October 2014 - Life Credit Company

Financial Aid for Cancer Patients Who Need to Cover Treatment Costs

Because it comes in many forms, a cancer diagnosis can be anything from upsetting to devastating. It’s a time for reflection, planning, and for living. Unfortunately, it’s also a time for additional expenses. Even those who have the best of health insurance plans may be considering loans for cancer patients and other available resources. The Battle on Two Fronts On a policy level, the war against cancer was first declared back in the early 1970s, and it’s been fought every day since then. But on a personal level the effort looks very different. While we and our closest relatives and friends may be focused on a cure, focused on living to the fullest, and on some days simply focused on getting to the next good day, expenses can mount up as an annoying distraction, or worse. And the expenses can be a nasty surprise. Before we get sick, “copay” might sound like paying our fair share. But the reality of expensive drugs can turn the meaning of that term into a dreaded burden. Then we discover a whole host of expenses we never thought about that just don’t happen to be covered by our insurance. There can be travel for care, added caregivers, lost wages. Some of these can be vital to our health. And some, like those trips we always wanted to take or people we wanted to see, can be vital to our well-being. How can you reduce the number of fronts you are faced with and get back to living life? A Solution To Consider For Cancer Patients We have an answer that can help you stay focused...

Coping with the High Cost of Cancer Drugs

If Ben Franklin were alive today, he might have coined those famous words about time and money a little differently: Cancer is money.  While cancer has many expenses, one of the key questions is, how can cancer patients cope with the high cost of cancer drugs? The Cancer Drug Cost Problem Cancer drugs are a crucial part of patient treatment. However, these life-saving drugs often come with a hefty price tag – as much as $12,000 per month. No problem, some patients initially think: I have insurance. That can be important. But insurance companies, including Medicare, require a co-pay of 20% on these drugs. That can translate to $2,400, every month! The reason drug companies can charge this much is that drug manufacturers are free to price their drugs without limit. They can also incentivize oncologists to prescribe more expensive medications. Recently, an episode of 60 Minutes highlighted the growing costs of cancer drugs and the inconsistency in pricing. The 60 minutes episode explained how this pricing game by top pharmaceutical companies has caused cancer diagnoses to become one of the leading causes of personal bankruptcy by putting patients in a terrible bind. As the CBS program put it: come up with the money or die. Patients need a solution. Financial Help for Cancer Patients As dedicated physicians and patient advocates work to find a solution to this growing problem, many patients need help now. If you have a life insurance policy, we might be able to help you get relief from the high cost of cancer drugs. We provide Living Benefit Loans to those who have policies of...