Recent statistics underscore the fact that for residents of Colorado, cancer insurance is a wise investment. According to the American Cancer Society, an estimated 1,479,3950 individual cancer diagnosis cases were documented in 2009, 20,340 of which were residents of Colorado. What is even more alarming are the numbers for cancer treatment costs.
The cost of cancer treatment amounts to billions of dollars each year. According to the National Institute of Health, 219 billion dollars were spent for treating cancer cases in 2007, only 89 billion dollars of which covered direct medical costs. The bulk of cancer treatment costs stem from lost productivity and other indirect costs. Known as the hidden costs of cancer, these are usually out-of-pocket expenses such as transportation and gas charges, home care and childcare incidentals.
Cancer insurance can greatly benefit those with a high risk of getting the dreaded disease in Colorado. While most standard health insurance carriers can cover the medical costs of cancer treatment, they cannot be used to pay for indirect expenses. As a form of supplemental health insurance, a cancer insurance policy can reinforce the financial protection already provided by standard health insurance plans. Because the benefits are paid directly to the policy holder, he or she can freely determine how the money will be used.
The state of Colorado has some of the highest rates for cancer-related deaths. In Colorado, cancer insurance can protect families from the potentially heavy financial burden caused by cancer treatments. To have further peace of mind, it is advisable to sign up for a supplemental cancer insurance policy.
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