Recent Cancer Statistics Shed Light on Need for Coverage and Cost of Treatment
What you need to know and how to protect your future
Despite tremendous strides in cancer research, cancer continues to be a debilitating disease that takes the lives and livelihoods of individuals every year. According to the American Cancer Society, an estimated 1,685,210 new cases of cancer will be diagnosed in 2016 alone.
While many families hope to never have to worry about this frightening disease, the reality is that most people personally know someone who has struggled with cancer. St. Louis’s leading insurance professionals at Senior Health Solutions LLC provide insurance options for individuals who want to establish safeguards against the significant financial impact of this disease.
Cancer statistics are concerning
The American Cancer Society sites the most common cancers as:
● Colon and rectum
● Lung
● Breast
● Prostate
The National Cancer Institute predicts that 595,690 people will die from cancer in 2016. Approximately 454 people per 100,000 individuals will develop a new case of cancer, and 171.2 out of 100,000 people will die from the disease within the year�s end. Women are statistically more likely to die from cancer than men.
Cancer statistics vary among different ethnicities and races, with African American men having the highest rate of cancer diagnoses and Asian and Pacific Islander women having the lowest. Approximately 15,780 children age 19 and younger were diagnosed with cancer in 2014, and 1,960 died from the disease the same year. Approximately 40 percent of men and women will receive a cancer diagnosis at some point during their lifetime.
Fortunately, clinical research has increased the odds that people who receive a diagnosis will beat the cancer. Currently, two out of three people live five years or more after receiving a cancer diagnosis, a dramatic increase since the 1970s. The cancer death rate has dropped by 18 percent since the early 1990s. In 2014, 14.5 million people lived beyond a cancer diagnosis and this number is expected to reach about 19 million in 2024. People are living longer today after receiving a cancer diagnosis because of the work and research put into prevention, screening and treatment options.
The high cost of cancer treatment
According to the American Cancer Society, national expenditures for cancer care were approximately $125 billion in 2010. This number is expected to increase to $156 billion by 2020. Although the costs of treatment vary with each case due to the type of cancer, stage of cancer, treatment regimen and other factors, it is not uncommon for a single patient to incur millions of dollars for treatment and other costs associated with a cancer diagnosis.
Some of the common medical expenses associated with cancer treatment include:
● Provider visits
● Lab tests
● Imaging tests
● Radiation treatment
● Surgery
● Hospital stays
● Prescription medicine costs
● Home care
● Over the counter medicine costs
Some other expenses that people may not anticipate or plan for include:
● Transportation costs to get to providers
● Child care during treatment and recovery
● Lodging for out-of-town treatment
● Out-of-network insurance costs
● Long-term care
● Transportation and lodging expenses for family assistance
● Income replacement when patients cannot return to work or must take time off
● Legal expenses to draft a will, healthcare directive and power of attorney
Approximately 50 million Americans do not have insurance. These individuals may have to rely on loved ones to provide and pay for treatment. Medical treatment and nursing stays can often completely deplete savings. Many families, unfortunately, may lose their homes in the process, in order to pay for treatment.
Take steps to safeguard your future by calling the St. Louis insurance professionals for information about cancer insurance
At Senior Health Solutions, LLC, we provide cancer insurance to qualified applicants. We offer a no-cost evaluation that can provide you with information about your options. Call 636-244-4415 today, or contact us online to schedule an appointment to meet with one of our skilled insurance specialists.
