4 Ways to Pay for Cancer Treatment

Medical indemnity insurance

The phrase, “You have cancer” is enough to send shockwaves through even the most stoic of persons. It is a full disruption of your life that can send you reeling. You are not alone. According to the American Cancer Society, more than 13 million Americans were diagnosed with cancer during 2014-2015.

Still, you may have tons of questions that need to be answered. What will I do? How will I pay for my treatment? What treatments do I need? Thankfully, there are many resources to help you pay for your cancer treatment, even on a shoestring budget. Here are four ways to finance your cancer treatment, and prevent yourself and your loved ones from going into debt.

Private Health Insurance Options

There are many types of private and affordable healthcare options that you can select from. The healthcare law called Affordable Care Act is intended to make private health insurance available to those who need it the most. The law also guarantees that most insurance plans cover the costs of health care that cancer patients need.

Grants and Loans

There are numerous foundations in place to help cancer patients pay for their treatments. Log onto Cancer.net and browse through their financial assistance page to find more resources on cancer treatment finance options. Two other useful sites to help you include CancerCare.com and the American Cancer Society’s webpage.

Government Plans

The government can help you pay for your cancer treatment through one of their funded health plans. Some of these options include Medicare, Medicaid, veteran and military benefits, state-sponsored children’s health insurance programs, and screening and treatment options for low-income women with breast or cervical cancer.

Medicare is offered to Americans who are 65 or older and have been permanently disabled and are getting benefits from Social Security after a two-year waiting period. The plan has four different parts to it. Medicaid is available to low-income families with kids.

If you have ever been in the military, you may be able to qualify for Veterans Administration health benefits. The same may be applied to your spouse or children.

Options if You Do Not Have Insurance

The health insurance law requires most people to have insurance coverage. If you don’t, there are some things that you need to take into consideration when you are shopping around for coverage. Some of these include:

  • The deductible for treatment plans and doctors visits
  • Insurance options at work
  • Options for young adults or students
  • Through your parent’s health coverage
  • Individual insurance

Cancer is more than a disease. It can affect our emotions, financial situation, and more. The aforementioned options are some ways that you can help pay for treatment and ensure that you are taken care of economically.

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