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Cancer Insurance Policies

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Spotlight on: Cancer Insurance Essentials

Although health insurance will help pay for the medical expenses associated with fighting cancer, these plans often fall short of covering the true cost of cancer treatment.

Faced with a potential loss of income from time off work, special dietary needs and travel to treatment centers, many cancer patients may need more help than traditional health insurance offers.

Cancer insurance is designed with this in mind.

This specialized coverage can help with non-medical expenses incurred throughout cancer treatment, empowering a covered employee to focus on getting better.

While employees typically shoulder most of the premium cost for a voluntary cancer policy, employers can often pass along a considerable cost benefit by purchasing multiple policies from the same provider.

The Higginbotham Difference

No matter which benefit plans you’d like to provide your employees, our approach to finding solutions is more individual and less institutional.

We start with listening and end with solutions designed to meet your needs.

We’ll not only secure your coverage on day one; we provide year-round value to your HR function with our Day Two Services®.  With our Day Two Services® and in-house subject matter experts we have everything you need to manage your risks, limit your liability, administer your plans and control your costs.

Committed to both transparency and authenticity, we lead with values so value leads.

To learn more about how our values-based approach drives value for you and your employees, click here

Or visit our Insights page to learn more about voluntary cancer plans.

When you take care of your employees, they take care of your customers.

Grounded in your priorities and elevated in your opportunities, we make caring for your people our business.

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Employee Questions, Your Answers

You and your employees may have questions about cancer insurance. Here’s information to help you answer them.

What does cancer insurance cover?

Cancer coverage can help with expenses during treatment that aren’t covered by a standard health plan.

Cancer insurance helps pay these expenses by providing cash benefits for qualified cancer treatments. In addition to the non-medical expenses, most cancer plans have deductibles and other cost-sharing arrangements.

Some plans even cover annual screening tests that help with prevention and early diagnosis. Optional riders may be available to provide more financial protection during the initial diagnosis period and hospital stays.

After a covered diagnosis, cancer insurance typically pays benefits as a lump sum to help with qualifying costs.

Examples of qualifying expenses include:

  • Loss of income
  • Deductibles and copays
  • Travel to treatment centers
  • Routine living costs
  • Household upkeep
  • Special diets
  • Childcare

Who is eligible for coverage?

Though most cancer insurance plans have exclusions for people with certain pre-existing conditions, this coverage is typically available to everyone.

In the event you fall ill with a qualifying condition while your cancer policy is in force, you would be eligible for the full benefits outlined in your plan.

In most cases, people 18 and older can purchase as little as $5,000 in coverage and as much as $100,000 for a lump sum policy. Other cancer policies pay based on a schedule of benefits, which may include benefits for the initial diagnosis, radiation/chemotherapy, diagnostic testing, travel and lodging, daily hospital stays and much more.

That said, there are certain stipulations and complexities you should understand before shopping for plans.

Talk to a Higginbotham employee benefits specialist today to learn more about the options that make sense for your employees’ needs.

How much does a cancer policy cost?

The healthier you are and the less coverage you need, the lower the premium cost.

We understand each employer’s needs are different. That’s why take the time to fully understand your unique situation, tailoring coverage options to your circumstances.

We get to know you before we quote a price and are committed to getting you the coverage you need at a price that makes sense for your budget.

Not sure where to start? Talk to someone who wants to listen.

A great plan starts with a conversation. Let’s talk about what you need.

Talk to an Employee Benefits Specialist

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