Cancer insurance policies don’t specifically cover medical expenses that are related to treatment. Rather, after a patient is diagnosed with cancer, the policyholder receives money and spends it as he or she sees fit, according to the report.
Patient advocates voice opposition to the policy, saying that unless patients’ health insurance doesn’t cover cancer-related expenses, they are wasting money by purchasing cancer insurance.
Insurance spokespeople, however, say cancer insurance is designed for additional financial protection and should not be considered comprehensive coverage. Payouts can be used for out-of-pocket medical expenses or even routine living expenses, like mortgage or rent, according to an official cited in the report.
Read the Chicago Tribune report on the cancer insurance debate.
Read more about health insurance:
–UnitedHealthcare Adds Mayo Clinic to Commercial Plan
–Judge Upholds Mandate to Buy Health Insurance
–Hospital Income Likely to Rise as Youths Stay on Parents’ Insurance Longer
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