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.