Cancer insurance provides a lump-sum amount for the diagnosis and treatment of cancer. An employee can spend this sum however they choose and use it in conjunction with other benefits to help cover the cost of treatment.
In 2018, cancer patients in the U.S. paid $5.6 billion out of pocket for cancer treatments. Cancer costs in the United States are expected to increase 34% to $245.6 billion by 2030 1.
When someone is diagnosed with cancer, the last thing they should have to worry about is the cost of treatment. While health insurance can definitely help, the costs of cancer can go well beyond what’s covered, from copays and deductibles, to out-of-network and experimental treatments, home health care needs, and travel. That’s on top of everyday bills such as groceries, utilities, car payments, and more.
Cancer insurance gives an insured employee a lump-sum amount for the diagnosis and treatment of cancer they can spend however they choose. Access to this kind of additional financial protection can be more affordable when you offer group cancer insurance.
Guardian offers three levels of cancer insurance plans: Value, Advantage, and Premier. This allows employers to choose what might be the best coverage for their company at a price point that fits the budgets of the employees and the business.
Depending on the selected plan, employees can receive payment for more than 30 covered services related to diagnosis, annual cancer screenings, treatment, and procedures. In addition, they may be able to receive coverage for:
When your company decides to offer accident insurance, our approach to enrollment can help you design an experience that educates and engages employees, so they can make more informed benefit decisions.