Who out there has cancer insurance? (medical, plan, hospital, supplement)

[Tracysherm]

I've had this policy for years, and when I tell people about it, I'm surprised by how many never heard you could get cancer insurance, and really cheap.

These types of policies basically pay you a lump sum upon the diagnosis of cancer, and you can use the money however you wish. It's mostly to help cover the expenses of having cancer that health insurance doesn't cover, but you are not limited to how you spend it. My "joke" is that if I get diagnosed with a serious enough cancer that might not be treatable, I'll just use the money for a trip around the world.

I think companies have different requirements and benefits, but in general you are excluded if you have previously been diagnosed with any form of cancer, even if it is gone. I know the rates are higher depending on where you live, your age, and whether you do or ever have smoked. My policy does not pay out upon the diagnosis of a skin cancer, but only internal forms of cancer. I don't know if they are all like that.

I just pay this small premium every year, and know that in case I ever get the bad news, at least I'll also get a little bit of good news. My family tree is riddled with cancer, so it makes sense for me.

Anyone else out there have cancer insurance?

[Hopes]

I'm fully aware cancer insurance exists. It was offered to us through my husband's previous employer. We declined it.

Why you might ask?

A second health insurance policy degrades the first health policy in policies that have coordinated benefits clauses.

It's not going to save you any money to have a second policy.

You might be able to spend it on whatever you want, but your health insurance is going to lower what it was pays accordingly.

As a result, you're not getting the windfall you think you're getting with cancer insurance because you'll end up with higher medical bills to pay.

Most people are unaware that additional health insurance policies don't necessarily mean better health insurance coverage.

A second policy weakens the coverage of the first policy with coordinated benefits clauses.

But the cancer insurance company isn't going disclose that tidbit. It's up to consumers to be informed.

[Tracysherm]

I thik this is different, because it is a lump sum that somes to me, not to a provider. My health insurance is totally independent of this, and the two insurers don't even know about each other, nor do they need to.

If I get cancer, my health insurance pays for my treatment, according to what is outlined in my Plan. If I then get $25,000 from the cancer insurer, this doesn't affect my health coverage at all. It's not like my health coverage is now going to pay my providers less because I got money from the cancer insurer. There are no "coordinated benefits" clauses. I've read both policies closely.

I think you are talking about supplemental insurance for cancer. This is different, just a pay-out upon diagnosis.

[Hopes]

Originally Posted by TracySam

I thik this is different, because it is a lump sum that somes to me, not to a provider. My health insurance is totally independent of this, and the two insurers don't even know about each other, nor do they need to.

If your health insurance has a coordinated benefits clause, you will be breaking the law if you don't disclose the other policy.

Originally Posted by TracySam

If I get cancer, my health insurance pays for my treatment, according to what is outlined in my Plan. If I then get $25,000 from the cancer insurer, this doesn't affect my health coverage at all.

I think you're going to be disappointed.

Originally Posted by TracySam

It's not like my health coverage is now going to pay my providers less because I got money from the cancer insurer. There are no "coordinated benefits" clauses. I've read both policies closely.

Your thread could mislead many people because most insurance companies do have coordinated benefits clauses.

To anyone reading the thread: If your enrollment forms ask if you or your family members have other health insurance, that's a big clue that there is a coordinated beneifts clause.

Make sure you read those policies closely each year. It could change without warning.

Originally Posted by TracySam

I think you are talking about supplemental insurance for cancer.This is different, just a pay-out upon diagnosis.

Nope. We're talking about the same thing. I'm very aware.

[Tracysherm]

Nope, the cancer insurance never asked anything about my health insurance.

When I called the health insurer a few years back when I joined their plan, I explained that I have cancer ins, and asked if it will impact anything, and the person said no, and that she had never even heard of this plan I was talking about. I never had to put anything in writing with them about my cancer insurance either.

[Hopes]

Originally Posted by TracySam

Nope, the cancer insurance never asked anything about my health insurance.

OMGoodness! It's the health insurance company that will have the coordinated benefits clause!

Originally Posted by TracySam

When I called the health insurer a few years back when I joined their plan, I explained that I have cancer ins, and asked if it will impact anything, and the person said no...

That was a few years back. Health insurance policies change every year. Plus:

Originally Posted by TracySam

...and that she had never even heard of this plan I was talking about.

How could she possibly know if it would or would not impact your health insurance if she never heard of it? LMAO!

Originally Posted by TracySam

I never had to put anything in writing with them about my cancer insurance either.

And I'm telling you that would be breaking the law if the health insurance company has a coordinated benefits clause.

I'm not saying that your health insurance does have a coordinated benefits clause. I'm saying it's possible.

But most importantly, I'm saying that it's MOST LIKELY for the general population.

I'm just trying to prevent people reading this thread from being misled by clarifying that specific health insurance policies can impact how this benefit applies to them.

[Tracysherm]

Okay, you are making a lot of assumptions about my insurance plan without seeing it. I'm sure other readers out there are in my position.

I am currently looking at the Coordination of Benefits section of my (current updated 2010) plan. (Sorry, I thought you were saying both my plans should have this--my cancer insurance doesn't). This is titled "Effect of Benefits Under Other Plans, so I at first didn't find it under anything called Coordination of Benefits.

My COB clause says that it applies to whether I have healthcare coverage under another Plan. They define "another Plan" as any of the two choices below that provide benefits or services for medical treatment. [My cancer ins does not cover medical treatment]
1. group or group-type insurance that includes "prepayment, group practice, or individual practice coverage" or 2. "coverage under a government plan."

The COB provision applies only if I have other coverage meeting the above descriptions.

My cancer insurance does not fit into either of these categories.

Also, my cancer plan clearly says this is "not healthcare coverage."

Don't scare off readers by making a blanket assertion that cancer insurance is not useful. I would expect that any readers getting the idea from my post to buy cancer insurance would also carefully read their plans and make sure they will receive benefits they are paying for.

I cannot speak for the person at my health insurance administrator who a few years ago said she never heard of the kind of cancer insurance I had. But I'm pretty sure that if it would affect or interact in any way with my health coverage, it would have been in the info she had in front of her. this COB provision was the same, word for word as it had been for the past 5+ years. I have all the stuff from all 5 years.

This cancer plan is not health insurance. I just found a few other companies online that also sell cancer insurance, and they also show that they are not health insurance.

[Mathguy]

Tracy, out of curiosity.

How much do you pay annually and are the costs guaranteed level or do they increase as you age?
What is the benefit due?
What is the term or duration of coverage?

[hey teach]

I have a cancer/heart policy that I took out when I began teaching over 10 years ago. Every year it pays me $50 for my pap smear or mammogram and $50 for my husbands prostate exam. This is a check sent to me. Other than this benefit, I never gave much thought to this policy because like my BCBS and my hospital indeminity policies, the payment comes out of my check as part of my cafeteria plan.

I never thought about it until my husband was diagnoised with stomach cancer. Then I not only thought about it I used the policy. Payment was made to me to help with my out of pocket expenses and travel costs. In no way were the benefits of my BCBS adjusted in consideration of the cancer policy.

I'm glad I had it.

[christina0001]

I've thought about getting it, because I have a mild paranoia about cancer. But I suspect that it would be a better use of my money to invest in a quality short-term disability insurance plan. I haven't done that yet; the one offered through my employer is really poor and I haven't taken the time to shop around.