Cancer Insurance

Cancer insurance is a type of supplemental health insurance that is meant to manage the risks associated with the cancer disease and its numerous manifestations.

Cancer insurance is a relatively new trend within the insurance industry. It is meant to mitigate the costs of cancer treatment and provide policyholders with a degree of financial support. This support is based upon the terms written into a particular policy by an insurance company.

As with other forms of insurance, cancer insurance is subject to charges, called premiums, which change depending on the risk associated with covering the disease.

Health insurance eligibility is often subject to the risk management and appraisal practices of insurance companies. Because of the risks posed by serious health issues, such as cancer, companies often take a strong stance against providing new coverage to those with the disease.

As such, typical health insurance policies do not offer coverage for cancer. In these cases, supplemental insurance policies, such as those designed to cover cancer specifically, can be useful.

In the U.S., changes to health care laws have made it possible for those with pre-existing medical conditions to obtain insurance coverage. The Affordable Care Act, the law that has presented these changes, has required health insurance companies in the country to offer coverage to those suffering from conditions such as cancer

Though the law stipulates that these people must be granted access to health insurance, insurance policies are subject to the whims of the companies that underwrite them. As such, the provisions of these policies can vary dramatically depending on the health insurance company involved. In some cases, insurers design their policies to be financially unattractive to those suffering from costly medical conditions.

As a supplemental health insurance plan, cancer insurance policies are meant to close the gaps left behind by conventional insurance policies. Even so, these plans may not provide coverage for the full extent of health issues related to the disease.

Complications concerning the disease can have a tremendous effect on the availability of cancer insurance policies. One of the primary concerns regarding cancer insurance coverage is eligibility. Typically, those with pre-existing medical conditions, such as cancer, are not eligible for the coverage. The factors that determine eligibility vary from insurer to insurer.