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Tag Archives: cancer treatment

Financial Help For Cancer Patients

life insurance settlements for cancer treatment

Most of us purchase health insurance for the security it provides. We assume that if we get sick our insurance will take care of us. However, with an aggressive disease like cancer, sometimes we don’t realize how extensive the fight can be. Even if health insurance covers 100% of medical bills, there are many hidden costs associated with fighting this disease.  Thankfully, there may be some options available to help cover expenses that many people might not be aware of. Costs of Cancer Treatment If you’ve ever seen someone undergoing cancer treatment who tried to continue working full time, you have likely seen a person who is exhausted, physically and mentally. Probably the best plan would be to stay at home to rest and recover, but if there are bills to pay, many people can’t afford to not work. The added costs of transportation to and from treatment plus anything above and beyond health insurance coverage can really strain a family fighting cancer. Even in recovery, cancer survivors may have had to give up a job or may find themselves with extensive medical bills. Life Insurance Settlements Many people might not know that using your life insurance to get financial ...

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Obamacare: Should I Take the Penalty Instead of Purchasing Health Insurance?

A big part of the Affordable Care Act, commonly know as Obamacare, starts on January 1, 2014, and it requires everyone to have health insurance unless you meet one of a few exceptions. If you choose not to have health insurance, you will be subject to a tax penalty. If you don’t already have health insurance, could it make financial sense to take the penalty instead of purchasing a policy?   Saving Money By Not Buying Insurance Let’s look at it from a purely financial standpoint. I will use a friend of mine as an example. We’ll call her Irene. Irene doesn’t have health insurance and has a decent job at a small business that doesn’t offer a group policy. Because her employer only has a few employees, they are not required to offer insurance under the Affordable Care Act. Her husband and step-daughter have coverage through his job. Irene has no coverage for herself and her daughter, and they don’t qualify for state aid. For the two of them, it will be around $250 per month.She is a smoker and has a higher rate due to that status. The penalty for not getting insurance is $95 per adult or ...

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