Is cancer insurance a waste of money for people who already have health insurance through their employer?

Question

Is cancer insurance a waste of money for people who already have health insurance through their employer?

Answer 1

yes

Answer 2

You already have some good advice here.

Cancer insurance can be a wise purchase and also a bad purchase. If you have a family history of cancer or if you are a smoker cancer insurance might be a good idea.

The American cancer society says 1 in 2 men and 1 in 3 women will get cancer, Cancer is responsible for 1 out of every 4 deaths.

The common cancer plan is designed to pay indemnity benefits based on the treatment you are receiving. These benefits are meant to help with your loss of income while going through treatment for cancer. Some plans even provide $10,000 per year for experimental treatment (something your health insurance won't cover)

Benefits for Travel and lodging for out of town treatment.

$10,000 for Chemotherapy and so forth

Many health policies limit the prescription coverage to $5,000 per year and one drug for pancreatic cancer cost $4,000 per month. (everyone should check their policy limits)

Speaking from personal experience when my mother was  diagnosed with terminal Cancer, she could have used the insurance. Her and my father went out of the country for experimental treatment and it cost them close to $8,000.

My father lost a lot of time at work and had to hire a caregiver all of these things are not covered by health insurance.

Most cancer plans start around $20 per month and in the end you will have to weigh the cost vs the benefit and make your own decision. But for someone to give you a quick yes shows they have very little knowledge of the subject.

Answer 3

Depends on  your plan. My insurance allows me a total of $1million in claims. Having a serious illness like cancer would suck up all that money super quickly so additional insurance would be worth it.

Answer 4

For a relatively low fee I added catastrophic medical coverage  to handle the diseases that are extremely expensive to treat.  I could not see limiting myself to just cancer.

Answer 5

No, not really, it pays you money to live on, like disability payments.  It usually does not pay the medical bills as you have health insurance for that.  It helps pay for your living expenses if you are unable to work.

Answer 6

That depends on the coverage you have with your health insurance. There may be a cap on cancer coverage or a yearly maximum amount that cancer treatment could exceed. I always opted for it when I was offered it at my previous employer because I figure, extra insurance can't hurt. Also cancer insurance usually covers time off that is not covered by health insurance.

Answer 7

Yes.

Answer 8

Yes, it's just like buying insurance, in case you get hit by a blue car.

Answer 9

My personal thought............yes