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 $75,000 or more. Qualified patients can receive up to 50% of their death benefits to use however they choose. Our loan is repaid later on from the death benefit proceeds. The remainder goes to the patient’s beneficiaries.
Over the years, we have helped many patients because of a simple mission: we believe you deserve better. If a Living Benefit Loan looks like an option worth exploring, please give us a call at 1-888-274-1777.