Cancer Insurance
Supplemental coverage that pays cash benefits if you're diagnosed with cancer.
What cancer insurance does
Cancer insurance is a supplemental policy that pays you a cash benefit if you're diagnosed with cancer. Like hospital indemnity, it pays you directly - not your doctors or hospital. You can use the money for anything: treatment costs, bills, travel, or daily expenses.
What Medicare covers vs. what you pay
Medicare covers cancer treatment - chemotherapy, radiation, surgery, and more. But you're still responsible for cost-sharing:
That 20% coinsurance on cancer treatment can add up quickly. A single chemotherapy session can cost thousands, meaning your 20% share could be hundreds per treatment.
How cancer insurance helps
Many policies pay a one-time benefit when you're first diagnosed - often $5,000 to $50,000 depending on your coverage level.
Some policies also pay per treatment - for example, a set amount per chemotherapy session or radiation treatment.
Pay medical bills, cover travel to treatment centers, replace lost income, or handle everyday expenses while you focus on recovery.
Important considerations
Pre-existing conditions: If you've had cancer before, most policies won't cover a recurrence or related cancers. Some have waiting periods before coverage begins.
Some policies pay less for certain types (like skin cancer) or have different benefit levels for different stages.
Medigap plans cover your Medicare cost-sharing for any condition, not just cancer. If you qualify, that might provide broader protection.
Related topics
Questions about supplemental coverage?
Our licensed agents can help you understand your options.
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