Cancer Patients and the Affordable Care Act

How does the Affordable Care Act affect the need for financial assistance for cancer patients? It’s a complex relationship with countless variables, however, there are some features that affect so many people they’re worth taking a closer look at.

The Good News for Cancer Patients

First, there is no longer a lifetime limit or cap on how much coverage patients can receive in a lifetime. For people with chronic illnesses and those that have large expenses, such as cancer, this unlimited coverage can be important.

Secondly, most covered benefits cannot be subjected to an annual dollar limit which is important for the same reason.

Third, insurers were previously able to revoke insurance for technical problems with applications. This is no longer legal. Insurance can only be revoked in cases of fraud. People cannot be denied coverage for pre-existing conditions.

Finally, some health insurance is cheaper, especially to those who qualify for subsidies.

The News that Hasn’t Changed

Premium costs are rising for some people. And more generally the Affordable Care Act does not cap the cost of premiums. It does introduce greater transparency and competition in the marketplace. But as health care costs continue to rise; so likely will premiums over time. In the end, this means there’s a lot of good news, yet financial assistance for cancer patients will remain a concern for a long time to come.


Life Credit Company

We are a licensed consumer lender that is dedicated to providing financial assistance for patients who are facing serious illness. With a Living Benefit Loan, from Life Credit Company, you can receive up to 50% of your life insurance policy’s death benefit today. Whether you need to catch up on medical bills, consolidate debt or take your family on a dream vacation, this is your money to spend without restrictions. If you have at least $75,000 of life insurance and have been diagnosed with cancer or other serious medical condition, you may qualify for a loan. Contact us today to speak with a professional counselor who is standing by to assist you.

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