Medicare Coverage of Cancer Treatment

By: Dan Mangus, as featured by NAIFA’s Advisor Today

If an agent working with people on Medicare is even somewhat successful at what they do, hundreds of people, if not thousands, will depend on them. The statistics are not merely numbers but hard facts that impact real people. For example, out of 100 clients, statistically, in the US, an estimated 40 out of 100 men and 39 out of 100 women will develop cancer during their lifetime. That means you are very likely to have the opportunity to help many of your clients deal with the financial impact of cancer. Knowing how Medicare will work for treatment and having a publication ready to share will show them that you are a qualified advisor. 

Thoughts on Cancer Insurance Plans

Cancer plans help cover a large amount of added expenses tied to cancer treatment. They include additional drug costs, copays and coinsurance amounts, added travel to special treatment facilities, and much more that impact your client’s ability to physically and financially survive cancer.

Medicare doesn’t cover:

  • Room and board in assisted living facilities
  • Adult daycare
  • Long-term nursing home care
  • Medical food or nutritional supplements (except enteral nutrition equipment)
  • Services that help you with activities of daily living (like bathing and eating) that don’t require skilled care

Presenting and Selling Cancer Insurance:

  • You can’t insure your car after the accident.
  • You can’t insure your house when it’s on fire.
  • And you can’t get cancer insurance after you are diagnosed.
  • You must plan ahead!

Possible Objections:

  • I don’t know how much more I can afford.
  • I certainly understand that. That is precisely why I bring up Cancer Insurance to you. Can you even imagine coming up with the money to cover the expenses related to treating a long-term illness?
  • What if I never get cancer?
  • That would be wonderful. I hope you never have to use this policy. But if you do, you will never regret having it.

Actual Client Testimonial:

“I am 70 years old and on Medicare, and I also have a good Medicare supplement. When I was diagnosed with Cervical cancer three years ago, I knew the medical bills would be covered. However, the treatment (Chemotherapy and radiation for eight weeks) was at a cancer center 180 miles from home. That’s when I found out how valuable my cancer insurance proved to be. The motel bill for two months, the travel expenses, eating out, even someone to take care of the house while we were gone were all taken care of with the funds we received from the cancer insurance policy. Our daughter took time off work to be with me, and we were able to cover her expenses too. We had the peace of mind that all the unexpected expenses were covered. It was a stressful time, but the cancer insurance sure eased the financial burden.” –  Virginia M., Missouri

Why is this important to an agent? 

Which would you prefer? Your client contacts you to tell you that they have cancer, and you have never talked to them about cancer insurance. They have good health insurance but are still going to be out thousands of dollars for their care and related expenses. Or your client contacts you to tell you they have cancer and have cancer insurance with you. They have good health insurance and a good cancer plan so they will receive thousands of dollars to help pay expenses when they need it most.

Learn More

Medicare Publication #11931: Medicare Coverage of Cancer Treatment Services

Medicare Preventive Screenings List

Part B Covered Drugs: Medicare Part B covers a limited number of outpatient prescription drugs including oral cancer drugs under limited conditions. Generally, drugs covered under Part B are drugs you wouldn’t usually give to yourself.

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