverage we can help with
Questions about cancer insurance?
Talk with a licensed agent. It’s free, and there’s no pressure.
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Cancer insurance is a limited-benefit policy. It is not health insurance and does not replace Medicare or other medical coverage. Benefits, limitations, exclusions and availability vary by plan, insurance company and state.