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Cancer Treatments are Looking Up – Along with Costs

Cancer Treatment Costs

The quality of cancer care is getting better and innovative research and treatments are being adopted all the time. This is great news for the millions of people living with the disease and shows promise for a possible future without cancer.

Cancer treatment infographic.

However, these advancements are also driving up the costs required to get necessary care. Even when people have major medical insurance, the CDC says, "out-of-pocket costs of cancer care often pose a significant financial burden for them and their families that continues long after initial treatment is completed."4

Why are insured Americans saddled with these expenses? This is because most major medical insurance pays only a portion of bills, leaving insureds to pay the remainder of cancer treatment costs out of pocket or from their savings.

There are options to help, including a growing market for cancer insurance, which is designed to pick up where major medical insurance leaves off. It helps people to fill financial gaps and get the care they need without wiping out their savings.

Cancer insurance serves as an add-on to major medical insurance and typically covers hospital stays, nursing (in a care facility or at home), surgery, anesthesia, radiation and chemotherapy, blood/plasma treatments and a variety of other benefits.

Unlike major medical insurance, cash benefits from cancer insurance are paid directly to the insured, not to doctors or hospitals. The cash can be used for deductibles, treatment or travel. It can even go toward monthly bills like mortgage or rent, utilities, childcare or groceries. This is especially helpful for those undergoing cancer treatments and are unable to work.

Being able to cover these financial requirements helps cancer patients to focus on what matters most—getting the treatment they need to win the fight against cancer.

Survival Rates on the Rise

Though researchers are racing to reverse rising cancer rates, there is a rising trend that is good news! Cancer survival rates are going up thanks to efforts in early detection, new treatments and access to care. As of early 2019, there were almost 20 million cancer survivors in the U.S. and the number is projected to exceed 22 million by 2030.3

Allstate Benefits & American Cancer Society

Allstate Benefits has joined forces with the American Cancer Society to offer tools, resources and encouragement to everyone whose life has been affected by cancer. Whether you are a person living with cancer, a loved one, caregiver or cancer survivor, the American Cancer Society offers resources to help.

Allstate Benefits offers coverage for cancer and 29 specified diseases, empowering customers to make treatment decisions without putting their finances at risk. As encouragement to our customers, we also send a personal letter from our CEO to customers who are diagnosed with cancer, along with a copy of Chicken Soup for the Soul®: The Cancer Book.

Learn more about cancer insurance from Allstate Benefits:

Disclaimers and notes

1Centers for Disease Control & Prevention, Cancer Incidence Projections in the United States Between 2015 and 2050 (www.cdc.gov/pcd/issues/2021/21_0006.htm)

2World Health Organization, Cancer Today (https://gco.iarc.fr)

3U.S Dept. of Health & Human Services, National Cancer Institute (www.cancer.gov/about-cancer/understanding/statistics)

4American Cancer Society, Cancer Treatment & Survivorship Facts & Figures 2019-2021

5U.S Dept. of Health & Human Services, National Cancer Institute (Cancer of Any Site — Cancer Stat Facts)

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