Why Cancer Insurance?
Cancer rates in the United States continue to increase. However, more and more cancer patients are surviving due to improved treatment options. Many of these options are expensive and can be financially draining on a family, especially when you are already dealing with the emotional and physical toll of cancer.
- In the US, an estimated 40 out of 100 men and 39 out of 100 women will develop cancer during their lifetime.
- About 1.9 million new cancer cases are expected to be diagnosed in 2022.
- The National Cancer Institute estimates that cancer-related direct medical costs in the US were $183 billion in 2015 and are projected to increase to $246 billion by 2030, a 34% increase based only on population growth and aging.
- Lack of health insurance coverage is strongly associated with medical financial hardship and prevents many people from receiving optimal cancer prevention, early detection, and treatment.
- Despite gains in health insurance coverage following the implementation of the Affordable Care Act (ACA), about 30 million Americans ages 18 to 64 years were uninsured during the first half of 2020, according to estimates from the National Health Interview Survey.
Source: Cancer Facts & Figures, American Cancer Society, 2022.