Then I discovered people who have cancer policies, many they have had for years, and continuing to pay for them after they turned 65 and enrolled in Medicare.
No doubt many cancer insurance policies are sold, and bought, based on fear. My personal feeling about cancer policies have changed over the years. At one time I felt they were a waste of money. That position is tempered a bit. I still don't think most people NEED a cancer plan but if you want one for ancillary coverage, go for it.
Surprisingly, the biggest health issue for retirees on Medicare is not cancer but Arthritis. Cancer ranks number three behind arthritis and heart disease.
Does Medicare Cover My Cancer Treatment?
Does Medicare cover my cancer screening and treatment? How about chemotherapy? How much will I have to pay for my cancer treatment? Does Medicare cover the rest?
From a purely financial perspective, most people with original Medicare and a supplement (Medigap) plan will not have to worry about how they will pay for the cost of cancer treatment. Most Medigap plans cover 100% of your hospital inpatient (Medicare Part A) expenses and the bulk of your outpatient care.
Original Medicare pays all of your hospital inpatient bills and 80% of your outpatient medical expenses. Your Medicare Part A hospital inpatient deductible is $1288 in 2016 and your Part B (outpatient) deductible is $166.
Most Medigap plans cover your Part A deductible. Medicare supplement plans F, G and N pay the remaining 20% of approved Part B claims.
Cancer fighting drugs may be covered under Medicare Part B or Part D.
I have clients that are currently being treated for cancer. Their out of pocket costs for chemotherapy is $0 in most cases thanks to original Medicare and a solid Medigap plan.
Georgia Cancer Resources
How can I get help paying my medical bills? How much does it cost to treat cancer?
Beyond the thought of dealing with your illness, financial concerns can cause as much stress as the disease. Fortunately there are resources and support groups.
This site has a list of cancer resources you may find helpful. You may also want to search additional information about cancer by following this cancer information link.
#DoesMedicareCoverCancer #CancerResources #CancerTreatment
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